Ethereum (English) is an open source public blockchain platform with intelligent contract function, which provides decentralized virtual machines ("Ethernet virtual machines") through its dedicated cryptocurrency Ethernet.

Ethereum

Virtual

Machine) to handle peer-to-peer contracts.

The concept of Ethereum was first put forward by programmer Vitalik from 20 13 to 20 14.

Inspired by Bitcoin, Butrin put forward the idea of "the next generation cryptocurrency and decentralized application platform", and 20 14 began to develop through ICO crowdfunding.

As of 2065438+February 2008, Ethereum is the second highest cryptocurrency in market value, second only to Bitcoin.

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The concept of Bitcoin was first put forward by Satoshi Nakamoto in 2009. According to Satoshi Nakamoto's idea, open source software and P2P network were designed and released. Bitcoin is a P2P digital currency. Point-to-point transmission means a decentralized payment system.

Unlike most currencies, Bitcoin is not issued by a specific monetary institution. It is generated by a large number of calculations according to a specific algorithm. Bitcoin economy uses the distributed database composed of many nodes in the whole P2P network to confirm and record all transaction behaviors, and uses cryptography to ensure the security of all aspects of currency circulation. The decentralized nature of P2P and the algorithm itself can ensure that the currency can not be manipulated artificially and create a large number of bitcoins. The design based on cryptography can make bitcoin only transferred or paid by the real owner. This also ensures the anonymity of currency ownership and circulation transactions. The biggest difference between Bitcoin and other virtual currencies is that its total amount is very limited and extremely scarce. The monetary system once did not exceed1050,000 for four years, and the total will be permanently limited to 21050,000.

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Digital currency is abbreviated as DIGICCY, which is the English word "digital".

The abbreviation of Currency (digital currency) is an alternative currency in the form of electronic currency. Digital gold coins and cryptocurrency belong to digital currency.

Digital currency is different from the virtual currency in the virtual world, because it can be used for real goods and services transactions, not limited to online games. The early digital currency was a form of electronic currency named after the weight of gold. Nowadays, digital currency, such as Bitcoin, Litecoin, PPCoin, etc., are all electronic currencies created, issued and circulated with the help of checksum cryptography. Its characteristic is to use P2P peer-to-peer network technology to issue, manage and circulate money, which theoretically avoids the examination and approval of bureaucracy and gives everyone the right to issue money.