What is Ethereum?


What is Ethereum?

What is Ethereum? Imagine a decentralized world. A world where people directly, without the need to trust corrupt intermediaries, deal with decentralized programs, sign contracts, and use a variety of financial and non-financial services; Systems controlled by the people never stop and no one can interfere in their work. Ethereum has stepped in to achieve this goal. In this article, we will first explain the simple Ethereum and its various aspects so that you can better understand this complex network. Then we review the history of Ethereum and its future plans. We also take a look at the price of Ethereum. At the end of this article, you will get acquainted with the best wallets of this digital currency and learn how to buy Ethereum.


What is an Ethereum?

At its simplest , Ethereum is a free infrastructure based on China Blockchain technology on which decentralized computer applications can run. Ethereum decentralization means that the system alone does not belong to anyone and is not controlled by one or more specific individuals. Everyone can own this network and everyone can play a role in controlling it. Thanks to the distributed and decentralized structure of Ethereum, once a program is implemented on the Ethereum network, it can no longer be stopped and manipulated, even if its creator wishes.

Ethereum is a decentralized platform for smart contracts,” Ethereum‘s official website said. “There is no possibility of disruption, censorship, fraud or interference by third parties for programs running on the network.”

What is the purpose of the Ethereum?
When asked by Joseph Lubin, one of Ethereum’s main developers, about the purpose of the network, he replied:

Ethereum was created so that we would not need any bank, company or institution other than ourselves to do our life.


In 2008, an anonymous person named Satoshi Nakamoto introduced Bitcoin. Bitcoin is arguably the first decentralized, digital, and distributed monetary system. With the help of a concept called “blockchain”, the Bitcoin network distributes information about money transactions on computers around the world instead of banking and central servers, and in this way it can transfer value (money) to any point, regardless of companies, governments and intermediaries. Transmit from the world.

Ethereum has gone one step further and enabled decentralized execution of computer code (smart contract) so that we can decentralize other processes in addition to money.

The introduction article (Whitepaper) of this project was published in 2013, and in 2015, the Ethereum network officially started operating. The main idea of the project was a young Russian-Canadian named Vitalik Buterin, who was a supporter of Bitcoin and, inspired by Bitcoin, came up with the idea of “decentralizing everything”.

Decentralize everything

To better understand Ethereum, consider apps like Telegram or Instagram. Today, millions of people around the world use these useful communication and messaging programs. But there is a very fundamental issue about them that few people pay attention to: these programs are focused.

For example, Instagram belongs to Facebook. The company may, in accordance with its policies, delete content, block access to certain people, or even sell users’ private data. Theoretically, with Ethereum, this decentralized platform could create an Instagram where, instead of Facebook, the real owner is its users and they control their data only themselves.

Of course, it should not be forgotten that Ethereum is still at the beginning of the road, and at least at the present time, its technical problems do not allow us to build a large system like Instagram on it.

As another example, free and transparent elections can be held with the help of this network (if there are some necessary conditions); An election in which there is no possibility of fraud.

Any other centralized service can be decentralized with Ethereum . Important matters such as payments, insurance, voting, banking, lending, and many of the services now provided by intermediaries will be decentralized to this network.

Anyone can develop their own decentralized application (Dapp) in the open Ethereum network. Before Ethereum , developers had to code a separate Chinese blockchain to build their own digital currency, but today everyone can easily use the Ethereum China blockchain for their own independent digital currency projects or tokens without building a new blockchain. (Token) Make.

Ether; Ethereum Digital Currency

Ether; Ethereum Digital Currency

The digital currency of the Ethereum network is called “Ether” and its abbreviation is ETH. This asset is considered as the monetary unit of the network as well as a way to pay expenses and commissions. Therefore, as the acceptance of the Ethereum network increases, so does the value of ether in theory.

Among the members of the digital currency community, the digital currency of the Ethereum network is also called Ethereum, but in fact it is called Ether. So if you see “Ethereum Purchase”, “Ethereum Analysis” and., It means the same ether.

Ethereum: A blockchain-based network
Ether: The digital currency of the Ethereum network.

Many people today are investing in this digital currency with hope for the future of Ethereum. Ether can be purchased from digital currency exchange sites and stored on wallet software on a mobile phone or personal computer. Read more about ether and how to store and buy it.

Similarities and differences between Ethereum and Bitcoin


is China’s first blockchain network and the first decentralized digital currency, the best way to fully understand Ethereum is to examine its similarities and differences with Bitcoin.

