Presentation and definition of the crypto-currency, Ethereum (ETH)

Presentation and definition of the crypto-currency, Ethereum (ETH)

  • Name of the crypto-currency : Ethereum
  • Acronym : ETH
  • Where to buy Ether ? Coinbase, Binance, Bitbay, cex.io
  • Date of creation : 2015
  • White paper of Ethereum
  • Web Site

The platform Ethereum : what it is ?

Ethereum is a platform for the decentralized exchange. Just like Bitcoin, the protocol relies on the technology of blockchain, but is not limited only to monetary transactions : it allows you to create any type of applications (dApps) and decentralized. Basically, Ethereum is not a direct competitor to Bitcoin because it offers a different use of the blockchain, and provides additional features.

Trade without intermediaries

The smarts contracts

The purpose of the network Ethereum is to remove any type of intermediate on the web. It allows the programming of contracts, which are called by the creators of the network of ” smart contracts “, simple or complex, for which payment will be triggered only if all of the conditions programmed at the start are met. These contracts offer, for example, to conduct a financial transaction between the two companies, without the intervention of a third party agency.

The benefits

These stand-alone programs have the advantage of presenting a reduced cost to seal a contract, and allow for a speed of execution is important. In addition, to formalize commitments through the blockchain ensures the immutability of the terms defined at the outset.

The Ether, the “fuel” of the dApps

The entire protocol works through a crypto-currency, Ether, which is used to pay for smart contracts by purchasing the ” gas “. This famous gas can be equated to a fuel that would allow for the use dApps in the same way that one uses gasoline for his car. If there’s no ” gas “, the contract is no longer active.