What is Ethereum?
code before interacting with it.
This means that anyone, anywhere, can launch applications that cannot be taken offline. More interestingly, since its native unit – ether – stores the value, these applications can set the conditions for how the value is transferred.
To put it bluntly, the idea of “programmable money” has fascinated users, developers, and businesses all over the world.
What is the Difference Between Ethereum and Bitcoin?
Bitcoin relies on blockchain technology and financial incentives to create a global digital cash system. It has introduced several important innovations that allow coordination of users around the world without the need for central management.
By having each participant run a program on their computer, Bitcoin made it possible for users to agree on the state of a financial database in a trustworthy, decentralized environment.
Bitcoin is often referred to as a first-generation blockchain. It's not built to be an overly complex system, and that's a strength when it comes to security. In fact, the smart contract language in Bitcoin is extremely limited and does not accommodate applications outside of transactions very well.
Second-generation blockchains can do even more. Besides financial transactions, these platforms provide greater programmability.
Ethereum gives developers much more freedom to experiment with their own code and create what we call decentralized applications (DApps).
Ethereum is the first and most popular of the second generation blockchains.Who Developed Ethereum?
In 2008, an unknown developer (or group of developers) published the Bitcoin whitepaper under the pseudonym Satoshi Nakamoto. This has permanently changed the digital currency landscape.
A few years later, a young programmer named Vitalik Buterin devised a way to take this idea further and apply it to all kinds of applications. The concept was eventually developed into Ethereum .
It was proposed by Buterin in a 2013 blog post titled Ethereum : The Ultimate Smart Contract and Decentralized Application Platform. In his post, Turing talked about the idea of a complete blockchain, a decentralized computer that can run any application given enough time and resources.