Ethereum and Bitcoin similarities

  • Ethereum also has its own independent China bloc

Like Bitcoin, Ethereum also has a blockchain. Information about smart transactions and contracts is recorded on the Chinese blockchain. Blockchain is a secure, immutable digital notebook for storing data and information.

  • Ethereum is also public and does not require a license

Like Bitcoin, the Ethereum network is public and accessible to anyone. Anyone can use this network to create smart transactions or contracts, without having to get permission from anywhere. Of course, if one wants, one can create private platforms on the Ethereum network, but the Ethereum blockchain itself is transparent, free and public.

  • Ethereum is also based on proof of work (extraction)

Like Bitcoin, Ethereum is based on mining. Individuals wishing to participate in the blockchain process must allocate the processing power of computer hardware to the network to participate in the mining operation, and the network will reward the extractors in return for this processing power, which will ultimately secure and verify the transactions. he does.

However, according to a pre-defined program and in a project called “Ethereum 2.0” (ETH 2.0), this network is supposed to be more scalable (faster and cheaper transactions), instead of the Proof Of Work algorithm from the stock proof algorithm ( Proof Of Stake). The exact time of implementation of this update is not known, but Ethereum mining will continue at least until the end of 2020.

In the stock proof method, individuals must purchase ether and allocate it to the network in a wallet to participate in transaction validation and block creation. In this way, they can participate in transaction verification work and receive new digital currency (ether) units. Participants charge a fee for network transactions. According to this approach, you no longer need to buy expensive hardware to participate in the network.

Phase 0 of Ethereum 2.0 will be implemented in 2020. Ethereum stock proofing will be activated in this phase, but mining will continue. In Phase One, the Ethereum China blockchain is set to fully demonstrate small stocks and end mining, but as we said, the timing of Phase One is not yet clear. The following is an overview of Ethereum’s future.

  • Ethereum has its own digital equivalent

Ethereum Ether is the internal digital currency of the Ethereum Ether network that can be exchanged for other currencies and assets. Ether ownership is tracked just like Bitcoin (BTC) ownership on the Chinese blockchain. Ether is also called “Ethereum Network Fuel” because its main use is the fee and motivation to participate in the network.

Ethereum and Bitcoin differences

  • Ethereum transactions are faster

In Bitcoin, on average, blocks containing transactions are created every 10 minutes, but in Ethereum this time is only 14 seconds. Of course, the size of the block is also important in discussing the speed of transactions, which is limited to 1 MB in Bitcoin. Looking at block time and block size, it can be said that Bitcoin currently performs a maximum of 7 transactions per second, but Ethereum can process up to 16 transactions per second. As promised by Ethereum Development Team, this number could reach hundreds of transactions in future updates.

Ethereum can easily execute smart contracts

Bitcoin can also be used to build smart contracts, but the network language of the script is very rudimentary and makes it difficult for developers. On Ethereum, programming code can be implemented much faster and easier. Ethereum smart contracts are so-called “complete Turing”; That is, they can perform any calculations and operations that are needed.

  • Ethereum can easily execute smart contracts

Bitcoin can also be used to build smart contracts, but the network language of the script is very rudimentary and makes it difficult for developers. On Ethereum , programming code can be implemented much faster and easier. Ethereum smart contracts are so-called “complete Turing”; That is, they can perform any calculations and operations that are needed.

  • The number of ether units will be unlimited

One of the main differences between Bitcoin and Ethereum is the number of units (supply) of the two. Bitcoin has supply restrictions, but unlimited ether will be available.

According to the Bitcoin protocol, only 21 million units of this digital currency are extracted. Currently, bitcoin miners receive a reward of 6.25 bitcoins per 10 minutes from the bitcoin network, which is called a “block reward”. The Bitcoin block reward is halved every four years during an event called “Hawing”, and for this reason, the extraction of all bitcoins will take until 2140. After that, miners will only earn money with transaction fees.

As for Ethereum, there are no restrictions, and at the time of writing, more than 112 million units of ether have been extracted. Of course, this does not mean rampant inflation in Ethereum , but proponents of the project believe that a little inflation is needed to have a perfect monetary system. Ethereum block reward is currently 2 ether units and therefore an average of 2 ethers are extracted every 14 seconds and according to these criteria we can say that the annual inflation of Ethereum is currently about 4%. In the Ethereum 2.0 update, inflation is expected to be greatly reduced to the minimum required to motivate network participants.

What is Ethereum Smart Contract?


