The world's second largest digital currency Ethereum (ETH), an open source public blockchain platform with intelligent contract function, provides decentralized virtual machines to handle peer-to-peer contracts through its special cryptocurrency ETH. The concept of ETH was first put forward by programmer Vitalik Buterin from 20 13 to 20 14, and was inspired by bitcoin. 20 14 began to develop the next generation cryptocurrency and decentralized application platform through ICO crowdfunding. Ethereum is a software running on the computer network, which enables data and some programs called smart contracts to be copied and processed in the network without a central coordinator. The vision of Ethereum is to create a decentralized world computer, which will not stop, resist censorship and be self-sustaining.

First, the connection between Ethereum and Bitcoin.

1, Ethereum will also form a blockchain. Like Bitcoin, Ethereum will also form a blockchain. The blockchain contains data blocks, including transaction data and smart contract codes. After some participants create and dig out the block, they will distribute it to other participants to verify the regularity of this block.

2. Ethereum is an open network without a license. Like Bitcoin, the main network of Ethereum is open without a license. Anyone can connect to the network by downloading or writing their own software, and can start to create transactions and smart contracts, verify transactions and even mine blocks without logging on to the website or reporting to anyone.

3. When mining with PoW, the miners in Ethereum need to work out the solution of a kind of mathematical problem when creating an effective block, and there is no way to solve it. So a lot of electricity must be put into continuous operation by computer.

2. What are the core values of Ethereum?

The core value of Ethereum is advocating scarcity. All the activities of the blockchain Ethereum have brought about a general lack of ether. ETH, as the original asset of Ethereum, has a privileged role. Miners will not affect the supply rules, only users can have knowledge, which establishes an inseparable relationship between the economic activities and financial applications of all assets of Ethereum and the scarcity of ETH.