What is Ethereum coin ? and How to use it ?
Ethereum is a decentralized, open-source blockchain platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud, or third-party interference. These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property.
Ethereum's native value token, Ether (ETH), is mined through a Proof of Work protocol that is set to change to Proof of Stake. The Ethereum platform is also being used to power many other cryptocurrencies.
To use Ethereum, you need a wallet to store your ETH. There are several options available, such as:
- MetaMask: a browser extension that acts as a wallet and allows you to interact with the Ethereum network from your web browser
- MyEtherWallet: a client-side wallet that allows you to create an Ethereum address and store your ETH locally
- Ledger Nano: a hardware wallet that stores your ETH offline for added security
Once you have a wallet, you can buy ETH from an exchange using a credit card, debit card, or bank transfer. You can also earn ETH by participating in the Ethereum network as a miner or by creating and selling smart contracts on the Ethereum platform.
To use a smart contract on the Ethereum network, you need to send a transaction to the contract address with the desired parameters. The contract will then execute the specified actions and potentially return a result. Transactions on the Ethereum network require gas, which is paid in ETH