You probably aren't familiar with what ethiopia is. No big surprise there, since there are so many different new currencies each day. But Ethopian is certainly a crowd-pleaser. The name of the digital currency is taken from the ethiopian folk music, which goes back to the classical music of that nation.
What is Ethereum? In the future the Internet will be even more popular than today, and probably sooner. Developers have already created software called nodes, which nodes are the ones that participate in thechain, which is the way the transaction happens. The transaction happens between two participants, or nodes. Now imagine if you could use your computer to participate in the transaction, which happens in the future when you can use what is called a smart transaction or a smart contract to make payments and buy/sell from any computer with the needed coins (ether).
Now if you could mine the ethereals, you would make money! Sounds fishy doesn't it? Well, that's basically what is ethereum mining all about. Mining is simply the process of discovering a solution to a problem, then people try to find ways around it, like doing a "scam" transaction by making an illegal purchase and reselling the same item, which gets them the profits. This is called ethereality, which is what is being called "f2pooling" in the world of digital currencies.
So what is ethereum mining? Well, it's a new way of minting money from smart contracts, which is an entirely new way of minting money in the world of digital currencies. So basically, what is ethereum mining is like in a way, but it's more lucrative because it's not actually physical mining. What happens is that there will be a group of miners that discover a solution to a particular problem, and they'll then attempt to get others to join in and help them "mine the currency".
Why is it called "decentralized autonomous organizations"? Well, because this technology, when used properly, makes it so that one group can certify that a particular transaction has happened, which will then be accepted by the rest of the network. So imagine if a business has a really good idea for a new product, but they don't have the capital to go into production. But because this particular product allows them to work in conjunction with other businesses, it is called a decentralized autonomous organization.
So in conclusion, what is ethereum is a protocol that will allow its users to transact in a highly efficient manner. It also allows its users to form their very own decentralized autonomous organizations that have exclusive control over their own funds and resources. And lastly, what is ethereum mining? Well, if you want to become one of the miners, all you have to do is participate in the proof-of-work that will be done by the decentralized autonomous organization. And again, this is how ethereum works.
Now, since the creator of the decentralized ledger named Vitalik Buterin decided to launch an initial coin offering, the community took a long hard look at how best to create a platform that was safe, reliable, secure, free of middle men, and best of all, would continue to operate in a way that would allow everyone to participate without any potential abuse. Because of his research, we now know what is ethereum. What happens is that a smart contract, or smart contract software, called a Smart Contract, is written to run on the ethereum network. These smart contracts then allow users to interact with each other using the Internet without having to use any cash. Think about this for a moment because imagine that you are doing business on the ethereum network...
You will need to sign up and download the smart contracts onto your computer first. Once you have done that, anyone can log into your account and conduct transactions and send you ether by converting your existing balances from their own wallet or from another bank. With that said, this is how ethereum works and this is how it will allow everyone the freedom and ability to create the apps they want on the network. So what is ethereum? It is truly the future of decentralized finance.