I write for the finance and investment website ValueWalk and I posted my commentary entitled What Is Ethereum And How To Buy It? there today. Here is an excerpt:
Let’s start by getting the terminology straight. Ethereum is an open source code designed primarily to govern smart contracts on the blockchain. A smart contract is any contract between parties, especially those that lack a level of trust or credit rating. An example may be the sale of fair trade coffee. How would a wholesale purchaser know the coffee is fair trade? They would feel much more confident if the entire coffee production and preparation process was verified and incorporated into a smart contract that itself is sealed immutably inside a block on the blockchain. Ethereum allows developers to build their own apps on its open platform.
Part of the Ethereum code is Ether, described as the fuel that makes the contracts work. It can also be seen as a currency of sorts, and may emerge as a competitor to, or even replacement for Bitcoin, depending on how the lava flows. Ether is presented in coins, and can also be referred to as an Ethereum coin.
To read more, please visit ValueWalk here.
I write for the finance and investment website ValueWalk. My post entitled How To Buy Bitcoin: A Guide For Beginners is now online. Here is an excerpt:
First, the Wallet
You’ll need a wallet. Not a nice leather billfold, because Bitcoins are not physical. There are no coins and no paper bills involved. It is all virtual. The Bitcoin wallet is an app that you can download to your phone, and your computer. It contains two 16-digit passwords: one is called a public key, and the other is a private key.
Quite simply, when you buy Bitcoin, your wallet sends your public key information to the vendor, the same way you would enter a credit card number into an online form. The public key tells the vendor’s app where to send the Bitcoin amount. The private key is the password you employ to confirm the transaction from your end. This one-time code is reviewed by the computers on the blockchain, who then approve the transaction unanimously as representing your receipt of a certain amount of Bitcoin. Once the code has been accepted by the computers on the blockchain, your wallet’s information will say it has some Bitcoin in it, and then the code is sealed permanently into the next block on the chain.
To read more visit ValueWalk here.