ETHEREUM—Second but Never in the Shadows

Many think of Ethereum as a form of cryptocurrency via Ether. And they are right. But speaking of cryptocurrency, Bitcoin is the number one that comes into mind. Ethereum is only second, some may say arguably.

But there's more to Ethereum than meets the eye. Ethereum is actually the blockchain technology that powers the cryptocurrency Ether. Now, both terms are used interchangeably to refer to virtual money. Wikipedia defines it as an open source, blockchain-based distributed computing platform and operating system that features smart contract or scripting functionality. This makes the difference. Ethereum is aimed to the specific use of this smart contract functionality.

Smart contracts allow parties to write agreements in code into a blockchain, sealing and securing it with the power of blockchain's impenetrable system. Now, more and more companies and businesses are trusting smart contracts. DApps or decentralised apps are also built onto the Ethereum blockchain, with ether as a required cryptocurrency.