Founded before 2014 by the co-founder of bitcoin magazine, and started about a year after, new blockchain-based technology has arrived and it came to be recognized as Ethereum. It is another platform that uses decentralized software and similarly has a unique cryptocurrency for its own system. Generally, it is kind of like bitcoin, like it also has its own system managed by blockchain and cryptocurrency for transection. But when we watch in-depth, it has totally a different algorithm.
Bitcoin has its own limit on only transactions, but on the other hand, Ethereum permits us to have Smart Contracts, which enable us to do more than just general cryptocurrency transfer. It is more likely a set of codes that transmits information thru blockchain. Ethereum is known as, do it by yourself management system or in short, the stage recognized as (Dapps) decentralized apps.
If anyone wants, he/she can create or join this distributed platform by learning Solidity, which is a programing language for Ethereum. Unlike bitcoin, it is an open-sourced software package, which allows users to do more within these unbreakable, without interference, free of downtime, and secure software systems.
According to this system, anything digitally can be traded without the interference of any central authority and this opens an enormous door for everyone on the internet. Like you can trade your digitally painted anything, videos, or Facebook status with cryptocurrency as NFTs. The cryptocurrency uses for every transaction is mainly known as Ether.
Whenever we get amazed by $.40 Ethereum turned into $4000, it is Ether, not Ethereum. Ether is the main currency that runs the system we call Ethereum. On the other hand, Ethereum is a software, platform, or system which is maintained by blockchain, or decentralized thousands of thousand computers and people, but Ether is what they are getting as a reward. When the Ethereum blockchain is being used, miners use their machines to validate information, for this they get a small token as a fuel reward. This reward of the Ethereum blockchain is called ether, and this is mainly the cryptocurrency that some of us refer to as Ethereum. The actual cryptocurrency that can be traded is ether but not the system we call Ethereum. This Ether can be traded with other currencies like money or digital goodies like NFTs, non-fungible tokens. So, whenever people want to buy Ethereum it means they actually want to purchase actual ether, but not the Ethereum.