What is Ethereum?
Ethereum is a blockchain platform with its own cryptocurrency, called Ether (ETH) or Ethereum, and its own programming language, called Solidity.
As a blockchain network, Ethereum is a decentralized public ledger for verifying and recording transactions. The network's users can create, publish, monetize, and use applications on the platform, and use its Ether cryptocurrency as payment. Insiders call the decentralized applications on the network "dApps."
As a cryptocurrency, Ethereum is second in market value only to Bitcoin, as of May 2021.1
Who Created Bitcoin?
Bitcoin was invented by an unknown person or a group of people going by the name Satoshi Nakamoto and released as open-source software in 2009, right after the global financial crisis, as a solution to the pitfalls of the current financial system that led to a massive global financial crisis.
How Can you Use Bitcoin?
Bitcoins, Just like fiat currencies, are used as a medium of exchange, and they can be exchanged for other currencies, cryptocurrencies, products, and services. Bitcoin is a disruptive technology that has a great potential to change the financial industry once and for all and improve the way we transact with one another.
Where To Store Bitcoin?
Bitcoin users can store their bitcoins in a cryptocurrency wallet which technically serves just like a bank account, where users can store, exchange, transfer, and pay for goods and services using their wallet.
There are currently about 17 million bitcoins mined and are in circulation. The total supply to ever be created is capped at 21 million bitcoins.
Bitcoin is designed to become a deflationary currency to combat the government’s use of inflation as a hidden taxation tool to redistribute the wealth in the economy. In addition, Bitcoin offers complete freedom of finance and is accessible to everyone. So many cryptos enthusiastic believe Bitcoin is the future of how we transact with one another that no middleman like banks and financial institutions would dictate the rules and the value of people’s earned wealth.