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  • Writer's pictureMichael Paulyn

What is Ethereum?

Ethereum is a decentralized software network that works off of blockchain technology; it's most commonly referred to as ether (ETH) in terms of cryptocurrency. The true beauty of Ethereum is that anyone can use it to develop a new type of secure digital tech, thanks to it being entirely secure, scalable, decentralized, and programmable.

In reality, Ethereum is for work done using the blockchain or for users looking to purchase tangible goods or services. For many developers, Ethereum is their go-to when working on projects that aim to change the status quo of daily life.

Comparing Ethereum vs. Bitcoin

It's common to hear some compare Ethereum to Bitcoin; the truth is that although these two cryptocurrencies are the leaders in this space, they're pretty different. Ethereum carries a reputation for being "the world's programmable blockchain," setting itself apart as technology that's an entirely programmable network with dozens of unique applications.

When it comes to Bitcoin, the Bitcoin blockchain's development was solely to support the top cryptocurrency. In contrast, Ethereum has ambitious goals of harnessing the power of blockchain technology to drive innovation and specialized applications; Bitcoin is strictly a payment method.

Hungry for more? Join me each week, where I'll break down complex topics and dissect the latest news within the cybersecurity industry and blockchain ecosystem, simplifying the world of tech.

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