Ether network – level 2

Ether network

24-08-2021 07:00

Ether is a technology which people use to send cryptocurrency and to power applications, and they pay a small fee for it.

Ether is a blockchain network, which means that it stores all the data in blocks and then chains them together. Such technology is very safe because nobody can steal or censor the data. Ether uses Ethereum, the second largest cryptocurrency after Bitcoin.

Ethereum 2.0 is an upgraded version of Ether, and it has a bigger capacity. Experts expect that it will lower fees and make transactions faster. Users can do business directly with each other, and they do not need to use banks.

Difficult words: cryptocurrency (a digital currency), chain (to connect), censor (to remove parts which you do not want somebody to see or hear from writing, audio, photos, or video).

You can watch the original video in the Level 3 section.

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