Make the Most of Ethereum with the Ultimate Guide

Ethereum (Ethereum) is the name of a blockchain network. It’s not the name of a cryptocurrency coin. But people often mistakenly think that it is the name of the coin. Despite the fact that the Ethereum blockchain is actually called Ether (ETH), people eventually call it Ethereum.

For such coins Having developed some flaws from bitcoin and being able to address it well, it has branched out to make this coin. Therefore, it is similar in nature to bitcoin but with more capabilities and it seems There will be more openness as well.

Ethereum is not only a blockchain for crypto like Bitcoin’s blockchian, but it is more like a more secure modern Internet, because Ethereum is an Open Source Platform open to the public to write. data, create apps or even crypto on this platform. It is a platform that allows general users to develop the code of the system.

Highlights of Ethereum

Ethereum has a number of unique features, especially Smart contracts. Which is what bitcoin doesn’t, and the bitcoin blockchain system only works with Bitcoin, but the Ethereum smart contract works for anything on the Ethereum blockchain.

Smart contracts are agreements that can automatically certify rules. Without going through an intermediary such as a bank or city, once written, it cannot be deleted or modified. However, contracts can be considered by other parties. Smart contracts are often used to raise funds because, in addition to being difficult, analytical, transparent, they can also be coded to automatically pay dividends to shareholders at specific intervals, for example: For example, every month, every year.

clearly developed

Ethereum 2.0 is the second phase of development of the Ethereum blockchain to increase quality. Speeding up and simplifying operations, Ethereum 2.0 brings significant improvements.

In the past, mining Ethereum, like any other crypto-mining, required bringing your high-quality computer to the blockchain system as a node or block, collecting data and analyzing how it was doing. Once done, you will receive a return. This method is called Proof of work.

Ethereum 2.0 will switch to a method known as Proof of stake instead, where you’ll need to place your Ether tokens to guarantee you won’t be scammed. Because, even if corrupt, a large amount of Ether will be confiscated. Once Ether is placed, the blockchain system chooses to create a block that keeps the data on the computer of the person who placed the Ether, guaranteeing it to reduce attacks from hackers further.

NFT

NFT, or Non-Fungible Tokens, is a digital coin that may not be reproduced or compensated for. Each NFT coin has its own unique serial number. Each coin is unique. We can pass coins to others. But the information on the specific coin cannot be modified. Unlike other cryptocurrencies that are fungible coins can be generated.

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