A smart contract is a code (software) that runs on a blockchain. This software executes a series of commands automatically if a predetermined situation occurs. Once a contract is signed on a free China block such as Ethereum , no one can prevent it from being implemented, and in fact the contract has an enforcement guarantee.

A normal contract is an agreement between two or more people that commits them to something in the future. For example, X undertakes to pay Y a monthly fee for using the house for one year, which is called a lease or “lease”. As another example, A Company guarantees that in exchange for a sum of money, it will pay for possible damages to B car in future accidents, which is called an insurance contract or “insurance policy”.

What makes the difference between a regular contract and a smart contract is that in smart contracts, computer code solves the problem of the need for trust. As we have said, once a smart contract is executed on a free blockchain like Ethereum , it can no longer be stopped and no one can stop it. With smart contracts, you can build programs and projects that continue to work without any intermediaries and disabling, so that even the smart contract developer himself can not change the smart contract code registered in the blockchain.

Ethereum Smart Contracts can be used in the areas of financial transactions, record keeping, property ownership, collateral, insurance, scientific research, medicine, elections, product development, supply chain, and in all areas where we want to minimize the need for trust. Today, developers can use smart contracts to build their own projects using the Ethereum China block and even create a digital currency (token) for it, without the need to create a new China block.

It should be noted that at the present time, smart contracts are struggling with a lot of problems and still can not be used as they should be in many areas. The most important current problems of smart contracts are the following:

  • Legal and governmental problems: At present, governments do not recognize smart contracts, and for example, owning a home with digital currency and tokens has not yet been legally accepted.
  • Human error: Although smart contracts have a performance guarantee, the contract cannot detect whether a code is malicious or not, and executes it without coma. Therefore, if there is a bug or critical problem in the contract code, the contract will not be executed according to the wishes of the parties.
  • Implementation Fees: Flawless smart contracts need to be written by skilled programmers, and there is still no proper service that even ordinary users can sign at a low cost.

Many fraudulent schemes, including Doubleway, Eco Smart, Bank of Thrones, and others, are trying to empty the pockets of ignorant people by abusing the name of smart contracts and the promise of astronomical profits. Remember that a smart contract is a fundamental innovation and, like a content-free website, is completely useless if there is no economic activity in the smart contract.

How does Ethereum work?

The exact description of Ethereum‘s work is not included in this article, and of course you do not need to know exactly how this network works to work with Ethereum, just as you do not need to be familiar with the Internet infrastructure to work with the Internet. However, in the following, we will briefly review how this network works without technical details.

  • Blockchain and nodes

The Ethereum network consists of thousands of computers around the world that maintain a digital office (blockchain). Transaction information is written on this digital ledger and each computer has a copy of it. These nodes are connected to each other and check every transaction sent to the Ethereum network to make sure it is valid. The distribution of these nodes means that the network does not have a central point of penetration, that is, the output or error of a node does not cause a problem to the network.

  • Mining

To prevent fraud, Chinese blockchain data, and system attacks, a decentralized solution is needed so that a saboteur can not proceed without the permission of the majority.

Mining, scientifically known as Proof Of Work, is one of the most common methods for consensus building and security of Chinese blockchain networks. According to this algorithm, the process of creating blocks is competitive, and anyone who wants to participate in creating blocks containing transactions must solve a complex mathematical equation with the processing power of computer hardware. Whoever gets the answer sooner will be the winner of this competition and will receive a reward after creating the block. This reward in the Ethereum network is Ether digital currency. Miners also receive transaction fees. Currently, the extraction bonus for each block is 2 units of ether, which is given to the miners approximately every 14 seconds.

Therefore, miners (or mining nodes) allocate a large amount of processing power to the network, which is equal to the power of several supercomputers. In this case, if someone wants to attack the network or change the blockchain, he has to have the processing power of more than half of the miners, which has no economic justification for large networks such as Ethereum. In other words, in addition to the fact that it is very difficult to provide such processing power, if someone has this processing power, he can extract it himself instead of attacking the ether network and get a lot of rewards.

As the number of miners increases, so does the security of the network, and thus, trust will increase.

Therefore, do not forget that in order to make any changes to the Ethereum network, the participants must agree, and accordingly, any sabotage or attempt to change the recorded information will fail.

In the Ethereum network, new blocks are set to be created every 14 seconds. Now, for example, a powerful miner may enter the network and be able to find the answer to the block equation in 5 seconds. In this case, the network complicates the mathematical equation, which is called the “extraction difficulty” increase. Even if the number of miners decreases, the grid reduces the extraction difficulty so that the solution of the equation is found in the same 14 seconds on average.

