What is Ethereum? | Why should I use ethereum?

Ethereum is an open-source, decentralized global software platform powered by blockchain technology. Ethereum is most commonly known as ETH, its native cryptocurrency.

Ethereum can be used to create any type of secured digital technology. Tokens are designed to be used in blockchain networks, but they can also be used by participants to pay for blockchain-related work.

A key characteristic of ETH is its scalability, programmability, security, and decentralization. It is the blockchain of choice for developers and enterprises who are developing a technology based upon it to transform many industries and our daily lives.

Ethereum Blockchain Introduction

Ethereum is a revolutionary technology that may ultimately change the way we interact on the Internet. You will learn what ETH is, how it works in this guide, and why you should choose to use it.

This is the Beginner’s Guide to Ethereum!

Ethereum is a blockchain-based cryptocurrency platform that allows developers to build and publish decentralized applications. This means that, unlike other cryptocurrencies like bitcoin, ethereum’s blockchain doesn’t rely on a single company or organization for its operation. Instead, it’s run by everyone who uses the currency: users who want to use it for things like making payments or buying stuff online—or anyone else who wants to build something using ethereum’s open-source software.

The creator of Ethereum was Vitalik Buterin (who goes by “Vitalik”), a Russian-Canadian programmer based in Canada who graduated from University College London in 2013 with degrees in mathematics and computer science; he later moved back home so he could avoid paying taxes on his earnings from working at Goldman Sachs as part of their McDonnel Douglas trading division (which closed down after losing millions). Vitalik soon realized how much potential this technology had when researching how Bitcoin worked: if you were able to create your own version of Bitcoin without having access directly through someone else then there would be no way for governments or banks/moneylenders etc.; thus creating something new entirely within itself.

What is ethereum?

Ethereum is a decentralized platform that runs smart contracts. It’s also a blockchain, which is essentially a public ledger of every transaction made on its network. Ethereum is one of the largest cryptocurrencies in terms of market capitalization and volume traded.

In simple terms: if you want to create your own cryptocurrency (or token), ETH can help you do it.

How does ethereum work?

Ethereum is a blockchain, a decentralized network and smart contract platform. It’s also a public blockchain like Bitcoin, but unlike Bitcoin it uses ether as its native cryptocurrency.

Ethereum’s core innovation is that it allows anyone to write code that runs on its blockchain using what are called smart contracts. Smart contracts are software programs running on the ETH network; they can be used by developers to create their own applications or run apps written by others in an automated way (think IFTTT). The result: no middleman required.

Who created ethereum?

Ethereum was created by Vitalik Buterin, a Russian-Canadian programmer. Vitalik is the founder of Ethereum and he’s also known as “Ethereum’s most famous personality.” He co-founded ETH with Charles Hoskinson in 2013.

Who controls the ethereum network?

You may have heard of the ETH network being controlled by a single entity or group. This isn’t true. The ETH network is decentralized, meaning that it doesn’t fall under the control of any one person or group.

Why should I use ethereum?

You can use ethereum to interact with other people online, create contracts, decentralised applications and autonomous organisations. Here are some examples:

  • You can use your computer to connect with someone in another country and pay them money without having to deal with a bank or government.
  • You can set up an app that helps people share documents securely by using blockchain technology (the same technology that powers bitcoin). This is called filecoin, which was crowdfunded earlier this year by Filecoin Inc., a company based in Switzerland led by Protocol Labs cofounder Juan Benet.
  • A Canadian startup wants to help businesses save money by sharing information about their supply chains — from where raw materials come from to how they’re processed — through blockchains rather than spreadsheets or emails; they call it Factom Harmony (“harmony” being shorthand for harmony)

What is ether?

Ether is the cryptocurrency of the ethereum network and is used to pay for computation on the network. It can also be exchanged as currency, but it’s not really valuable in that sense. Ether is a token or unit of currency that you can use to buy goods and services within ETH applications.

Ether has value because it’s used by thousands of decentralized applications (DApps) on Ethereum—and many people want their tokens back when they are unable to pay with ethers.

How do I get ether?

You can buy ether in several ways:

  • Mining. This is the only way to get ether at present, and it’s a fairly complicated process. To mine, you need access to a computer which was built specifically for mining purposes (e.g., an ASIC machine). Then, you have to download special software that allows your computer to participate in the mining process by searching for blocks within Ethereum’s blockchain network—these are known as “blocks.”

Ethereum is a revolutionary technology that can change the way we interact online.

Ethereum is a revolutionary technology that can change the way we interact online.

Ethereum is a new kind of internet, built on blockchain technology. The decentralized applications (dApps) running on this network are written in smart contracts, which allow users to run programs as if they were executing them directly on the ETH Virtual Machine (EVM). These dApps can be anything from games to financial marketplaces and even entire cities!

Ethereum Price

  • What was the highest price of Ethereum?

Ethereum hit an all time high of $4,878.26 on Nov 10, 2021 (9 months).

  • What was the lowest price of Ethereum?

Ethereum had an all time low of $0.432979 on Oct 20, 2015 (almost 7 years).

How To Stake Your ETH?

Staking is a public good for the Ethereum ecosystem. Any user with any amount of ETH can help secure the network and earn rewards in the process.

What is staking?

Staking is the act of depositing 32 ETH to activate validator software. As a validator you’ll be responsible for storing data, processing transactions, and adding new blocks to the blockchain. This will keep Ethereum secure for everyone and earn you new ETH in the process. This process, known as proof-of-stake, is being introduced by the Beacon Chain.

Why stake your ETH?

  • Earn rewards
  • Better security
  • More Sustainable

Earn Rewards

Rewards are given for actions that help the network reach consensus. You’ll get rewards for running software that properly batches transactions into new blocks and checks the work of other validators because that’s what keeps the chain running securely.

Better Security

The network gets stronger against attacks as more ETH is staked, as it then requires more ETH to control a majority of the network. To become a threat, you would need to hold the majority of validators, which means you’d need to control the majority of ETH in the system–that’s a lot!

More Sustainable

Stakers don’t need energy-intensive computers to participate in a proof-of-stake system–just a home computer or smartphone. This will make Ethereum better for the environment.


I hope this guide has given you a better understanding of what ethereum is and how it works. If you have any questions or comments, feel free to leave them below.

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What is Ethereum?

Ethereum is a decentralized platform that runs smart contracts. It’s also a blockchain, which is essentially a public ledger of every transaction made on its network. Ethereum is one of the largest cryptocurrencies in terms of market capitalization and volume traded.

Who created Ethereum?

Ethereum was created by Vitalik Buterin, a Russian-Canadian programmer.

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