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What Is Ethereum? An Explanation For Beginners

Ethereum is a cryptocurrency like Bitcoin, but it is very different from Bitcoin. They’re both blockchain technologies, but where Bitcoin is an open source peer-to-peer payment platform, Ethereum is an open source decentralised application (dApp) platform.

Its model enables developers to create their own dApps without having to create their own blockchain. What does that mean, I hear you asking. Well, if we think of blockchain as the Internet 3.0, then Ethereum is kind of like an operating system, like Apple and the App store. It has actually made it much easier, faster and cheaper for any company wanting to create their own blockchain application.

Who Created Ethereum?

Ethereum was first conceived by Russian Candaian Vitalik Buterin who wrote and released the whitepaper in 2013. The whitepaper described Ethereum as an alternative platform designed for any type of decentralized application developers would want to build. Read More at Ethereum Nexus