Today we will talk about cryptocurrency, or rather about the features of Ethereum.
To begin with, you can easily buy eth with a credit card. This is the main advantage of this digital coin.
What are the features of Ethereum?
The Ethereum crypto network allows code to run in a distributed system. Moreover, access for editing it can be hidden so that third parties do not have the opportunity to change the program. The database itself is open for viewing. Therefore, before starting work, users can check the code and only then start interacting with it. This feature allows you to launch applications from anywhere in the world.
The Ethereum network has its own exchange currency - ether. It can be used by application developers by defining transaction conditions when working with the program.
The products that create decentralized applications are called smart contracts. Their work is configured in such a way that the person does not participate at all.
Developers and many large IT companies simply could not pass by the Ethereum crypto platform. Its functions and capabilities enable it to perform the most complex tasks in the digital industry.
What is blockchain in Ethereum?
The Ethereum crypto network operates on the blockchain. This is the database where all the information that is used by the protocol is stored. If we compare the blockchains of Ethereum and Bitcoin, then they have some similarities. But the ways of storing data are fundamentally different.
Let's say the Ethereum blockchain is a book in which new pages or blocks are added every day. This is where all the information about transactions made within the network is contained.
If you look at a new page in the book, you can understand that it clearly follows the previous one. For this, a process called "hashing" is used. During hashing, part of the information (page text) is used, after which a unique identifier is formed. They call it "hash".
The risk of different pieces of data transmitting the same hash is practically nil. It's easy to create a unique identifier given some information. But you cannot get data from an already existing hash. This feature plays an important role in Ethereum mining.
The components mentioned above help to put together a mechanism for linking pages in a book in the correct order. If there is an intervention aimed at changing the order or deleting a page, then the entire book will be considered forged.