What is Ethereum?

Livetree
Livetree
Published in
2 min readApr 26, 2021

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You may have heard of Bitcoin, but have you heard of Ethereum?

Introduction to Ethereum

Ether (ETH) is the cryptocurrency of the Ethereum network. In fact, after Bitcoin, it is the second largest digital token in the world. Ether has two core purposes. One: you can trade it as a digital currency. Two: you can use it within the Ethereum network to run applications.

Most importantly, Ether is a decentralised token. Decentralised in this context means it is not regulated by any central bank or authority. Therefore, any financial contracts using Ether are tamper-proof. Because of this, you can trust that your tokens are protected.

History

Bitcoin was launched in 2009, which signalled the emergence of a radically new form of digital currency that operates outside the control of any government or corporation.

In 2015, Ethereum was born, and Ethereum proposed to utilise blockchain technology in a new way. The network began to realise that the innovations of blockchain could not only be used in the maintenance of decentralised payments, but for storing computer code. This programming then went on to power decentralised financial contracts, known as smart contracts, as well as form the basis for applications.

Ethereum is now the largest and most well-established, open-ended decentralised software platform in the world. Most importantly, the network enables the birth of decentralised applications or dapps to be built and run safely. It ensures that no fraud, control or interference from a third party will take place.

Livetree

Our new app, launching in summer 2021, will represent a new wave of social media. It will not only provide its users a simple way to capture and consume live video content but effectively enable decentralised marketplaces using Filecoin’s decentralised technologies. Our Parachain Seed Tokens (PSED) will soon be available to swap on the Ethereum blockchain.

Discover more on our telegram group.

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