What is #ETH?
ETH referred to as Ether, is the second most popular cryptocurrency after Bitcoin. It is important to distinguish between ETH, and Ether Coin, which is the native cryptocurrency of the Ethereum Blockchain, referred to as ETH network.
Ethereum blockchain is a decentralized, open-source network. It was proposed in late 2013 by programmer Vitalik Buterin. The development was crowdfunded, and the ETH network went live in 2015.
Ethereum aims to create a decentralized suite of financial and software solutions that anyone in the world can freely access. With crypto, you become your own gatekeeper.
Ethereum’s native token, Ether or ETH, is used as a digital currency: Similar to Bitcoin, ETH can be used for online and offline transactions. ETH is also an Investment product: like other cryptocurrencies, ETH can be bought and sold with the aim of capital gains. Ether is also a Unit of account. ETH is used to pay for transaction fees and services on the Ethereum network known as gas fees. The gas measures the amount of computational effort required to execute operations.
Ethereum network, the blockchain on the other hand is a decentralized, open-source blockchain is a software platform that powers various applications beyond just cryptocurrency. It's known for its smart contracts, self-executing contracts that automate the execution of agreements between two parties on the blockchain. Ethereum is also known for its decentralized applications or dApps which are applications built on the Ethereum platform that operate without a central authority.
Blockchain technologies, such as Bitcoin and Ethereum, represent the future of finance. The more you understand them, the better financial decisions you'll be able to make in the future. The best way to learn about anything is through direct interaction with the technology.
Therefore, consider purchasing some ETH to gain hands-on experience in creating wallets, opening exchange accounts, and conducting transactions yourself. However, keep in mind that crypto assets are quite volatile, so it's important to approach them with caution.
Crypto kitties to the moon.
