Ethereum in 2019 - PixelCrayons

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Ethereum in 2019

• All you need to know

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A well-known and heavily used public blockchain
model
A survey report by Deloitte unveiled which
blockchain is getting maximum support.
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What is Ethereum?

• Similar to bitcoin, a public blockchain model.
• Launched in 2015, popularly known as blockchain
  2.0
• Open-ended decentralized software which runs on
  blockchain technology.
• Used for both digital currencies and smart
  contracts.

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What is the currency of Ethereum?

• Ether!
• Used as a fuel to make power transactions.
• Serves two purposes- one for digital currency and
  the other for running apps.
• Used to convert non-revenue generating works to
  revenue generating ones.

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What is the structure of Ethereum blockchain?
Just like bank accounts, Ethereum uses accounts
to record transactions. It has no spent or
unspent records to track the balance. There are
ether tokens to decide who has how much with
them. Transaction recording in ethereum is
automatic and not manual like in bitcoin. Every
node in its record stores the history of the
entire transaction.
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Is Ethereum decentralized?

• Yes!
• It introduced smart contracts which do not allow
  any third party to make changes.
• Here is an image that elaborates the benefits of
  its decentralized nature.

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What is Ethereum mining and how does it work?

• It is participation in its network in complete
  agreement.
• Those who do so are called miners, rewarded for
  their solutions.
• Miners help in smooth running of transactions by
  analyzing blocks efficiently and constantly.

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How it is different from Bitcoins?
Both of these technologies can be used to send
and receive digital currencies. Along with this,
Ethereum can be used to develop smart
contracts. Ethereum is much faster than bitcoin
as it takes few seconds time whereas bitcoin
conducts a transaction in minutes time. Ethereum
transactions are programmable unlike the manual
transactions of bitcoin. This makes it better
than bitcoin but it is not as popular as bitcoin
until now.
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Final words
Ethereum provides many such technologies that are
not offered by other technologies like bitcoins.
We can conclude that it is the newer and better
version of bitcoin. It outshines other
technologies like bitcoin.
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Why wait for others to zoom ahead?
PixelCrayons is a leading blockchain developer.
We develop blockchain softwares which are suited
to your requirements and help you grow your
business. Your satisfaction is OUR pride. For any
queries feel free to check our services _at_
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THANKS! Any questions? Contact Us
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