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Ethereum Review | Introduction to this popular project

ethereum review

The world of technology is moving towards democracy every day more than in previous years. in the Ethereum Review we want to focus more on the potential of a blockchain network in addition to being a money.

With the advent of BTC, the first cryptocurrency, the ownership of money was taken out of the hands of organizations. If you want to know more about BTC currency, I definitely suggest you read the bitcoin review

Ethereum blockchain features | Ethereum review

The first thing you need to know about ethereum is that ethereum allows other applications to be implemented on its own network. The so-called Ethereum network allows you to register Smart Contracts. For example, there are currently a large number of popular cryptocurrencies on the ERC-20. You can view these tokens in Etherscan

With the help of bitcoin, there was no need for any bank, but with the arrival of ethereum, in addition to the bank, there is no need for any organization or company. For example, even a social media such as Facebook and Instagram can be decentralized with the help of Ethereum blockchain!

Ethereum blockchain features

The most important thing to know in Ethereum review is that there is no possibility of cheating in this network. The reason is the complete transparency of blockchain activities. For example, when someone comments on a topic in this blockchain, that comment can no longer be manipulated.

Introduction to ethereum blockchain

This blockchain is very similar to Bitcoin in many ways. ethereum has a standalone blockchain on which transaction information is recorded. This network, like Bitcoin, does not require a license. In fact, anyone can use the capabilities of this network.

This blockchain currently uses the bitcoin mechanism to create new blocks. This mechanism is called PoW or Proof of Work. In fact, ethereum rewards miners with this mechanism for helping them build new blocks.

The ethereum blockchain also has a proprietary cryptocurrency called ETHER. The ownership of these currencies can be traced on the network of this currency.

What is Ethereum 2.0 | Features of this upgrade

This new version of the ethereum network, which was first released in November 2020, improves the network in many ways.

Etherem currently uses the PoW or proof of work mechanism, in which the construction of new blocks in this network depends on the miners. But in ETH2 this mechanism is going to change to the famous proof of stake mechanism.

Ethereum is more scalable in this version and also improves its security and stability. It is now possible to earn coins by donating to this network on the ethereum website.

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