Bitcoin & Crypto Currencies
Bitcoin & Crypto Currency
Each Bitcoin is basically a computer file which is stored in a ‘digital wallet’ app on a smartphone or computer. People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to other people. Every single transaction is recorded in a public list called the Blockchain.
A Cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Wikipedia
Ethereum is a software system which is part of a decentralized system meaning it is not controlled by any single entity. Ethereum is different to Bitcoin because it expands on its technologies to create a completely new network including an internet browser, coding language and payment system. Goto to Coindesk for further information