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What Is Ethereum and How Does It Work?

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What is the second cryptocurrency and the first altcoin? The common answer is Ethereum. Still, it is quite special, and one needs to learn more about it to understand its differences.

For example, its functions are much wider than those of Bitcoin. If you want to know why Ethereum is needed, how it works, who is behind it, and whether it is worth buying as an investment, you will find the answers further. Definition and Basic Terms Ethereum was developed to be a universal system of contracts that utilize blockchain technology.

That is why it is not a cryptocurrency at all. The latter, of course, is needed to run apps inside the system and is called Ether.The system that got the name Ethereum can be utilized for the creation of any service or app.

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