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What is Ethereum? A Beginner's Explanation in Plain English

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By 99Bitcoins
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Ethereum was proposed in 2013 and brought to life in 2014 by Vitalik Buterin. Unlike the Bitcoin network which was designed for Bitcoin transactions only, Ethereum is a DIY platform for decentralized apps (or Dapps) that uses smart contracts. ‘Ether’ is Ethereum network’s currency and it is used for running Dapps.

0:34 – Quick Bitcoin recap
1:27 – Blockchain technology in a nutshell
3:30 – What is Ethereum?
5:43 – How Ethereum works
8:14 – The DAO and the Ethereum fork
9:47 – Ethereum as a currency
10:39 – Ethereum’s ICO
11:09 – Conclusion

Special thanks to Jimmy Song who’s post about Smart Contracts helped us a lot in creating this video:
https://medium.com/@jimmysong/the-truth-about-smart-contracts-ae825271811f

For the complete text guide visit:
http://bit.ly/2RAjY4j

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About The Author

99Bitcoins Looking to get into Bitcoin and don’t know where to start? You’ve come to the right place. At 99Bitcoins we translate Bitcoin to plain English. Our videos are the most comprehensive, straightforward, and easy to understand guides you’ll find anywhere on the web. But don’t take my word for it, check them out for yourself. If you have questions about Bitcoin or any of the other major cryptocurrencies out there, then you’ll likely find the answers here. Topics like Bitcoin wallets, Bitcoin mining, how to avoid fraud, and objective information to consider so you can determine whether you should even get involved with Bitcoin and cryptocurrencies. But that’s not all, we also highlight the most important news in the cryptocurrency space through our weekly news update called This Week in Bitcoin. So if you’re ready to be amazed by how easy it is to understand Bitcoin, hit the subscribe button and let’s get started.

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