What is Ethereum and how does it work?

What is Ethereum? Ethereum is a platform for exchanging digital currency that has no physical counterpart. The currency unit on the Ethereum platform is called an ether (ETH). Ethereum operates on the blockchain, which is a decentralized ledger that records all crypto transactions. It’s helpful to imagine the blockchain as a never-ending receipt.

What is a burning Ethereum wallet?

Burning refers to sending crypto to a wallet that has no keys, which takes them out of circulation. Ethereum owners use wallets to store their ether. A wallet is a digital interface that lets you access your ether stored on the blockchain.

How does consensus work in Ethereum?

Consensus is reached using an algorithm commonly called a consensus mechanism. Ethereum uses the proof-of-stake algorithm, where a network of participants called validators create new blocks and work together to verify the information they contain.

How can I invest in Ethereum?

If you want to invest in Ethereum, you can buy ether on a cryptocurrency exchange. You may also be able to use ether to buy other products or services, similar to how you can use bitcoins and other currencies. Ether could also potentially act as a "store of value," similar to how you may want to buy and hold gold.