by Julian Goldie
Conceptually Ethereum is a virtual supercomputer.
In actuality it is designed as a platform to host applications that can run without the need for human interference.The applications are called ‘Decentralized Apps’, and it is explained how they work on Ethereum in this guide.
The cryptocurrency, Ether (usually referred to as Ethereum) is the currency or “utility token” that you pay to use the virtual network. Like Bitcoin and other cryptocurrencies, Ethereum has it’s own blockchain. This is like a record of all transactions on the Ethereum network. It’s stored on nodes (computers, miners, etc.) across the world. However, while Bitcoin’s blockchain just stores transaction records, Ethereum’s blockchain also hosts smart contracts and decentralized applications (DApps). Read On