The network runs on Ether (ETH), which is the cryptocurrency you use to pay for using the network. Here’s the TL DR: The Ethereum network was built to run decentralized applications (dApps), programs that run on a network of thousands of computers rather than on servers controlled by a single person, organization, or government. The Ethereum white paper, while a tough read, explains the reason for Ethereum in contrast to the existing crypto networks. The problem: they just don’t support enough programming commands. They were (and still are) effective as digital ledgers and payment rails. We already had Bitcoin, so why did we need Ethereum? Early crypto networks like Bitcoin and Litecoin offer peer-to-peer transactions without a bank in the middle.
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