An Introduction to Ethereum: Everything You Need to Know

0
199

Introduction

Ethereum is a worldwide, decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.

This article will help you understand what Ethereum really is, and how to invest in it.

What is Ethereum?

Ethereum is a blockchain platform for developers and companies to build decentralized applications.

It is a blockchain-based software platform featuring smart contract functionality. It’s somewhat similar to the well-known Bitcoin, but with a broader scope as it’s designed to be able to host applications in addition to being used as an electronic payment system.

Smart Contracts, DApps and DAOs

Ethereum’s vision of the blockchain is radically different from that of Bitcoin. Where Bitcoin aims to disrupt payments, Ethereum aims to disrupt Google. The platform enables developers to build decentralized applications (or DApps) on top of the blockchain, and it comes with its own Turing complete programming language, meaning that a developer can use it to build just about anything—from simple digital tokens, all the way up to smart contracts and distributed autonomous organizations (DAOs).

The Ethereum network is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk.

The Ethereum network went live on July 30th, 2015 with 72 million Ethereum premined. This was done to ensure that the community could get behind the future of the Ethereum blockchain.

Ethereum is developed by a worldwide team of passionate developers for the Ethereum Foundation, a Swiss nonprofit organization.

Here is how to buy Ethereum on various platforms:

a. Buying Ethereum from Coinbase:

#Open a Coinbase account.

#Verify your identity and set up your payment method.

#Buy Ethereum by clicking “Buy/Sell” at the top of the page.

b. Buying Ethereum from Cex.io

First of all, you need to register on Cex.io and verify your account with a valid email address and phone number.

Now, you need to click on the “Buy/Sell” tab and select Ethereum

The method to buying Ethereum from various platforms is pretty simple.. all you need to do is:

#Open an account.

#Verify your identity and set up your payment method.

#Then buy Ethereum by clicking “Buy/Sell” at a specified location – either at the top of the page, or the button.

Conclusion

This article has been a quick introduction to Ethereum, and hopefully it has provided you with some valuable insight into this exciting new technology.

If you’d like to learn more about Ethereum, please leave a comment below, and also subscribe to our email list for the latest news and updates.

LEAVE A REPLY

Please enter your comment!
Please enter your name here