IS ETHEREUM SIMILAR TO BITCOIN?

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Well it’s kind of, but not really…

Just like bitcoin, ethereum is a large distributed open block chain network. But they are some technical differences between the two. The most important thing to know is that bitcoin and ethereum are substantially different in purpose and capabilities, bitcoin just offer only one particular application of block chain technology.

Ethereum is a one on one electric cash system that allows online bitcoin payments. In the other hand bitcoin is used to track down the ownership of digital money (bitcoins), in ethereum, it focuses only on running the programing code of all decentralized application.

Also in ethereum, instead of mining for bitcoin, miners therefor work to earn ETH, it is a kind of token that fuels the network system. ETH can also be used by network developers to for transaction fees and also services on the ethereum network.


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Meanwhile all other block chain have the ability to process the code, many are severally limited. ETH is just different. Instead of giving an actual set of limited operations, ethereum gives space for developers to create whatever they want. This they fore means developers can build thousands of different applications that can go far beyond anything that we have seen before.

We have what we call (EVM) meaning ethereum virtual machine, it is a complete software that runs through the ethereum network. It allows anyone to carry out any program, not minding the programing language when given enough time and memory.

The virtual machine allows the process of creating block chain applications very easier than ever before, instead of building a big original block chain for every new application, ethereum allows the development of many different applications in one platform.

Ethereum is just so good with many possibilities, it enables developers to deploy decentralized applications. You should give it a try.

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