Ethereum cryptocurrency

What is Ethereum ?

Ethereum is not just another cryptocurrency and unlike other popular cryptocurrencies it was not developed only for peer to peer payment transfer. The Ethereum foundation explains Ethereum as “a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.”
Ethereum’s platform is built for greater flexibility and has enhanced functionality. It allows the users to program smart contracts and also develop their own cryptocurrencies based on top of Ethereum’s blockchain. While the most popular cryptocurrency Bitcoin is written in C and other cryptocurrencies are written in a particular programming language Ethereum is not programmed in one particular language but in Turing complete language which includes seven different types of languages.
Ethereum enables developers to build and deploy decentralized applications ( dApps ), Smart Contracts, Decentralized Autonomous Organizations (DAO), launching other cryptocurrencies / Tokens and many others.
Ethereum is not really a cryptocurrency but a computing platform. Exact description and explanation of all possibilities and function of Ethereum it is not easy and is not the subject of this article. If you want to know more details about Ethereum and everything related to it ( like DAO, Dapps, ICO, Solidity and a lot more ), you can starting with a blog on the website, which contains more detailed information for a more advanced users. However, if you are a beginner, stay with us and find all the information you need to get started with Ethereum.
What is Etherum

What is Ethereum Gas ?

On the Ethereum network, gas is a special unit that is used for paying transaction fees. Whenever you send funds in Ether, you also have to pay the fee – not to a third-party to process the transaction, but to the network.
To process your payments, network resources are used. Transaction fees come as a payment for using these resources.
The fee doesn’t depend on the amount of funds you send; It is affected by the current level of network overload and the complexity of each given transaction. Typically, ETH wallets calculate and display the fee right within the app.
Ethereum can process only 19 transactions per second at the maximum. So when too many people try to send ethers at once, the fees are calculated on an auction basis. The higher the fees you pay, the faster your transaction will be confirmed. To check how much the Ethereum network is currently overloaded and how much fees you need to pay, there is a tool called EthGasStation ( you can access the service at this link: ).
What is Ethereum Gas ?

What is an Ethereum ERC20 token ?

An ERC20 token is a blockchain-based asset with similar functionality to Ether, Bitcoin and other cryptocurrencies;
The major difference between ERC20 tokens and other cryptocurrencies is that ERC20 Tokens are created and hosted
on the Ethereum network ( blockchain ). ERC20 token can be sent, received, checked of its total supply, and checked
for the amount that is available on an individual address. This is analogous to sending and receiving Ether or Bitcoin
from a wallet, knowing the total amount of coins in circulation, and knowing a particular wallet’s balance of a coin.
ERC20 tokens are stored and sent using Ethereum addresses and transactions, and use Gas to cover transaction fees.
There are about 200,000 different ERC-20 tokens but the vast majority are completely illiquid. 
Only about 500 have a market capitalization of above $1 million.
Popular ERC20 Tokens, such as Binance Coin ( BNC), Tether USD ( USDT) and others with Large Cap are generally know.
There are still around 200,000 little-known ( or completely unknown ) ERC20 Tokens, from which we selected a few randomly ( well ... maybe also also based on interesting and original names ) with the description below:
Love is priceless; This Token - probably not anymore, but we can send it to a loved one.
Because we love and we are loved - could not pass by this Token indifferently.
Personally - we wish good luck and success for owner of this Token.
All details of the I LOVE YOU ( LOVE ) - ERC20 TOKEN are available e.g. on Etherscan.
When I saw this name in the list of ERC20 Tokens - I interested right away.
Attracted me mysterious and interesting name. Of course, a good name is not a measure of the value of a token ( ? ),
but with choosing from hundreds of thousands of little-known tokens - I can try choose and this method.
The owner has not attached any details, but maybe more information will be available in the future.
Some data of the IGNITARIUS ( IGS ) - ERC20 TOKEN are available e.g. on Etherscan.
... and many, many ( x about 200,000) others.
There are so many ERC20 tokens, that it's hard to find anything, if you do not know exactly, what you are looking for.
Anyone can create such token in a few minutes, but without a good idea - it will only short, virtual fun, clogging the already overloaded Ethereum network.
What is Ethereum ERC20 Tokens ?

