What do I need to know about Ethereum?

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Ethereum expanded the possibilities of blockchain, the groundbreaking tech behind Bitcoin that supports crypto transactions. The innovation of the Ethereum Blockchain is that it supports the building and execution of apps. Not like TikTok or Instagram, but rather apps made to move things like crypto or anything else that exists in a digital format.

Like other cryptos, Ethereum can be described in terms of its blockchain and its virtual currency, which is called "ether." Ether is valued for its purpose in the Ethereum Blockchain, where it is used to pay for the execution of apps. Think of Ethereum as an engine and ether as its fuel.

What if you could purchase your first home without having to deal with reams of complicated paperwork? Imagine if there was a digital alternative that could process sensitive documents discretely and record the direct transfer of ownership between buyers and sellers - all without the help of any intermediaries. The idea with Ethereum is that there can be an app for that.

Creating apps for Ethereum can be complex, requiring special software and computer programming experience. Many people buy Ethereum without any intent to build apps because they believe in the possibilities of the technology.

Quick facts

• Ethereum can also support the creation of new cryptocurrencies.
• Ethereum has no supply limit, unlike cryptocurrencies like Bitcoin and Litecoin

Worth searching to learn more about Ethereum

• Ethereum 2.0
• Dapps   
• Cryptokitties