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If you want to know what is Etherium and how it works and where to buy it, this guige is for you.  Important Note: This guide assumes a basic understanding of blockchain technology. If you’re unfamiliar with blockchain, check out this step by step introduction for beginners Bitcoin for beginners.

What is Ethereum ?

Beyond Bitcoin & first generation decentralized applications

Although commonly associated with Bitcoin, blockchain technology has many other applications that go way beyond digital currencies. In fact, Bitcoin is only one of several hundred applications that use blockchain technology toda.

Until relatively recently, building blockchain applications has required a complex background in coding, cryptography, mathematics as well as significant resources. But times have changed. Previously unimagined applications, from electronic voting & digitally recorded property assets to regulatory compliance & trading are now actively being developed and deployed faster than ever before. By providing developers with the tools to build decentralized applications, Ethereum is making all of this possible. Basic Knowledge

At its simplest, Ethereum is an open software platform based on blockchain technology that enables developers to build and deploy decentralized applications.  Is Ethereum similar to Bitcoin? Well, sort of, but not really. Like Bitcoin, Ethereum is a distributed public blockchain network. Although there are some significant technical differences between the two, the most important distinction to note is that Bitcoin and Ethereum differ substantially in purpose and capability. Bitcoin offers one particular application of blockchain technology, a peer to peer electronic cash system that enables online Bitcoin payments. While the bitcoin blockchain is used to track ownership of digital currency (bitcoins), the Ethereum blockchain focuses on running the programming code of any decentralized application.

In the Ethereum blockchain, instead of mining for bitcoin, miners work to earn Ether, a type of crypto token that fuels the network. Beyond a tradeable cryptocurrency, Ether is also used by application developers to pay for transaction fees and services on the Ethereum network.