What is Ethereum, Ethereum mining, Ethereum price, cryptocurrency


Ethereum

You have read some article regarding this Ethereum and cryptocurrency, However never understood what really Ethereum or Ether in  digital world. So here is the simplified infographic version which can be easily understood by normal people like you and me ☺.


So What is Ethereum ?

Ethereum is a digital currency or cryptocurrency, designed on a block chain platform, a decentralized application that can be used by anyone. Ethereum cannot be controlled like BITCOIN. Ethereum platform was globally designed by many people. 

Ethereum has a strong protocol unlike BITCOIN, in which the user can create an application or use the tool safely with the introduction of Homestead. It is designed to be flexible and adaptable by a large audience.

Ethereum price ?

While writing this article the price of Ethereum 1ETH is $300+ 
Price is increasing day by day.

You might be having several questions in mind ? Like 

How do I mine ether or Ethereum ?
How to mine ether ?
Ether mining ?

The Ethereum network is kept running by computers all over the world. In order to reward the computational costs of both processing the contracts and securing the network, there is a reward that is given to the computer that was able to create the latest block on the chain. Every 12 seconds, on average, a new block is added to the blockchain with the latest transactions processed by the network and the computer that generated this block will be awarded 5 ether. Due to the nature of the algorithm for block generation, this process (generating a proof of work) is guaranteed to be random and rewards are given in proportion to the computational power of each machine.

This process is usually called mining in the crypto-currency lingo.

Transaction Fee

Ethereum, do have a small transaction fee just like BITCOIN, whereas users pay a relatively smaller amount to the executor of the networks.Every sender has to pay the fees at each and every step of the activated program that includes the memory storage and computation. The amount of the fees is paid equivalent to that of native of Ethereum, i.e. ether- value-token. The nodes collect the transaction fees that in turn validates the network.

Ethereum is the current world market hot cake. Monetize this opportunity smartly. And become a monetizesmartly fellow. ☺

For further info:





Thanks for your comment