Intended to be a robust platform allowing developers to build blockchain applications, Ethereum is now a popular digital asset among developers. It is result of some of the shortcomings faced by its founder Vitalik Buterin, while he was trying to build applications on the Bitcoin blockchain. His belief was that the potential of blockchain technology was not limited to financial applications. So, he put all his ideas together to quickly set out to create a blockchain that could support more common computations. And, here we have Ethereum currency.
What Purpose Does Ether Serve?
It has two purposes. Primarily, it is traded as digital currency exchange, Ethereum exchange, like other cryptocurrencies. Secondly, it is used inside Ethereum to run applications and even to monetize work. Plus, it can be used to codify, decentralize, secure and trade just about anything. Ethereum enabled developers to build and deploy decentralized applications (known as Dapp in short). Dapps serve some particular purpose to its users. To make it simple, let us have an example of Bitcoin. Bitcoin is a Dapp that provides its users with a peer to peer electronic cash system that enables online Bitcoin payments. Actually, decentralized applications are made up of code that runs on a blockchain network, they are not controlled by any individual or central entity. Now, an important point to understand is different between Bitcoin and Ether. Yes, there is little difference between the two terms. When we talk about Bitcoin, it is just a currency which offers a single application of blockchain technology. On the other hand, Ether is the currency that is used in the entire network of decentralized applications, giving it more utility.
To gather all updated regarding Ethereum currency and other dapps, people can access an online website eth-price.com cryptocurrency markets that provide all updates along with eth chart.
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