Because we also deal with computer code in Ethereum, Ethereum intelligent contracts are first written in a high-level language (a language that human beings can understand) such as solidity, and then converted to bytecode on the network. Eventually, these codes are executed in a virtual space called the Ethereum Virtual Machine. Each computer connected to the Ethereum network executes the smart contract inside its virtual machine. With a virtual machine, any kind of processing is feasible, and the Ethereum network itself will not be harmed by malicious code.


Ether, like Bitcoin (BTC), is a digital currency with which value can be easily transferred. However, the purpose of ether is slightly different from bitcoin. This digital currency was created to pay the costs and as an incentive for the participants to continue the activity of Ethereum. If ether was not a key asset, who would be willing to act as a miner or contributor to the network? That is why ether is also called “Ethereum network fuel”. If Bitcoin is “digital gold”, ether is “digital oil”.

Using Ethereum network services and creating a program on it requires a fee, and this fee must be paid in ether. The ethers paid for the fee are awarded to miners who maintain network security.

Unlike Bitcoin, which is limited to 21 million units, ether production is currently unrestricted. At the time of writing, 112 million units of ether have been extracted. Of course, although the number of ether units is unlimited, the production of new units is not very fast and inflation is about 4% per year. The Ethereum 2.0 update is to be available only to the extent required by the Ether network.

Ether, like bitcoin, is traded in digital currency exchanges and its prices fluctuate constantly. This digital currency is stored and transferred on wallets. Read more about ether price history, wallets and how to buy this digital currency.

What is GAS?

We said that a fee must be paid for each transaction in the Ethereum network. Gas (fuel) is the same as the Ethereum network fee that is received as ether from the user.

Gas can be considered like gasoline in the real world. Gasoline is the fuel of the car, and if you want your gasoline car to move, you have to buy gasoline (gas) for your car by paying money (ether). In the Ethereum network, the cost you pay for gas is given to the Ethereum miners.

In the case of gas, we are dealing with two concepts:

  • Gas limit
  • Gas price

To complete the transaction, the user must specify a limit. Gas limit is the amount of fuel that the user is willing to pay to perform an operation on the network, and when we talk about gas alone, it means the same gas limit.

You can think of the limit as the amount of gasoline you pour into your car to reach a destination. For example, if you need 100 liters of gasoline to reach Y from X , if you pour 50 liters of gasoline, you will not reach your destination. If the limit is set below a certain limit, the operation will not be performed in the network. For a typical Ethereum transaction, the limit must be at least 21,000, but performing additional operations requires a different limit. If the limit gas specified by the user is not enough, the operation will not be performed, but if additional limit gas is entered, the rest will be returned to the user.

Gas price is also the amount of cost that you have to pay for each gas limit. Gas is paid for with ether, but because this figure is so low, it is displayed with the “Wei” unit. Each 1 Wei is equal to 0.00000000000000000001 Ether. The Ethereum network leaves everyone free to set as much as they like the cost of Gas or Gas Price, but if your Gas Price is too low, the miners will not approve your transaction and prefer to approve transactions with higher fees. . Therefore, the amount of gas price to perform the operation can vary depending on the network congestion or solitude. At the moment, the average gas price suitable for transaction confirmation is 20 Gwei (or 0.000000002 ETH), but sometimes this figure increases dramatically as the network becomes congested.

So the Ethereum network fee is equal to the price of gas multiplied by the price of gas.

ETH Fee = Gas limit × Gas Price

For example, if you want to make a regular transaction, you must specify a limit of 21,000 gasses, and if the Ethereum network is empty, you can consider the gaseous price to be 20 Gwei (each Gwei equals 100,000,000 Wei). So, your transaction fee is 21,000 times 20, which is equal to 420,000 Gwei or 0.00042 ether. A little more gas is needed to transfer the tokens.

If you are a little confused by these concepts, do not worry, because authentic Ethereum wallets offer a reasonable fee for the convenience of their users so that there is no need to calculate a fee.

ERC-20 token


On the Ethereum network, anyone can create a special digital currency or token for their various projects. Before Ethereum, developers had to build an independent China blockchain to create any digital currency. The ERC-20 standard is a list of rules that must be considered for a token to be built on the Ethereum ecosystem.

Various projects operating on the Ethereum network can create their own tokens with the desired name and symbol using the ERC-20 feature. Everyone today can make their own token for a few dollars, but this token has no value because it is not intended to be used. These tokens only become valuable when they are used and someone is willing to buy the token to receive services.

