What is Ethereum?

Simply put, Ethereum is an open software platform based on blockchain technology offering developers a place to build and deploy decentralized applications on.

People think Bitcoin and Ethereum are similar. Appart from the fact that they both use of the blockchain technology the differ greatly in purpose. Where Bitcoin acts more as a peer to peer electronic cash system that uses the blockchain to track ownership while making payments, the Ethereum blockchain focuses more on running code of decentralized applications.

Ether

While in the Bitcoin blockchain miners earn actual Bitcoins, in the Ethereum blockchain miners earn Ethers. An Ether is a crypto token that can be used as a tradable cryptocurrency or as a payment for transaction fees and services on the Ehtereum network.

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