Many eyes around the globe recently turn to the Ethereum Blockchain when over $29 billion were processed just within 24 hours – a figure greater than the combined strength of the six leading blockchains such as Ethereum Classic, bitcoin gold, Dash, Litecoin, bitcoin cash, and even bitcoin itself. Despite being a relatively young platform, Ethereum currency has made giants strides in both growth and development.
Unlike bitcoin which requires about 10 minutes to complete transactions, Ethereum employs a rather more efficient blockchain technology that allows for a much faster transaction. It is interesting to know that the network can create a new block every 15 to 20 secs. It may also interest you to know that other digital currencies such as Tether and Tron have decided to join in Ethereum’s network due to its overwhelming efficiency.
Understanding How Ethereum Operates
Even without a central coordinator, computers can replicate and process data and small contracts (computer programs) on the network. This is a different kind of blockchain technology that requires a network of computers to run as software. The main focus here is to establish a world computer that is self-sustaining, censorship-resistant, and unstoppable. It is these features that would enable Ethereum to build …
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