Ethereum

Taxonomy

Ethereum is the second most popular cryptoasset by market cap. Ethereum was one of the first cryptoassets to significantly improve upon the Bitcoin protocol and this has lead to its position of popularity. Etheruem improves upon Bitcoin by adding functionality to its blockchain beyond the ability to send and receive basic transactions. The Ethereum network functions as a public, network-based, worldwide computer for executing smart contracts in a decentralized environment. For the creation of these smart contracts, Ethereum has its own programming language and virtual machine. Ether, Ethereum’s cryptocurrency is used to pay for usage of the network and the computations it performs. Because anyone can publish a smart contract to the Ethereum network, it has become the world’s most popular smart contract platform and is the host to a number of unique digital tokens.