When I first got into cryptocurrency and blockchain, I was fascinated by the idea of a decentralized, peer-to-peer network where I could transact business. But almost immediately, I thought that simply paying for stuff with Bitcoin (BTC) was only the beginning. Blockchain technology could do so much more.
That’s why I was taken immediately with Ethereum (ETH). The platform could do just about anything you could put into code. And that had enormous implications for finance, especially for consumers without traditional financial resources, like banks or brokers.
And today, the case for Ethereum couldn’t be stronger. I’ll give my reasons below. In the meantime, feel free to check out my article I wrote on Ethereum back in May. And also take a gander at my article on why blockchain is changing just about everything we do.
The Nuts and Bolts Behind Ethereum
Before we take a look at what Ethereum (ETH) has been up to – and what awaits it down the road – let’s do a quick review.
Like Bitcoin, Ethereum is an open-source, decentralized, ledger-based blockchain technology. While that may sound complicated, think of it as a fancy spreadsheet with a list of transactions that is copied across a vast array of computers. To transact business on the blockchain, you and the person you’re doing business with have to follow the rules set out in the transaction. If you do – and if everyone else on the blockchain verifies that you did – then the transaction is finalized and added to the blockchain. This all happens using sophisticated cryptography solving complicated puzzles duplicated across all those computers. So, doing business on the blockchain is super-secure.
But beyond these common characteristics, Ethereum is different from Bitcoin in many ways. Here’s what I mean: Continue reading "Don't Miss This Crucial Ethereum Update!"