Ethercoin (ETH) is a digital token of Ethereum, which is regarded as “Bitcoin version 2.0â€. It uses the blockchain technology “Ethereum†which is different from Bitcoin. Developers need Pay Ether (ETH) to support the operation of the app. Like other digital currencies, Ethereum can be traded on the trading platform.
In general, Ethereum is a platform that provides modules for users to build applications. Specifically, Ethereum builds an application through a set of Turing's complete scripting language (Ethereum VirtualMachinecode, EVM for short). It is similar to assembly language. We know that programming directly in assembly language is very painful, but programming in Ethereum. It does not need to use the EVM language directly, but is similar to C language, Python, Lisp and other high-level languages, and then converted to EVM language through the compiler.
The application on the platform mentioned above is actually a contract, which is the core of Ethereum. The contract is an automatic agent living in the Ethereum system. He has his own Ethercoin address. When the user sends a transaction to the contract's address, the contract is activated and then based on the additional information in the transaction. The contract will run its own code and finally return a result, which may be an additional transaction from the contract's address. It should be pointed out that the transaction in Ethereum is not just to send Ethereum, it can also embed quite a lot of extra information. If a transaction is sent to the contract, then this information is very important, because the contract will complete its own business logic based on this information.
The business that the contract can provide is almost endless. Its boundary is your imagination, because Turing's complete language provides complete freedom, allowing users to build a variety of applications. The white paper gives a few examples, such as savings accounts, user-defined sub-currencies, and so on.
Chris Burniske, analyst and blockchain product director at ARK Investment Management, said bitcoin is more used for value preservation, while Ethereum, which relies on the Ethereum network to execute smart contracts, is more seen as a trading tool.
Both Bitcoin and Ethereum systems are based on blockchains, where transactions are publicly recorded, currency and asset transactions are more convenient and concessions, and cumbersome intermediaries are removed.
In December 2015, the price of Ethereum was less than $1, and it has now risen to $15, which has risen nearly 15 times in just six months. This result is attributed to Ethereum, whose financial contracts are completely dependent on software, which attracts a large number of users to invest.
With the previous example of Ethereum, the success of DAO (Decentralized AutonomousOrganizaTIon) is nothing to be fussed. The crowdfunding platform supported by Ethereum raised nearly $150 million from more than 10,000 anonymous users. Each participant is given the right to vote, they can allocate funds, choose projects, and once the investment project is successful, they can also receive a certain amount of dividends.
Different user groups for Ethereum and BitcoinThere are currently 670 Bitcoin ATMs in the world, and thousands of points of sale support bitcoin payments. Unlike Bitcoin, Ethereum has not yet emerged in the field of electronic payments. The current main use of Ethereum is to support Ethereum networks (such as DAO) to run programs.
David Duccini, executive director of StrengthinNumbersFoundaTIon, said:
User expectations for Ethereum differ from Bitcoin. Both cryptocurrencies can be speculatively traded, but the original function of Ethereum is to support the application's operation. So users need enough Ether to run their own apps. This is also the problem facing DAO - unless DAO can continue to generate new Ethereum, otherwise the paid platform will be in danger of being out of service.
Ethereum has become popular in recent years. More and more investment has begun to join the ranks of mining. Investors know that mining requires mining machines. The calculation of mining machines directly determines the speed of mining, so the higher the power The mining machine, the higher the price, then how much is the E-dollar mine.
100M is about 0.7 a day. Using electricity 24 degrees, own mining machine, 100M mining machine costs about 7000, the current daily production value of the ether is about half of the bitcoin, no currency has reached this height before, as the mining currency, the daily output value of the mineral coin exceeds Bits are still very likely. In the current situation, the wages given by the ether are high and the miners are flowing to the ether.
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