The second largest crypto asset by volume in the cryptocurrency community. Ethereumis unlike any other cryptocurrencies and tokens you see in this industry. Even between Bitcoin and Ethereum there are huge differences. Even if we make an exaggerated sentence, it wouldn’t be wrong: without Ethereum, today thousands of pennies we wouldn’t talk.

What about Ethereum? what makes it so special what’s the thing? How can a cryptocurrency be technically more valuable than Bitcoin, the first cryptocurrency in history? Let’s discuss this issue together.

Let’s briefly explain: What is Bitcoin?

Bitcoin, which has been in our lives since 2008, is actually a blockchain network. This network, which focuses on payments, can also be applied to any person or institution. not connected. generated by codes and encrypted This cryptocurrency is for everything except payments. not used. This is how Bitcoin can be explained in its simplest form.

So what is Ethereum?

Launched in 2015, Ethereum actually shares features with Bitcoin. A blockchain network Ethereum is decentralized but has special layers of security. However, the main thing that has made Ethereum what it is today is “smart contractsfeature. Ethereum, which already has all the features of Bitcoin, is actually It has more than Bitcoin.

Let’s move on: what is a smart contract?

Speaking of smart contracts since the 1990s, with the introduction of Ethereum, Real facts have become. What we call a smart contract is the process of confirming a contract between two parties with algorithms. It’s so convenient will make your life easier If you want to come up with something, immediately focus on a project related to smart contracts.

Let’s talk in a language everyone understands. If you buy a house today, to the registry office you go; notary offices are used for the purchase and sale of second-hand vehicles. Here are smart contracts like this one that eliminate the need to go to government offices. eliminates. Everything is completed as recorded on the computer. However, smart contracts have no rollback mechanism. That is, an action cannot be undone.

You can say that the notary’s job is different, the land register’s job is different. You are right, but smart contracts are specific to them. programmable. Moreover; Services built on Ethereum are designed to manage multiple smart contracts if desired. can be improved. Here we can make a distinction: Ethereum equals Windows operating system, any service with smart contract equals Google Chrome.

The programmable nature of Ethereum enabled the development of games and services built on this network.

Ethereum has a structure that can be specially configured by anyone. That’s what it takes for Bitcoin. If you want, you can customize the Ethereum network today and create a special network for yourself. you can design a game.

Things called decentralized finance (DeFi) are also structures built on the Ethereum network. And besides all this, the cryptocurrency community has been trending for a while now. NFTThey actually existed today thanks to Ethereum.

What are Bitcoin and Ethereum striving for?

Bitcoin is a tool to settle into our lives and be actively used, just like the Turkish lira or dollar. wants to be money. The purpose of Ethereum is not to be money.

Ethereum wants decentralized services to be developed and used. The transaction fees in these services are the main purpose of Ethereum. Team, transaction costs He wants to make money with it.

Finally, the word “Ethereum” is mispronounced!

The word “Ethereum” has been used many times. like a cryptocurrency is called. However, this is not correct. The term we call Ethereum is the blockchain network itself. If the local currency of this network is etheris (ETH). However, neither stock markets nor investors care about this distinction.