Description of several, most popular Ethereum wallets

An Ethereum wallet is the first step to using or trading Ethereum. Just like a most of the cryptocurrency wallets, Ethereum wallet is simply an app, website, or device that manages Ether private keys for you. It allows you to receive, store and send Ether to others. You need to know, what are available Ethereum wallets and choose the one that suits you best.


MetaMask is an online crypto wallet that operates as an extension on  Firefox, Chrome, and Brave browsers. You can use it for managing, transferring, and receiving ETH and ERC-20 tokens. This wallet is present in 18 different languages which makes it accessible to many users. MetaMask allows to interact with Ethereum without downloading the entire blockchain.
MetaMask is an HD wallet, so you don’t need to worry about backing up each public/private key pair. Instead, rely on the single seed that it produces during the set-up. But remember, losing this seed would be akin to losing all the stored crypto funds. Also, one can encrypt its seed by setting-up a secure password. Doing so will ensure your private keys never go online and will always remain in the browser.
You can download MetaMask extension / wallet from the official website :
To ensure security, avoid downloading this software from unofficial sources.


Mist is known as the official Ethereum wallet, designed to offer secure storage of ETH and other ERC tokens available on the Ethereum blockchain. As it has been developed by the same team who created Ethereum, it is promised as one of the most secure desktop Ethereum wallets To use Mist Ethereum Wallet it’s necessary to synch with the Ethereum blockchain. Depending on your Internet connection and the speed of your computer, this can take several hours or days to complete. Generally, Mist is not convenient for beginners and for quick transactions.


MyEtherWallet, also known as the MEW, is one of the most popular Ethereum wallets among the crypto community.
Although you can easily create new wallets in your web browser with MEW, it’s not actually an online wallet. Even though you create the wallet through the web, all of your information and your funds are stored on your computer, not on the MEW servers. In addition to being accessible in a Web Browser, MEW is also compatible with GETH, Mist, MetaMask, Jaxx wallet, Trezor wallet, and Ledger Nano S hardware wallet. MyEtherWallet is a solution that is easy to use, completely free and offers a lot of flexibility for storing ether (ETH), tokens and other digital assets issued on the Ethereum platform.
You can download MyEtherWallet from the official website :
To ensure security, avoid downloading this software from unofficial sources.
List of Ethereum most popular Wallets

Some note and comments about Ethereum cryptocurrency

Ethereum is still a very young technology and it hasn't been without its problems. While the blockchain architecture underlying the Ethereum network is secure, not all of the applications built on top of it are. Faulty code can and has made applications vulnerable to hacking and malfunctions. In June 17, 2016, a hacker found a loophole in the coding that allowed him to drain funds from the DAO. In the first few hours of the attack, 3.6 million ETH were stolen, the equivalent of $70 million at the time. After the DAO hack, Ethereum's development team decided to resolve the situation with a hard fork, creating two separate networks and cryptocurrencies : 'Ethereum' (ETH) and 'Ethereum Classic' (ETC).  This controversial move divided the Ethereum community. Many investors and users have lost confidence in Ethereum also.
By virtue of sharing one’s public ethereum address, the amount of funds being held within that address is easily uncovered. Of course, a user could hold several cryptocurrency wallets with different amounts of ether held within them. However, disclosing the wallet address of one of them may jeopardize the identity of all wallets owned by a user especially if funds had previously been transferred between wallet addresses. For this you must remember, that Ethereum does not provide any privacy and it is completely transparent. However, this is not its disadvantage; Ethereum simply has not been created for anonymous transactions or protection of your privacy.
Some note and comments about Ethereum cryptocurrency