Global Ethereum
bitcoin network is actually a set of distributed database, while Ethereum can be further seen as a distributed computer: the blockchain is the ROM of the computer, the contract is the program, and the miners of Ethereum are responsible for the calculation and play the role of CPU. This computer is not and can't be used for free, otherwise anyone can store all kinds of junk information and perform all kinds of trivial calculations in it. To use it, you need to pay at least the calculation fee and storage fee, as well as other expenses
the most famous enterprise Ethereum alliance was established in early 2017 by more than 20 top financial institutions and technology companies in the world, including JPMorgan Chase, Chicago Board of exchange group, Bank of New York Mellon, Thomson Reuters, Microsoft, Intel and Accenture. And Ethereum's cryptocurrency, Ethereum, has recently become a popular asset after bitcoin
Ethereum is likely to rise to 10000 in 2021
institutional investors and big capital are increasingly interested in cryptocurrency. The attention of all whales, and the attention of all the public, is focused on bitcoin. Since the global health and safety incident triggered the market crash in March 2020, the growth of eth has reached 1200%
while BTC only increased by 700%. Of course, in the context of bitcoin's record high price of 40000, Ethereum's rise to $1400 does not seem so impressive. In addition, the market value of eth is five times the trading volume of BTC market
extended information:
the increase of Ethereum is as follows:
the transaction volume recorded on Ethereum blockchain exceeds US $1 trillion. These figures exceed the transaction volume of payment giants such as PayPal, which is used by more than 350 million users and whose average transaction volume is generally less than $200 billion per quarter
each transaction will generate network fees paid by eth. Moreover, as the growth rate of the network is still very high, we can confidently expect the "bull market" trend of eth to continue. In any case, interest in cryptocurrency is growing, as are the number of active wallets, the number of transactions on the Internet, and the average size of transactions
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what is Ethereum
Ethereum is often compared with bitcoin, but the situation is different. Bitcoin is a kind of cryptocurrency and distributed payment network, which allows bitcoin to be transferred between users
the Ethereum project has a bigger goal. As Ethereum said, "Ethereum is a distributed platform running smart contracts.". These smart contracts run on "Ethereum virtual machine", a distributed computing network composed of all devices running Ethernet nodes
"distributed platform" means that anyone can set up and run an Ethereum node just as anyone can run a bitcoin node. Anyone who wants to run "smart contracts" on nodes must pay the operators of these nodes in ether, which is a cryptocurrency related to Ethereum. Therefore, the person running the Ethernet node provides computing power and gets paid in the Ethernet, which is similar to the way that the person running the bitcoin node provides hash power and pays in bitcoin
in other words, although bitcoin is only a blockchain and payment network, Ethereum is a distributed computing network, and its blockchain can be used for many other things. Details are provided in the Ethereum white paper
what is smart contract
smart contracts are applications that run on Ethereum virtual machines. This is a distributed "world computer" with computing power provided by all Ethereum nodes. Any node providing computing power will pay in ether digital currency as a resource
they are named smart contracts because you can write "contracts" that execute automatically when you meet the requirements
for example, imagine building a KickStarter like crowdfunding service on Ethereum. Someone can set up an Ethereum smart contract to pool funds to others. The smart contract can be written as follows: when $100000 of currency is added to the pool, it will be sent to the recipient. Or, if the $100000 threshold is not reached within a month, all currencies will be returned to the original holder of the currency. Of course, this would use ether instead of dollars
all this will be done according to the smart contract code, which can automatically execute the transaction without the need for a trusted third party to hold the currency and sign the transaction. For example, KickStarter charges 5% above the 5% payment processing fee, which means it will charge $8000 to $10000 for a $100000 crowdfunding project. Smart contracts don't have to pay a fee to a third party like KickStarter
smart contracts can be used for many different things. Developers can create smart contracts to provide functions for other smart contracts, similar to the way software libraries work. Alternatively, smart contracts can simply be used as applications to store information on the Ethereum blockchain
in order to really execute the smart contract code, someone has to send enough Ethernet tokens as the transaction fee - how much depends on the required computing resources. This costs the Ethereum nodes to participate and provide computing power. The global shared matrix project, which is completely decentralized, aims to preach Ethereum and let more players know Ethereum, smart contracts and forsage code btshijie
Compared with bitcoin's prestige, although the rise of the value of ether currency is more terrible than that at the beginning of the year, its reputation and market scale are still inferior to bitcoin. Peter szilagyi, director of bitcoin development team, brought the data of Ethernet network nodes to Google Earth to tell you clearly how Ethernet will dominate the digital currency world in the future
in the two years since its birth, Ethereum has rapidly occupied the rich countries or regions in the world
if we compare the richer regions in the world, such as Europe and North America, with the poorer regions in Asia and South America, & quot; In an email interview with CNBC, szilagyi wrote: & lt; You will find that the density of active nodes is related to the transportation convenience, instrialization and affluence of the region. In my opinion, this correlation is e to the relatively concentrated resources required for the full operation of Ethereum& rdquo;