Introduction To Ethereum
Learn what the Ethereum blockchain is and why it's different from Bitcoin.
We'll cover the following...
Cash-oriented vs. programming-oriented
Bitcoin and Ethereum are two of the most popular and widely-used blockchains today. They each have their own blockchain infrastructures, and though they share some common features, they were created with different purposes in mind. Bitcoin is a cash-oriented system while Ethereum is very focused on executing programs.
Bitcoin was created as a peer-to-peer electronic cash system. Its main purpose is to provide a decentralized way of conducting transactions without the need for a middle man (such as a bank). So, it strongly focuses on cash transactions, spending conditions, and its digital currency bitcoin.
On the other hand, Ethereum’s purpose is not primarily to be a digital currency payment network. It was designed to constitute a general-purpose decentralized computer where programming code can be executed from the network. So, Ethereum has been described as “the world computer” and its native digital currency ETH is seen as a utility currency, necessary to pay for ...