The blockchain project development team can also build an Ethereum token to raise capital on the Chinese blockchain and pre-sell it at initial public offering (ICO) before launching their independent blockchain. Then, when they build their main network and blockchain, they transfer the Ethereum tokens to their blockchain. One of the most prominent examples is the Theron project. The project is now a competitor to Ethereum, but before launching its core network, it introduced TRX tokens to the Ethereum blockchain and transferred them to Theron after becoming independent.

Ethereum tokens (ERC-20) can be stored and transferred to the same Ethereum addresses and do not require a separate wallet to store them. Theoretically, all Ethereum-based tokens can be stored on one Ethereum address.



The history of the Ethereum can be summarized as follows:

  • November 2013: Vitalik Butrin publishes Ethereum Idea (White Paper).
  • January 2014: The beginning of Ethereum development is officially announced. The main development team of Ethereum was Vitalik Butrin, Gwyn Wood, Mihai Alice, Anthony Di Lorio and Charles Haskinson. Gwynwood and Haskinson later left the team due to a dispute and launched Polkadat and Cardano, respectively.
  • August 2014: Ethereum raised $ 18.4 million in an initial public offering.
  • May 2015: Ethereum Trial Network, called “Olympic”, is launched.
  • July 30, 2015: The first version of Ethereum called “Frontier” is released. This day is considered the birthday of the Ethereum.
  • March 14, 2016: A new Ethereum update called “Homestead” is released. This update fixed many Frontier issues.
  • July 2016: A DAO hack occurs in which $ 50 million worth of ether is stolen. The Ethereum community sought a return on investment, but many opposed it, calling it against the unchanging nature of the Chinese bloc. This split the Ethereum china block and gave birth to the classic Ethereum.
  • August 25, 2016: Following the fork, a new Ethereum was created and the previous Ethereum was named the classic Ethereum.
  • October 16, 2017: Byzantium Hard Fork Implemented from Metropolis Update.
  • February 28, 2019: Constantinople Hard Fork Implemented by Metropolis Update.

Start of Ethereum project

Vitalik Butrin, a 26-year-old Russian-Canadian, released the White Paper Ethereum in 2013, shortly after he became acquainted with Bitcoin when he was only 19 years old. In this white paper he presented the idea of ​​”decentralizing everything”; Something that was not possible before Bitcoin and the Chinese blockchain.

Vitalik soon shared the idea with major developers such as Gwynwood and Charles Haskinson, and Ethereum development work officially began in 2014. In the same year, the project development team was able to raise the capital needed for development by pre-selling ether tokens to investors. In this so-called “initial coin offering” (ICO), investors received 2,000 ether units per bitcoin. Eventually, the Ethereum team was able to raise about 31,000 bitcoins, valued at about $ 18.4 million at the time.

Dispute; The Origin of Classic Ethereum

Ethereum was officially launched in mid-2015, and by early 2016, development plans were well under way. But suddenly, on July 17, 2016, a hacker managed to steal about 3.6 million units of ether, worth more than 50 times the value of time, using a bug in the code of one of the programs running on Ethereum called “DAO”. It was $ 1 million and accounted for 14% of the total ethers in circulation.

Note that Ethereum itself was not hacked, only programs on this network were attacked. However, due to the newness of Ethereum and the high amount of the stolen money, the Ethereum team eventually decided to return the money with a hard fork. Hard fork means extensive upgrades in the China blockchain.

This caused severe divisions in Ethereum society. According to the Hard Fork group, “code is the law” and the Chinese block should not be changed to return transactions. They argued that this called into question the nature of decentralization. For this reason, as a result of the hard fork, many people decided to continue working on the previous version, and for this reason, the previous Ethereum was called the classic Ethereum, and each went its own way.

After a controversial hard fork, Ethereum returned to development and successfully completed the Metropolis upgrade in 2019. This is the last step in updating the main Ethereum roadmap.

The future of the Ethereum; Ethereum 2.0


Serenity, the name of promoting the Ethereum, which in 2019 changed its name to “Ethereum 2.0» (ETH 2.0) changed. This major update has three phases; Phase zero, phase one and phase two.

The implementation of phase zero is planned for 2020, but the exact time of implementation of the next phases is not known. The implementation of phase one and phase two is expected to take a maximum of five years. With this update, Ethereum will eventually abandon its proof of mining algorithm and use stock proof. Also, the scalability of this network (speed and transaction fees) will be greatly increased.

