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Ethereum is a system first introduced at the North American Bitcoin Conference by Ethereum founder Vitalik Buterin.
Although generally considered a sub coin, Ethereum is essentially an innovative system aimed at developing and using blockchain technology in more areas.**
- Ethereum is, in short, a crypto operating system that takes Ether (ETH) cryptocurrency as its power source.
- The aim is to enable users to create new software on the blockchain system to which Bitcoin is connected.
- Thanks to this freedom that Ethereum provides to users, it allows many sub-coins to be issued.
The Ethereum system is intended to prevent the storage and use of information such as personal data by third parties for different purposes. Almost all the transactions we do from the internet today (shopping, bank transactions, our use of social media, our internet history, etc.) data is recorded in data banks. For what purposes this information will be used, it is a complete unknown.
- With the Ethereum system, these transactions are stored on many different devices in a completely dispersed and anonymous manner.
- In this way, access to this information becomes impossible and turns the entire internet into a decentralized platform.
In order for the software to be included in this decentralized system to be produced, Ehereum aims to use Ether cryptocurrency as a fuel in one aspect.