What is Ethereum? Why is Ethereum called Blockchain 2.0?

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    If Bitcoin is considered the "king", then Ethereum is considered the "queen" in cryptocurrency. So what is Ethereum and what is the difference?

    Let's start now!

    What is Ethereum?

    First, Ethereum is a Blockchain created to solve the problem of previous Bitcoin.

    See more:

    So what problem does the Ethereum Blockchain solve?

    Ethereum is the world of programmable Blockchain.

    This is where Smart Contracts come in (Smart Contract) and decentralized applications (DApp) have land to develop.

    Going back to the above example, Blockchain is a piece of golden land, Bitcoin is a skyscraper built on that piece of land.

    But this "building" is only for living and cannot be used for anything else. What if a customer wants to turn it into an office or something else?

    That's where Ethereum comes in to fill the gap.

    Smart contracts are essentially just code. It enforces conditions between parties without the need for intermediaries.

    Ethereum virtual server (EVM) is the environment to run these Smart Contracts.

    Who created Ethereum?

    Ethereum has been Vitalik Buterin announced in 2013 at the age of 19. Because he previously disagreed with Bitcoin's development team.

    Unlike the anonymous creator of Bitcoin, Buterin frequently appears in the community.

    What is Ether?

    Unlike many people mistakenly believe, Ethereum is just blockchain. The coin of this blockchain is Ether (ETH).

    ETH is the "lifeblood" of the Ethereum network. It is also used as a transaction fee for the platforms on which Ethereum is built.

    Current price of ETH:

    ethereum

    Ethereum (ETH)

    $ 3,566.28

    Some differences between Bitcoin & Ethereum.

    1/ Reward for each block:

    • Bitcoin: BTC
    • Ethereum: gas fees

    2/ Supply:

    • Bitcoin: 21 million
    • Ethereum: no limits

    3/ Time per block:

    • Bitcoin: 10 minutes
    • Ethereum: 15 seconds

    So I just briefly went over what Ethereum is, easy to understand for newbies.

    Good luck!

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