Ethereum - is the latest addition to Cryptocurrency world and the technology is a vast one that gives the developers great choices. Apart from the previous versions of various cryptocurrencies, this particular model is quite a different Blockchain protocol. However not everyone is having best idea on how it works and what is Ethereum? We’re going to write down a brief description to resolve your questions and clear the air between you & the technology.
“Ethereum in Southern China has been on a rampage of growth.Banks, corporates and even casual investors have all heard about Ethereum's white-hot growth and mounting challenge to Bitcoin dominance. Ethereum startups worldwide from Status.im and Ox to Golem and MakerDao have made HK's environment of high-level industry professionals a can't-miss stop on their Asia business development and capital raising tours."
Ethereum – for virtual foundation layer for application development
Ethereum is the new technology or say a different Blockchain protocol that helps developers to develop new application within the virtual platform. Most of the cryptocurrencies working in accordance with Blockchain technology and is more a proof of existence. However, Ethereum is more a “proof of statement” as it involves a technical virtual contract known as “smart contracts”.
Smart contracts are made between the client and a miner as a project for making “Ether” – an element much like Bitcoin. Mining does involve executing digital codes to achieve a certain goal, a deal made by the client.Smart contracts are not a legal document so one can tag it under virtual documents, and well there are real fellows behind this “ether”. It’s decentralized technology and not a dedicated team who acts as the body to control over, for these contracts ether is a must part hence mining is to be carried out! So how it acts as a virtual basement? Technically speaking the Ethereum Blockchain will be there as a basement and the developer’s just need to develop application over it as a new layer and that’s it, pretty much simple and a wild card entry for every developer. So that’s the story about Ethereum and well in
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