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What is Ethereum?

Ethereum is the second most popular cryptocurrency in the world, and is often compared to Bitcoin. 

Ethereum is blockchain software that runs on a decentralized network of computers, similar to Bitcoin. However, Ethereum’s aim is to enable a wide range of applications, whereas Bitcoin’s aim is to enable point-to-point money movement.

On Ethereum, developers can create digital products (i.e. NFTs) and mini-programs (i.e. ‘smart contracts’) which enable new ways for individuals to engage with crypto. The ultimate promise of Ethereum is that it becomes a decentralized version of MacOS or Microsoft Windows – that is, a computer that runs software applications for users around the world. 

The crypto that powers the Ethereum blockchain is called ether (symbol: ETH). As of 08/02/22, Ethereum’s market cap is $200B. 


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