In the world of blockchain, there are two major players – Bitcoin and Ethereum. While the world’s first decentralized currency bitcoin was invented to uproot the monopoly of banking institutions, Ethereum explored blockchain for a different goal. Ethereum project envisioned smart contract, and its capabilities to further the cause of decentralization sparked by the Bitcoin …
Understanding of following concepts is critical as they are stepping stones for a more in-depth understanding of Ethereum: Ether and its denominations Ethereum’s currency is ETH, short for ETH. ETH is subdivided into further denominations, the smallest being ‘Wei’. Have a look below. It’s worth noting that subunits of Ether has scientific names as per …
In simplest words, Ethereum is an open-source, public blockchain much like Bitcoin, having its own cryptocurrency – Ether (ETH). It was launched in July 2015 by a blockchain enthusiast Vitalik Buterin, along with a Canadian entrepreneur Joseph Lubin and a British programmer Gavin Wood. Features of bitcoin blockchain like decentralization, digital currency, consensus mechanism, immutability, …