Vitalik Buterin – What is Ethereum? 6 things you need to know about the cryptocurrency. ETH NEWS

#Eth #Ethereum #Cryptocurrency

The modern world is developing more and more every day. Indeed, our society is overcoming new technological and information barriers in all areas with incredible speed. One of these areas is the economy. For the last year, the term “blockchain” has been used more and more, and cryptocurrencies are in great demand among the world population. The history of the emergence of cryptocurrencies is interesting and exciting. Its creation, appearance and development, in fact, lasted several decades, and not since 2009, as many believe. The idea of cryptocurrency was first announced in the late 1980s and consisted in the possibility of sending funds without tracking. Thus, there was no need to manage centralized organizations (for example, banks).
Already in 2013-14, many countries started using them. And in 2017, this money moved from the state of “online” to “offline” and began to be used in newly opened crypto services, which were a kind of shops made for virtual coins and not only.
Electronic payments and electronic money are used everywhere. The advantages of cashless payments are obvious – it’s fast, safe and convenient. Now the cryptocurrency is gaining momentum at an incredible speed.
Cryptocurrency allows people to transfer values or exchange them in a digital environment. Cryptocurrency is unique for many reasons. Cryptos are a type of digital currencies that are protected from counterfeiting, they can be stored electronically, and have the ability to transfer from one wallet to another one. At first glance, the cryptocurrency looks like an ordinary electronic payment system, whereas it has its own characteristics and fundamental differences from conventional electronic money. Its main function is to act as an electronic money system. Where can you buy or sell cryptocurrency?
There are many exchanges and special services where you are sending money to a person on the card, in return receiving money to the specified address, and the exchange acts as a guarantor. To date, one of the largest trusted cryptocurrency exchanges is Ethereum. Vitalik Buterin characterized Ethereum as a new “Internet”, with all its possibilities and huge prospects.
Ethereum is a global decentralized platform for using money and creating new types of applications. The emergence of a new blockchain project called Ethereum provoked a hype in the field of cryptocurrencies. It introduced smart contracts, opening up a wide range of potential use cases. More than 200,000 different projects have already been created on the basis of the Ethereum blockchain and their number continues to grow steadily. All these projects have their own cryptocurrencies with their own goals and objectives, which are often different from Bitcoin.
On Ethereum, you can write code that manages money and create applications that are available anywhere in the world.
The service features dozens of the most popular digital currencies in the world. It implements the quick purchase and sale of currency. The platform is very convenient and well-known. It also has a number of advantages. Firstly, the platform offers a huge list of supported cryptocurrency pairs. Contrary to popular belief, the cryptocurrency market is not limited to Bitcoin. It includes iconic coins like ETH, but also doesn’t ignore very small tokens.
Ethereum is the protocol, and it works with the currency called ether (or ETH).
Ethereum is a young and promising platform for trading digital assets. The Ethereum team is regularly in search of new solutions and develops projects that are interesting not only to the cryptocurrency community, but also to people far from it. What makes Ethereum so valuable?
Just look! Ethereum allows you to run code in a distributed system. This does not allow outsiders to make changes to the program. The code is added to the Ethereum database (that is, to the blockchain), and it can be configured to close the possibility of further editing. In addition, the database is visible to all users, so they can check the code before working with it.
This means that any user anywhere in the world can launch an application that cannot be taken offline. Since the ETH has value, these applications can set the conditions for the transfer of cryptocurrencies. Programs for creating applications are called smart contracts, and often they can be configured to work independently without human intervention.
Obviously, such an idea of “programmable money” could not but conquer many users, developers and companies around the world.
The digital world has entered our lives so much that news sites and TV shows do not ignore the bitcoin exchange rate or the sale of a picture in the form of an NFT token.

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