Ethereum is an open-source, public, blockchain-based distributed computing platform and operating system featuring smart contract (scripting) functionality.
- Woah! Did you get that? Well, we neither. Let us try again:
- Ether is a cryptocurrency whose blockchain is generated by the Ethereum platform.
- Ether can be transferred between accounts and used to compensate participant mining nodes for computations performed.
- Ethereum supports a modified version of Nakamoto consensus via transaction based state transitions.
- Ethereum provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes.
- "Gas", an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.
- Still a bit hazy? Hmm.. do you know Bitcoin?
Ethereum is something similar to Bitcoin.
💡 For the curious: What is Ethereum? by Coindesk
What about Zcash? Zcash is a crytocurrency similar to Ethereum with some differences.
- A decentralized and open-source cryptocurrency that provides strong privacy protections
- Shielded transactions hide the sender, recipient, and value on the blockchain
- If Bitcoin is like http for money, Zcash is https—a secure transport layer
💡 For the curious: What is Zcash? by ZECC (Zcash team)