What exactly is Web3? 4 Ethereum and coins

By Long ·  

Unlike Bitcoin, Ethereum has a complete programming language inside it, so programmers can write code and make apps on Ethereum.

Bitcoin is a digital gold. It’s a store of value & a medium of exchange. Ethereum is the infrastructure of a digital city. It was imagined as a foundation for businesses and applications to be built atop.

You can use Solidity Language to code smart contracts and then build decentralized apps (dapps) on top of the ethereum blockchain. There are other (and faster) chains that you can develop on — like polygon, BSC.

Think of the blockchain as a big backend database which runs all the time and can store things for you!

For the coins, we see coins everywhere — shiba (SHIB) inu and dogecoin (DOGE) are going to the moon according to some people. Unfortunately, they don’t have any logic behind those products! They are just meme coins.

There is a lot of thought behind real projects like ethereum and a complete structure of ‘tokenomics’ is defined before launching the product.

There are other stablecoins which you can buy to earn passive income through staking, yield farming, lending, etc. Examples are DAI, USDT, etc.

To be continued

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