Introduction to Cryptocurrencies
Oct 17, 2024
Overview of Major Cryptocurrencies Like Bitcoin and Ethereum
Bitcoin: The first cryptocurrency, designed as a digital alternative to traditional currency. It uses PoW for transaction validation.
Ethereum: A decentralized platform that enables smart contracts and decentralized applications (dApps). It introduced the Ethereum Virtual Machine (EVM), a powerful virtual machine that executes smart contracts.
How to Acquire and Store Cryptocurrencies
Acquisition: Cryptocurrencies can be bought on exchanges (e.g., Coinbase, Binance), earned through mining or staking, or received as payments.
Storage: Cryptocurrencies are stored in digital wallets. Hot wallets are connected to the internet (e.g., mobile wallets, web wallets), while cold wallets are offline and more secure (e.g., hardware wallets, paper wallets).
The EVM is the runtime environment for smart contracts in Ethereum. It is a decentralized, Turing-complete virtual machine that processes transactions and runs code exactly as programmed. The EVM allows developers to create and deploy complex, programmable money and various dApps on the Ethereum blockchain.