The network is built on a database that is hosted on many computers around the world. This is because Ethereum apps are decentralized. The difference between Ethereum and current web application solutions is that these apps (and the currency) are open to everyone, free from censorship and much more secure than existing solutions. On the Ethereum network, the fee for a similar storage service is paid in Ether, instead of US Dollars or British Pounds. Dropbox hosts your files, in exchange for a monthly hosting fee. So it would be like when Dropbox builds an app on top of macOS. The goal of Ethereum is to allow people to build decentralized applications on top of the Ethereum platform. What is Ethereum?Įthereum is basically a software platform, like Microsoft Windows or macOS. Therefore, in order to understand the value of Ether and what can potentially make the price go up and down, we need to have a basic understanding of how it works. It can pay for software services on the network, in addition to being a real-world currency.

So you're not actually learning how to trade Ethereum, you are learning to trade Ether. In other words, Ether is the “money” that used for payment on the Ethereum Network.

RELATED: See the NEW Forex backtesting software I've been waiting forĮther is the crypto-fuel for the Ethereum Network.

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