Ethereum is not the typical cryptocurrency like, for example, Bitcoin. Rather, Ethereum is a blockchain platform that primarily has the purpose to allow the creation and management of smart contracts and distributed applications.
Bitcoin is a peer-to-peer form of electronic cash that does not require any third party to be involved for a transaction to take place. A revolutionary invention, the Bitcoin digital currency aims to cut the middle man and give the power to the regular consumer when it comes to sending and receiving money. It does this by substantially cutting fees and limits compared to the usual way to send and receive money (e.g. using a bank).
By now, we are sure that everyone has heard of cryptocurrencies and Bitcoin, but not everyone knows about blockchain or understands what exactly it is.
Essentially, blockchain is a decentralized and publicly available register of all data in the network that is open for viewing to all users at all times, but no one can edit or alter any of the information that has already been recorded in the database. This is achieved by cryptographically securing the network which makes it practically unbreachable and is exactly what makes the blockchain technology so powerful.
Cryptocurrency mining is a procedure that is used to validate cryptocurrency transactions and, at the same time, to create new units of the cryptocurrency.
As cryptocurrencies continue to gain traction, more and more people are interested in trading them or investing in them. At the moment, there are mainly two ways one could invest in or trade cryptocurrencies.
It’s been nearly a decade since the first cryptocurrency, Bitcoin, was introduced to the world in 2009. From then onwards, Bitcoin has amassed a huge following and thousands of other cryptocurrencies emerged on the scene to join the cryptocurrency hype.
So, let’s start from the beginning by first discussing “what is a cryptocurrency?”.
Forex Education - Basics:
Forex Education - FX Brokers:
Forex Education - Technical Analysis: