Ethereum is this decentralized, open-source, and community-driven blockchain that is known for its smart-contracts functionality as well as its popularity. It even powers thousands of decentralized applications, and its main native cryptocurrency is known as ETH.

Again, to truly understand it, we’ll need to look back at its history. It was proposed all the way back in 2013 by Vitalik Buterin, and the development process began its crowd-funding process in 2014. The network went live on the 30th of July, 2015, and had 72 million coins (ETH) which were premined.

Ethereum is this open-source, distributed blockchain network that has the main goal of providing smart contract scripting functionality to the blockchain. As such, it has allowed developers to streamline, as well as build decentralized applications which function on the blockchain itself. To do this, it has nodes that store as well as maintain its blockchain.

GAS is the internal pricing fee mechanism that enables Ethereum to secure the quality of the network, and this works in the way through which every transaction that occurs in the Ethereum network is measured through its Gas usage.

Everything has a gas price associated with its execution. The gas limit is the amount of computational power the Ethereum network can use, and the longer the smart contract is, the higher the total gas limit becomes.

Pros: Fully Decentralized - Smart-Contract Functionality - Uncapped - High Level of Security

Cons: The Solidity programming language can be difficult - GAS fees - Issues with scaling

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