Ethereum , one of the most recognizable names in the digital currency world next to Bitcoin, can be simply described as a decentralized platform that enables the creation of Smart Contracts and Distri
buted Applications (DApps).
The Ethereum Blockchain also has a virtual currency known as Ether, which can be used by application developers to pay for transaction fees or services on the network, but also as a digital currency.
While Bitcoin and Ethereum have some similarities, their purposes are very different. Bitcoin’s manifesto is to become peer to peer electronic cash, while Ethereum’s vision is to become a complete platform for the development of applications with functionalities that far exceed what we have seen before.
Ether is obtained through the same POW process as Bitcoin, with miners using computing power to successfully find the solution to a complicated encryption algorithm that is necessary to validate transactions on the network.
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