Blockchain by Joseph J. Bambara

Author:Joseph J. Bambara
Language: eng
Format: epub
Publisher: McGraw-Hill Education
Published: 2018-03-14T04:00:00+00:00

Ether the Cryptocurrency

Ether (ETH) is the name of the cryptocurrency that fuels the distributed application Ethereum platform. It is used as the form of payment made by the clients of the network to the actual machines that execute the requested tasks. As we mentioned earlier, ether is the financial incentive that pushes and fosters decentralization and therefore attracts miners. Additional miners make the platform more secure and viable. Ether is also the incentive ensuring that quality applications are created, because inefficient code will usually cost more, and that the network remains highly available and functional, because owners are compensated for their contributed resources (computing power and storage).

As with a fiat currency, ether comes in size denominations that have their own name, shown in Table 5-2.

TABLE 5-2 Ether Denominations

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.