Ethereum Coin (ETH): This is behind the Bitcoin competition!

Ethereum is a decentralized system based on a blockchain that allows data to be exchanged without the need for central servers. Instead, a peer-to-peer network is used. The idea came originally from Vitalik Buterin, who published the first Ethereum White Paper in 2013. This approach was subsequently developed by Dr. med. Gavin Wood. The actual launch of the decentralized network finally took place in July 2015. It is relatively obvious that the Ethereum Coin was inspired by Bitcoin. However, there are also key differences: Bitcoin is a pure cryptocurrency, while Ethereum is a network with its associated digital currency. This is called Ether and currently has the second highest market capitalization of all non-governmental payment units.

Smart contracts enable the handling of complicated transactions
The central element of the innovative network are the so-called Smart Contracts. These are agreements that can be tied to conditions. An example of this is the sale of a stock. The Smart Contract then determines that the money will be transferred as soon as the stock changes hands. The applications are still much more versatile. There are virtually no limits to users when it comes to programming smart contracts. There should be a lot of potential especially in the area of ​​the Internet of Things. Because the more devices are equipped with smart functions, the more often there will be paid applications there. In addition to Ethereum, however , the crypto currency IOTA also wants to establish itself in this area.