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What is Ethereum (what is making money with Ethereum)

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what is called Ethercoin

what is called Ethercoin Ethercoin is a Cryptocurrency, which is considered to be the most commonly used token in the blockchain. Ethereum’s consensus mechanism is very similar to Bitcoin. It is run by miners and obtained through algorithms, so it conducts transactions on the network. But its working principle and design philosophy are also different. Ethereum is a digital token issued by developers using smart contracts. The value of this encrypted asset is mainly based on three aspects: one is the token economy model, which allows the system to create, transfer, and validate blocks with a certain hash rate; The other is the decentralized financial agreement – MakerDAO Essentially, Ethereum is an important component of the Ethernet ecosystem. At present, the Ethereum project has a considerable number of applications, including decentralized exchanges, decentralized lending markets, and other applications, but these applications have not yet been widely used

What is making money with Ethereum

What is making money with Ethereum?

? At present, digital currency investors are familiar with Ethereum mining methods, but many ordinary users cannot participate in Ethereum due to the emergence of games such as Crypto Cat. Therefore, many people do not know how to buy Bitcoin, Litecoin and other mainstream currencies The first thing to know is that Bitcoin is traded through computational power; Ethercoin is a smart contract platform on the Ethereum network. Its token Ether (ETH) is also a token issued by the community based on ERC20 standard. This token is also known as the “Stablecoin”, which means that it runs and circulates on the blockchain, and no central institution can interfere with its value

The second is to invest in Ethereum. Ethereum is an open source project with its own mechanism to enable people to research and develop various DeFi applications. For example, many DeFi products are built based on Ethereum. As a public chain project, Ethereum uses PoW algorithm+Proof of work (POC) consensus mechanism to achieve high TPS features, while supporting smart contract functions, which is completely different from BTC

In addition, if you want to become an Ethereum holder of Ethereum enthusiasts, you need to deposit your funds in the exchange or wallet first, and then transfer the assets out of the exchange or wallet in a compliant way, so that you can gain income. So you can buy some Bitcoin and Litecoin with Ethercoin, or you can buy ETH, LTC and BCH directly.

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