Ethereum is an open-source, public, blockchain-based distributed computing platform featuring smart contract (scripting) functionality.It provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. Ethereum also provides a cryptocurrency token called “ether”, which can be transferred between accounts and used to compensate participant nodes for computations performed. “Gas”, an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.
Ethereum Vs Bitcoin
– Ethereum transactions are faster than Bitcoin transactions..
– Ethereum has its own Turing complete internal code… a Turing-complete code means that given enough computing power and enough time… anything can be calculated. With Bitcoin, there is not this form of flexibility.
– Ethereum was crowd funded whilst Bitcoin was released and early miners own most of the coins that will ever be mined.
– Ethereum discourages centralised pool mining through its Ghost protocol rewarding stale blocks. There is no advantage to being in a pool in terms of block propagation.
Ethereum tickers (used for trading in the market) : ETH