What is ethereum used for?


Since every cryptocurrencies are tied with certain benefits, what is ethereum used for?

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Proton 3 months 1 Answer 57 views 0

Answer ( 1 )

  1. Ether is like a vehicle for moving around on the Ethereum platform and is mostly sought by developers looking to develop and run applications inside Ethereum. Ether is used broadly for two purposes: it is traded as a digital currency exchange like other Cryptocurrencies and it is used inside Ethereum to run applications and even to monetize work.

    According to Ethereum, it can be used to “codify, decentralize, secure, and trade just about anything.” One of the big projects around Ethereum is Microsoft’s partnership with ConsenSys which offers “Ethereum Blockchain as a Service (EBaaS) on Microsoft Azure so Enterprise clients and developers can have a single click cloud-based blockchain developer environment.”

    Ethereum is proposed to utilize blockchain technology not only for maintaining a decentralized payment network but also for storing computer code

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