ETHEREUM - THE SECOND MOST POPULAR CRYPTOCURRENCY ..........
Most of people heard the names of bitcoin which is first cryptocurrency in the world. In 2009 the price of bitcoin is about 29 $ but now in 2017 the price of bitcoin is approximately 2550 $. Satoshi Nakamoto who designed this coin. In the world of cryptocurrency you may not heard the name of ethereum the second most popular crypto asset that's recently have been giving bitcoin a run for its virtual money.
Now let's see what is ethereum:
Ethereum is touted as 'world computer'. Ethereum was first described by Vitalik Buterin late in 2013. After that Vitalik published the "Ethereum White Papers", where he describe the technical designs and rationale for the Ethereum protocol and smart contracts architecture. Vitalik also started with Dr 'Gavin Wood' and together co-founded Ethereum. In April 2014 Gavin published the "Ethereum Yellow Paper" that would serve as a technical specification for the Ethereum Virtual Machine.
How is Ethereum different from bitcoin:
Actually the short answer is Ethereum can do a lot than bitcoin. Bitcoin is a decentralized currency that would be an alternative to the centralized banking system and fiat currency of national governments. Both ethereum and bitcoin have their blockchains and have their own currencies, and like bitcoin ether can be used as virtual money.
Ethereum also promises to be even more decentralized than bitcoin. The method that bitcoin uses to upload blocks of data to the blockchain is called as mining pits people against each other in a race to be the first to complete the useless math problems. All this does is waste resources, but the computational effort ensures that only serious peoples are contributing is called as "proof of work"
What is Ether?
The ethereum network runs on a crypto asset called as ether.
Ether is how the people pay for things in the ethereum network. At the moment there are 90 million ethers in circulation. No more than 18 million are newly minted each other.
Bitcoin vs Ethereum?
At present time bitcoin miners are expanding resources to make ease of transaction value transfers. In return they are getting newly minted coin . These bitcoin can be used to pay miners to facilitate other transaction on the blockchain. On the blockchain if no transaction happens then bitcoin would be rendered priceless.
Ethereum is a blockchain that tops platform that runs smart contracts. That means it provides a C programming language that be used to create any transaction you want. This type of language is called as 'Turning Complete'. Like in bitcoin there is a fee associated with any transaction. Gas is the internal pricing for running a transaction or expand in ethereum.