read.cash Log in
@cryptotalk96 more from that month

Bitcoin is primarily used as a ledger for transactions (not known for speed), and although it is often mentioned in the same sentence with Ethereum, the two are used for different purposes. Ethereum is a decentralized platform largely used for running applications (much like a computer). It is also used for monetary transactions but its usefulness is extended because of its smart contract capability. Smart contracts are programs that can be called by anyone with an Ethereum address and interact with them. Smart contracts can do many things on behalf of an address; some even require multiple signatures to perform certain operations, depending on how they are coded. People that want to run applications on Ethereum pay gas fees to prioritize operations (programs). Many applications called dApps (decentralized apps) operate on the Ethereum network today, from gaming to AI dApps and many more.

No comments yet

Log in to join in Reading is open to everyone. Replying needs an account.