What is Ethereum? A Step-by-Step Startup Guide for Beginners - Ethereum is an open-source platform, based on blockchain technology, allowing software developers to build smart contracts and decentralised applications & it supports the latest & modified version of Nakamoto consensus via transaction-based state transitions.

2. What is Ethereum?
Ethereum is an open-source platform, based on blockchain technology, allowing
software developers to build smart contracts and decentralised applications & it
supports the latest & modified version of Nakamoto consensus via transaction-
based state transitions.
Ethereum was created in 2014 by lead-developer Vitalik Buterin and is now the
second most valuable coin in the cryptocurrency industry.

3. Ethereum and Ether:
People generally use the terms Ethereum and Ether mutually. However,
they are different.
Ethereum is the smart contract network, although Ether is the token or
coin needed to fuel it. With many latest technologies and names, most
people call both "Ethereum" and use the currency code ETH.

4. Benefits of Ethereum?
Ethereum platform benefits from all the properties of the Blockchain technology
that it runs on. It is completely ignore to any third party interference, which means
that all the decentralized applications developed within the network can’t be
controlled by third party at all.
Mutiple Blockchain network is formed around a basis of unity, meaning that all the
nodes within the platform need to agree on single change made within it. This get
rid of possibilities of fraud, corruption and makes the network very secured.
The whole network is decentralized, which means there is no way single point of
failure. So, all the apps will always stay online and never go to offline. Moreover,
the decentralized terms and cryptographic security make the Ethereum platform
well protected against possible of hacking attacks and criminal activities.

5. What is the difference between Bitcoin and
ethereum?
Like Bitcoin, Ethereum is a distributed public blockchain platform. Although
there are some important technical differences between the both like :
Bitcoin and Ethereum differ considerably in purpose and capability.Where
Bitcoin stores a list of balances and transactions on its blockchain, the Ethereum
blockchain is designed to store different types of data. This data can be accessed
and used by computer programs running on the Ethereum blockchain. These
programs are called decentralized apps, or dapps.

6. What can Ethereum be used for?
Ethereum allow developers to build and deploy decentralized apps. A
decentralized applications or Dapp serve some particular benefits to its users.
For example, is a Dapp that offers its users with a P2P electronic cash system
that allows online cryptocurrency payments. Because decentralized applications
are made up of programming code that runs on a blockchain technology, they
are not controlled by any individual or third party.

7. What can Ethereum be used for?
Ethereum is also used as a platform to launch other cryptocurrencies. being of
the ERC20 token standard described by the Ethereum network, other developers
can issue their own token and raise funds with an initial coin offering (ICO). In
this fundraising approach, the issuers of the token set an amount they want to
raise, provide it in a crowdsale, and receive Ether in exchange. Billions of dollars
have been raised by ICOs on the Ethereum network in the past years, and one of
the most valuable & profitable cryptocurrencies in the world, EOS, is an ERC20
token.
Ethereum has recently launced a new standard called the ERC721 token for
tracking unique digital equity. One of the biggest use cases currently for such
tokens are digital collectibles, as the base allows for people to prove ownership of
scarce digital goods.

8. What is a smart contract?
A smart contract is an agreement between two parties in the form of computer
code. They run on the blockchain technology, so they are stored on a public
ledger and cannot be changed.The online transactions that happen in a smart
contract processed by the blockchain technology, which means they can be sent
automatically without a middleman.The online transactions only happen when the
conditions in the agreement are met there is no middleman, so there are no issues
with trust.
check out deeply about What is Smart Contract & It's benefits here!

9. Ethereum and the future
Ethereum is full of possibilities. It may have the power to disrupt different
industries, with new innovation ideas developing all the time. Ethereum is not
just a cryptocurrency, but it’s base for smart contracts, crowdfunding, and other
potential applications, offering that was previously unavailable in the
marketplace. Together, these aspects give Ethereum the significance that long-
term success will be in order.
Ethereum’s developers are working with programming code that other
blockchain technologies shortage, and that’s the dynamic ability to build other
cryptocurrencies off of the Ethereum blockchain network. ICO’s are validated by
the Ethereum blockchain platform, meaning without Ethereum other tokens
cannot exist. This positions Ethereum to become one of largest cryptocurrency
platform in the world.

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12. THANK YOU
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