As explained above, in stock proofs, creditors are required to purchase ether and approve it to the network to verify transactions and build blocks, and then the network rewards each creditor with assets. Ethereum stock proof profits are expected to be between 4 and 10 percent per annum. In this way, people who want to invest long-term in ether can also benefit from stock proofs.

Of course, the complete abandonment of mining takes place in phase one, the exact date of implementation of which is unknown. Therefore, it can be said that Ethereum extraction will continue at least until the end of 2020.

To read more about Ethereum 2.0, you can read the article “What is Ethereum 2.0?” See. Also, by following the “Ethereum 2” tag, you will be informed of the latest news of this update.

Ether price

Why is ether worth it? The answer is simple: for the same reason that gasoline is worth it. As has been pointed out many times in this article, ether is the fuel of the Ethereum network and network validators (miners) receive their reward with ether. Also, for every activity and transaction on the Ethereum, we have to pay the network fee with ether. Of course, from a macro perspective, something becomes valuable when it is accepted by valuable people, and like any other asset, ether is no exception.

So ether can be an investment option. Obviously, the more powerful Ethereum becomes and the more trust it has in this network, the theoretically the price of Ethereum will increase. On the other hand, when the Ethereum network operates poorly and fails to meet its roadmap goals, ether prices will decline. Of course, in the case of ether prices and all digital currencies, general market trends and foreign events are also involved (such as legislative news in this area).

In 2014, the Ethereum Foundation’s fundraising program sold about 7 million units of ether at a price of approximately $ 0.3 per unit. At the time of this update, the price of each ether is about $ 330, which means that early Ethereum investors will make more than 100,000 percent profit if they still have assets.

Ether price history can be divided into two parts; Before January 2018 and after January 2018.

Until January 2018, the price trend of Ethereum (except at times) was very high. Ether started 2017 at $ 8 and peaked at $ 1,400 in January 2018, a little over a year from now. A cursory glance reveals that Ethereum has seen a price increase of about 17,000 percent this year.

After reaching the peak price on January 13, 2018, everything changed for Ether. This digital currency lost more than 92% of its value in less than a year with the terrible fall of freedom, and for a long time was unable to reach the level of $ 300. Of course, in 2018 and 2019, the entire digital currency market crashed, but for Ethereum, which many thought would leave bitcoin behind, it was more tangible. Ethereum prices revived slightly in 2020, but are still miles away from their peak.




To store ether and Ethereum-based tokens, you need software or hardware called a wallet. A wallet can be thought of as a bank account used to store, receive and send money.

Ethereum software wallets are free and can be easily installed on mobile phones (Android and iOS) or personal computers (Windows, Linux and Mac). Some wallets are also web-based and can be accessed through Internet browsers (such as Chrome). In contrast, more secure hardware wallets are physically available and must be purchased from reputable stores.

There are dozens of wallets with different names for Ethereum, so if you are an Ethereum investor or investor in Ethereum-based tokens, finding a wallet is not difficult for you.

Credit is generally the most important criterion for choosing a wallet. If the wallet has a low number of installations, is not very satisfied with its performance and is not very well known among activists, it should not be among your options.

Each Ethereum wallet has one or more unique addresses. The wallet address is similar to the bank account number you can use to receive money. Example of an Ethereum address

s: 0x76917CD8F0c6C51F5461fe96ECE2bE9468540170″

An Ethereum address can be used for ether and all Ethereum-based tokens (ERC-20). Chain link, for example, is an Ethereum-based token. Therefore, an Ethereum address can also be used to store this token.

Do not forget that in the world of blockchain and digital currencies, everyone’s responsibility is their own. Therefore, it is necessary to make a backup of your wallet so that you can recover your money if the wallet is deleted, the password is forgotten or the device on which the wallet is installed is damaged. So far, access to millions of dollars of capital has been lost simply because of the ease of backup.

Wallets often show the user a set of 12 or 24 English words that you should write down in a safe place. In this way, the user with those words can easily access their assets in any other wallet. In some wallets, the private key is provided directly to the user, which is a text string of letters and numbers. Having a private key means owning an asset. Some other wallets also provide their users with a backup file that is encrypted using a password entered by the user.

Buy Ethereum

To buy Decentralize everything, it is best to visit a digital currency exchange site. Users living in Iran usually use one of the following two methods to buy ether from an online exchange:
You can easily find the websites that sell Decentralize everything by searching for the phrase “buy Decentralize everything” on Google, and after registering with them, buy Decentralize everything directly with your bank card.

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