What is ether?
Ether is the native currnecy of Ethereum Blockchain. The Ethereum blockchain record the transfer and ensure the finality of transaction.
Ether is also used to pay the fee that allow smart contract and Dapps to run on Ethereum network.What is gas?
On Ethereum all transactions and smart contract execution require a small fee to be paid.
In technical terms, Gas refers to unit of measure on the amount of computational effort require to execute an operation.
The more complex the operation is, the more gas that is needed to fulfill that operation.
The price of gas can fluctate from time to time depending on network demand.
- The two popular protocols of Ethereum :- ERC-20 and ERC-721.
ERC-20 are fungible(replacable), meaning they are interchangable and of some value.
ERC-721 are non fungible(non replacable), meaning they are unique and non interchangable.
- The future of Ethereum
ETH 2.0 is a massive undertaking that utilizes sharding techniques. Once the update is complete, the network will become more scalable, solving the high gas issue.
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