[Japanese Translation] Ethereum Beginner's Guide ~ This is what you need to know about Ethereum

Even though I know bit by bit about Bitcoin, there are still many people around me who have barely heard of anything else.

The interest is increasing day by dayEthereumand what it is, there was a beginner-friendly explanatory English article, so I translated it into Japanese.

Ethereum Beginner's Guide

What is Ethereum

According to Ethereum's website, “Ethereum is a distributed platform that manages smart contracts.”

This provides a suitable overview, but in my experience, when I first explain Ethereum to friends, family, or others, it helps to compare Ethereum with Bitcoin to improve understanding. Many people have at least heard of Bitcoin. This beginner guide aims to help Ethereum beginners understand the more advanced differences between the two.

Comparison

In simple terms, Bitcoin can be described as digital money. Bitcoin appeared eight years ago and has been used for peer-to-peer transfer of funds. Bitcoin has generally been used as a store of value, playing an important role as the public comes to understand the concept of decentralized digital currencies.

Ethereum, unlike Bitcoin,also includes the functionality of smart contracts, a feature described as a digital currency capable of advanced programming.

Imagine that funds are only transferred automatically between individuals when certain conditions are met. For example, suppose one person wants to buy a house from another. Traditionally, this sale involves many third parties such as lawyers and escrow agents who slow down the process and drive up costs.

With Ethereum, once the transaction is confirmed, the title to the house can be automatically transferred to the buyer by the code itself, without a third party intermediary, and the payment can be sent to the seller.