The Complete Guide to Understanding Ethereum
Cryptocurrency has been all the rage lately and in the race to create to create the best crypto-coin, Ethereum seems poised to take the lead. Ethereum reached the $400 mark in 2017, and has since continued to quickly rise even further in its value, seeming to indicate that Ethereum will soon overtake its much talked about predecessor, “Bitcoin”. But it isn’t just the monetary value of Ethereum that is making waves. It is also the technology behind Ethereum.
Ethereum not only uses a highly proficient block chain, but for the first time ever, it allows for “smart contracts”—open source agreements written in computer code that can be changed at will. Many have likened Ethereum as a successor to Bitcoin but as you become further involved with it you quickly realize that it is a whole other animal completely. Prior to jumping in and mining or investing your time and energy into the acquisition of ether (the individual units of Ethereum) you really need to do your homework.
It is true that Ethereum has many features that would be familiar to a Bitcoin enthusiast such as a block chain, wallets, and private keys, but the similarity ends there. Ethereum has much more to offer for those who know where to look, and Michael Scott a trusted and dedicated custodian of cryptocurrency insight, knows how to point in in the right direction!