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We deliver enterprise-grade blockchain solutions for businesses. Build a scalable blockchain ecosystem
Blockchainx - Happy to someone new in the crypto space! I think I’ll give you a fairly short answer to help you understand the concept better.
Bitcoin is basically a digital currency. Well, it was initially released as a currency, but today it’s seen more like a tradable asset or store of value, like gold. The story behind Bitcoin is that in 2008, a person or group of people named Satoshi Nakamoto published a document on a peer-to-peer currency system. The background for this was pf course the economic crisis in the us that affected the global economy. Ethereum is a decentralized platform on which smart contracts are executed. So the above definition makes it clear that Ethereum is not a digital currency (Ethereum's native cryptocurrency is called ether). Put another way, Ethereum is a piece of code that could automatically transfer home ownership to the buyer and funds to the seller after a deal is reached, without the need for a third party.
Developers benefit from the existing Ethereum token development infrastructure to build their applications, unlike those developers who choose to build a completely new blockchain. At the same time, the tokens strengthen the Ethereum ecosystem by driving the demand for ether, Ethereum's native currency, necessary to drive the smart contracts on which tokens are issued.
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