What is Ethereum? What are the Altcoins?
Ethereum – ETH ETH Website
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (dApps).
(Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. The code and the transactions are transparent and traceable, and the contracts can be programmed to execute automatically when certain conditions are met.)
(DApps are not controlled by any entity and run on a decentralized network. DApp examples include decentralized exchanges, prediction markets, voting systems, decentralized marketplace, or a social network)
The blockchain is transparent, all transactions are recorded and available for anyone to view. The blockchain is secured by a network of computers, called "nodes," that validate and verify transactions.
Ethereum’s cryptocurrency, called Ether (ETH), is used to pay for transactions on the network (blockchain). ETH is traded on cryptocurrency exchanges and is used by developers to pay for services on the Ethereum platform.
Ethereum switched to a Proof of Stake (PoS) mechanism from the (like Bitcoin) Proof of Work (PoW) (involves mining, consumes electricity) in 2022. This has reduced Ethereum's electricity consumption by 99%. An important factor with ESG (Environmental, Social and Governance) issues in the future.
Generally, the fees for Ethereum transactions are lower than the fees for Bitcoin transactions. This is because the Ethereum network is designed to be more efficient than the Bitcoin network. ETH can process more transactions per second.
Ethereum is also used as a platform for initial coin offerings (ICOs), which are crowdfunding campaigns for new cryptocurrency projects. Investors can buy tokens (cryptocurrency) in an ICO in exchange for a stake in the project.
What are the Altcoins
What are Alt Coins? - Everything other than Bitcoin
Proof of Stake Altcoins Proof of Work Coins
Forks are when a new coin splits off from a coin and forms a new coin usually when developers disagree on the best path into the future and start a different coin.
The first altcoin was Litecoin which forked from Bitcoin in 2011.
Top Altcoins to Buy (when conditions are right) are on the Crypto Moonshots Page
Types of Altcoins
Understanding the Different Types of Cryptocurrency
Ethereum – ETH Website
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (dApps).
(Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. The code and the transactions are transparent and traceable, and the contracts can be programmed to execute automatically when certain conditions are met.)
(Apps are not controlled by any entity and run on a decentralized network.) (dApp examples include decentralized exchanges, prediction markets, voting systems, decentralized marketplace, or a social network)
The blockchain is transparent, all transactions are recorded and available for anyone to view. The blockchain is secured by a network of computers, called "nodes," that validate and verify transactions.
Ethereum’s cryptocurrency, called Ether (ETH), is used to pay for transactions on the network (blockchain). ETH is traded on cryptocurrency exchanges and is used by developers to pay for services on the Ethereum platform.
Ethereum switched to a Proof of Stake mechanism from the (like Bitcoin) Proof of Work (involves mining, consumes electricity) in 2022. This has reduced electricity consumption by 99%. An important factor with ESG (Environmental, Social and Governance) issues in the future.
Generally, the fees for Ethereum transactions are lower than the fees for Bitcoin transactions. This is because the Ethereum network is designed to be more efficient than the Bitcoin network. ETH can process more transactions per second.
Ethereum is also used as a platform for initial coin offerings (ICOs), which are crowdfunding campaigns for new cryptocurrency projects. Investors can buy tokens (cryptocurrency) in an ICO in exchange for a stake in the project.
What are Alt Coins? - Everything other than Bitcoin
Forks are when a new coin splits off from a coin and forms a new coin usually when developers disagree on the best path into the future and start a different coin.
The first altcoin was Litecoin which forked from Bitcoin in 2011.
Proof of Stake Altcoins Proof of Work Coins
Types of Altcoins
https://www.sofi.com/learn/content/understanding-the-different-types-of-cryptocurrency/