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Ethereum


Ethereum

A blockchain network that has its own cryptocurrency (known as Ether) and its blockchain technology that employs it as a native asset (native cryptocurrency). This technology facilitates the creation and maintenance of secure public digital ledgers. Ethereum is a decentralized blockchain that operates using smart contract. Ether (abbreviation: ETH) is the native cryptocurrency of the network. The network and the cryptocurrency were introduced in 2015, and originally the crypto was not created to function like digital money. It was issued as a new kind of global, decentralized computing facility that capitalizes on the security and openness of blockchains to develop a vast range of applications. The platform deliver smart contracts whereby users can set the conditions for a transaction. For example, if a product is delivered to a party, using these contracts, the other party can get the payment for that product simultaneously. The blockchain enforces the smart contracts, so that no manipulation can take place. Applications may include everything from financial tools and games to complex databases.

Ether (ETH) is used to pay for transaction fees and the tools and computational services that are provided on the network. Ether is known as the underlying medium for operating the Ethereum platform. Ether is a coin, like other digital currencies, as it is used to pay for goods and services. Ether (ETH) can be used as a peer-to-peer ‘permissionless’ digital currency similar to Bitcoin, where users do not have to rely on an intermediary like a bank or payment processor. Instead, users can send and receive ETH virtually to anybody – anywhere in the world – without asking for permission). And similar to Bitcoin, payment and transactions are made pseudonymously, i.e., the identity of the parties isn’t directly linked to their digital wallets. At the level of the network, Ethereum represents a universal platform for cryptocurrencies, blockchain apps, stablecoins, and decentralized technologies



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FOREX (foreign exchange) revolves around trading the foreign currency exchange in the over-the-counter market. It is where a given currency is converted to ...
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