➫ The second project in the field of currencies after Bitcoin comes Ethereum.
➫ In this brief post, we explain to you a small part about it. We continue to provide content through which you can understand the market and #العملات_الرقمية
➫ Ethereum is a blockchain, with a computer built into it.
➫ So we can think of it as the basis for building applications in a decentralized, permissionless, and censorship-resistant way.
• To simplify the matter further:
➫ Ethereum is a network in which applications are executed on the blockchain.
• Comparing Ethereum to Bitcoin
➫ The primary purpose of Ethereum is to be a currency payment network like Bitcoin.
While Ether ($ETH) is necessary for the operation of the network, $ETH is intended as an auxiliary currency to pay network usage fees.
➫ Ethereum is a public, programmable blockchain that executes code.
➫ Ethereum can act as a computer and applications can be executed on it.
➫ That's why you can have decentralized applications on it.
If you do not know what decentralized applications are, I advise you to read the previous article
➫ Units of Ether currency
➫ Ether can be divided into smaller units down to the smallest possible unit called wei
Like any coin (cent)
➫ What is wei
It is the smallest unit of Ethereum, but you often use Gwei (tied to gas fees) and Ether ($ETH).
◩ Externally Owned Accounts (EOA).
➫ The type of account you can create through your wallet is called an externally owned account (EOA).
• These accounts contain a private key.
• If anyone has access to the private key, they can access funds or contracts.
➫ Only externally owned accounts can initiate transactions
◩ Simply, with the help of your wallet, you can access your account (EOA) and run applications.
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