What is Ethereum Cryptocurrency & How Ethereum Works| Explained Simply


Hello and welcome back to our cryptocurrency
videos and this one I’m taking a look at a theorem. And when you talk about a theorem you’re talking
about the system it’s actually either that you’re talking about for the cryptocurrency
itself but you’ll hear it quite often referred to a theorem referred to as a theory. So it’s a bit of an interchangeable name at
this point. It is a system where you can take different
nodes around the Internet and build applications. So you’re seeing processing power from various
Peters around the world or you can move funds across this system which of course is where
we come in. Now looking at either it is a token on the
theory in the system that allows people to have a trust list contract meaning that one
won’t give to the other until a specific function or application in this case is finished and
then it releases the funds and the funds can be banked by just about anything. And it is of course on a block chain so that
being the case you get a smart wallet like you do with other cryptocurrency. And it’s interesting because you can actually
use this to make your own central bank really you can issue money between customers or friends
or whenever a tradable token with a fixed supply just as making your own Bitcoin in
you actually have seen other crypto currencies built on top of this system. So it’s interesting that you can do that on
a trust list crowd sale so much like a contact that you can crowdfund a product to be pre
sold and then that way they don’t have to worry about you running off with the money
or you delivering the product then them running off with the money it can be used for voting
and things like that as well. So it’s a very interesting system it can be
used for a lot of different things now either. And as you can see has been somewhat volatile
but reliable between two hundred and four hundred dollars for most of the year. It is a range bound market with wide swings
but it does look more like an asset than most crypto currencies do because although we have
fluctuations you can clearly see that it is a liquid markets. In fact the second largest cryptocurrency
behind bitcoin. So you don’t have major problems with flash
crashes. For the most part they do happen in the theory
and world. But it’s very rare. This was due to a hack of the D.A. the Denver
decentralized autonomous organization called the Dow. In June of 2016 was hacked and fifty million
dollars worth of ether had been claimed by somebody anonymously. Since then they’ve switched and there is a
theory M and the theory of classic their theorem classic is the fork of the original crypto. The theorem which is the one that you’ll see
most of the time is a forked version that really doesn’t have anything to do with it
anymore So with that being the case they have cleared up quite a bit of the security issues. And as you can see it is a widely traded instrument
can be traded in most cryptocurrency exchanges.

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