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<aside> 💡 We will learn what Ethereum is, why it’s revolutionary, & other alternative blockchain platforms.

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Ethereum 101

Ethereum was the first and biggest blockchain platform. It revolutionized what blockchains could be applied to. So, let’s learn about it.

Ethereum vs. Bitcoin

To learn about Ethereum, let’s start by comparing it to something we already know - Bitcoin.

Check out this tweet thread:

https://twitter.com/ILL_Blockchain/status/1462945877002276865

Bitcoin = decentralized calculator | purpose is to be a cryptocurrency

Ethereum = decentralized computer | purpose is to be an application platform

dApps = decentralized applications | built on platforms like Ethereum

That’s a simple explanation. Let’s dive a little deeper

What is Ethereum, really??

Ethereum is a decentralized, blockchain-based global supercomputer that launched in 2015 to serve as the foundation for an ecosystem of interoperable, decentralized applications (dApps) powered by token economies and automated smart contracts.

• Assets and applications designed on Ethereum are built with self-executing smart contracts that remove the need for a central authority or intermediary.
• The network is fueled by its native cryptocurrency ether (ETH), which is used to pay transaction fees on the network.
• Programmable, public, and censorship-resistant, Ethereum forms the backbone of a decentralized internet, which has already spawned significant innovation like Initial Coin Offerings (ICOs), stablecoins, and decentralized finance (DeFi) applications.

That was a lot of info. But, it serves as a great primer for this in-depth blog post: