What Is Ethereum?
Ethereum is a centralized platform used globally for different kinds of applications and money transactions. Several types of financial and game apps run on the popular ethereum blockchain. As crypto is becoming more popular, different crypto coins are also running on the ethereum network. Ethereum has a native token known as Ether which is used for selling or buying goods and services, similarly to bitcoins. The only difference is that users of ethereum can develop applications that run on blockchain technology just like software runs on a computer system. Such applications can transfer and store personal data and manage complicated financial transactions seamlessly.
Ethereum was launched in 2015 as a much better performant and extensible version of the blockchain technology in the Bitcoin payment mechanism. Ethereum has been designed to be a flexible, low cost and effective link between different parties. It helps to coordinate data by acting as a distributed Ledger. In addition, individual layers in its architecture create and strengthen endless possibilities for any business system.