What is Ethereum?

Ethereum is a blockchain-based platform that allows people to build decentralized applications (Dapps). It’s also referred to as “The World Computer”. The Ethereum network has its own virtual currency called Ether which can be used to pay for the services offered by Dapps on the network. However, you don’t have to use ETH if you don’t want to. You can just buy and sell Bitcoin or other cryptocurrencies like Ripple, Litecoin and Dash instead!

How Does Ethereum Work? ? Ethereum is a blockchain-based platform. It’s similar to Bitcoin in the sense that it has its own virtual currency called Ether, but Ethereum also allows you to build decentralized applications (Dapps). These Dapps can be used by other people and they can be accessed through a web browser or even on your smartphone! The Ethereum network uses smart contracts which are computer programs designed for specific purposes. They are very useful because they allow users to make payments without using banks or any third parties. Smart contracts are written in Solidity, an open source programming language created by Vitalik Buterin, the founder of Ethereum. How Does Ether Work? The value of one ether (ETH) is based on supply and demand as well as how much people want to use it for different services offered by Dapps built on the Ethereum network. You can buy ETH from other people who have them stored in their digital wallets or you can earn them through mining – this involves solving complex mathematical problems so that new blocks of transactions can be added onto the blockchain every 15 seconds! If you don’t know what mining is then think about Bitcoin: if there was no way of earning Bitcoins then nobody would mine them! This means that miners get paid when new blocks of transactions are added onto the blockchain every 15 seconds! Mining requires specialised hardware and software which makes it difficult for most regular computers to do so – however, these computers aren’t powerful enough to solve all these complex mathematical problems at once so they need specialised hardware like ASIC chipsets with huge amounts of processing power!
That Ethereum network has a limit of how many ETH are created each day (currently it’s set at 18 million) so the price of ETH is based on supply and demand. The Value Of Ether Is Based On The Demand For It If there is a lot of demand for ETH then the value will increase because more people want to use it – this means that miners need to solve harder mathematical problems in order to earn more money! This makes mining profitable but also increases the difficulty level which means that mining becomes even more difficult over time. If there isn’t enough demand for Ethereum then the price will fall because fewer people want to use it – this means that miners won’t be able to earn as much money and they may stop mining altogether! This can lead to a crash in prices if lots of people decide not to mine or buy any ether at all. However, when there is high demand for Ethereum then you can see an increase in its value too as more people start using it!