Can you learn to develop Ethereum Platform?

What is Ethereum?

Ethereum is a decentralized network that was created in the year 2015 . It is based on blockchain technology in order to develop decentralized applications, that is, it does not depend on any government or regulatory body. Ether (ETH), its native cryptocurrency, is one of the most relevant on the market today. Apart from Ether, the Ethereum network owns other cryptocurrencies and tokens. Wait! Before continuing, we recommend that you do not miss this video to lay the foundations by understanding what exactly blockchain technology is if you still do not know it (or you have not understood it until now, which is normal). We explain it to you in a super easy and fast way.

Ethereum allows the validation of transactions made through the block chain in a very agile, decentralized and secure way and uses the so-called smart contracts. In other words, they have specific clauses that are executed based on already programmed parameters and in a safe, transparent and immutable way. Same as a normal contract, but on the network. In fact, ethereum dapps development services the main novelty that Ethereum brought to blockchain technology was the concept of smart contracts or smart contracts. This is essential, because it is one of the most ambitious projects in the crypto environment.

How Ethereum works and its relationship with the blockchain:

As we said, Ether is the cryptocurrency of the Ethereum platform . That is why Ether is known as ‘gas’. Each transaction, each movement that is made within the Ethereum network, needs this gas. And when more importantly, the bigger that move is, the more gas you’ll need . Logical, right?

We are going to put an example. You request that work be done. Which ever. And that job costs 3 Ether. Well, that “work” would be linked to a smart contract in which it would be reflected that, if X person does that work for Y, 3 Ether will be sent. This is sealed and immovable in the blockchain of the Ethereum network.

What is the difference between Ethereum, Ether and ETH?

• Ethereum: name of the Blockchain network.
• Ether: Native cryptocurrency that uses the Ethereum network. Of course, it is usual, normal and even ‘correct’ to call the cryptocurrency Ethereum. This is how you will see it in many cryptocurrency exchanges (buying and selling houses).
• ETH: acronyms that you will find when operating.

Differences between Bitcoin and Ethereum:

Obviously, Bitcoin and Ethereum are the two most popular cryptocurrencies. Yes, in that order. And they have many things in common, such as that they do not depend on any government or regulatory body. The Ethereum blockchain is similar to that of Bitcoin, it is true, since it also works as a kind of historical record of transactions. But, Impact in metaverse with the Ethereum network, so-called ‘dapps’ or decentralized applications can also be built.

Anyway, let’s go with the main differences between Bitcoin and Ethereum:

• The main difference between these two cryptocurrencies is their purpose. Bitcoin seeks to be a digital currency with which to acquire goods, products and services, something similar to money. On the other hand, the objective of Ethereum is another : the execution of these Smart contracts within the blockchain network.
• Bitcoin has limited its supply of cryptocurrencies to 21 million . That is, it is finite. However, the supply of Ethereum is infinite.
• Although Bitcoin is more famous, Ethereum is actually used by more websites for transactions . For example, if you like football, you will see websites such as Socios.com. Be more than a fan or Solare advertised, which use the Ethereum network to buy or sell player ‘cards’.
• While Bitcoin is considered a global digital currency accepted for some payments , the Ether currency is only accepted for transactions by digital applications running on the Ethereum network and others that use its blockchain technology.

How to invest in Ethereum?

Investing in Ethereum, buying Ethereum does not have a greater difficulty. Anyone can do it through the internet and even with a small budget, since fractions of cryptocurrencies can be bought and you do not need to have the full value of it to invest in it. Of course, it is essential that you understand that cryptocurrencies are a tremendously volatile asset, whose risks and operation you should understand before starting to invest in it.

The usual way to do this is through cryptocurrency houses or exchanges . Here you can start your investment process in Ethereum. In addition, decentralized application development you can store your cryptocurrencies on the exchange platforms themselves or in both digital and physical wallets or wallets. As with Bitcoin and other types of cryptocurrencies, we can invest in Ether through investment funds . In Finest, you can find the BNY Mellon Blockchain Innovation Fund that invests a part in the Ethereum network focused on the use of Blockchain technology by companies.

As well as in regulated listed products such as Bitcoin and Ethereum ETFs, which you can acquire through online brokers and that simply replicate the behavior of the cryptocurrency. And if, in addition to Ethereum, you want other cryptocurrency recommendations to invest in this 2022 , don’t miss this video with Alex Reyes, cryptocurrency expert.

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