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One?","featured_image_id":11310,"status":"published","chapter_id":7,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/ico-vs-ido","featured_image":{"id":11310,"uuid":"315e8a2b-93a1-4870-be48-a2a09d801663","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/ico-vs-ido-featured-image.jpg","path":"crypto/storage/optimized/ico-vs-ido-featured-image.jpg","original_path":"crypto/storage/original/ico-vs-ido-featured-image.jpg","name":"ico-vs-ido-featured-image.jpg","original_name":"ico-vs-ido-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"64.39KB"},"youtube_video":null},{"slug":"what-is-an-airdrop","title":"What are Crypto Airdrops and How to Get 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Assets?","featured_image_id":6542,"status":"published","chapter_id":7,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-get-free-crypto","featured_image":{"id":6542,"uuid":"4fceb9ab-391e-4ef9-b00d-c871a49878a3","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-get-free-crypto.o.jpg","path":"crypto/storage/media/how-to-get-free-crypto.o.jpg","original_path":"crypto/storage/media/how-to-get-free-crypto.jpg","name":"how-to-get-free-crypto.o.jpg","original_name":"how-to-get-free-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"93.93KB"},"youtube_video":null},{"slug":"how-to-arbitrage-crypto","title":"What is Crypto Arbitrage: The Main 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Pulls?","featured_image_id":6555,"status":"published","chapter_id":7,"language":"en","order":10,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-avoid-rug-pulls-in-crypto","featured_image":{"id":6555,"uuid":"80cbed9d-3b4b-45d9-9a85-d2d8108c0f32","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","path":"crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","original_path":"crypto/storage/media/how-to-avoid-rug-pulls.jpg","name":"how-to-avoid-rug-pulls.o.jpg","original_name":"how-to-avoid-rug-pulls.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"111.99KB"},"youtube_video":null},{"slug":"how-to-avoid-crypto-taxes","title":"The Key Legal Techniques of Avoiding Crypto 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Tokens?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-track-new-crypto-coins","featured_image":null,"youtube_video":null},{"slug":"how-to-research-crypto","title":"Crypto Research Fundamentals & Social Signals: Your Daily Trading Strategy","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-research-crypto","featured_image":null,"youtube_video":null}]},{"id":9,"title":"Mining","slug":"mining","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-mining.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-mining-101.jpg","rating":80,"sections":[]},{"id":10,"title":"Crypto Terms","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/crypto-101-glossary.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-glossary-101.jpg","rating":100,"sections":["A","B","C","D","E","F","G","H","I","J","K","L","M","N","O","P","Q","R","S","T","U","V","W","X","Y","Z"]}],"nextSection":{"id":338,"original_id":null,"author_id":42,"translator_id":null,"title":"What is Ethereum Virtual Machine (EVM)?","slug":"what-is-ethereum-virtual-machine-evm","section":"E","keyword":"Ethereum Virtual Machine (EVM)","status":"published","definition":"a Turing-complete blockchain-based software that executes code exactly the way it was intended.","content":"<p><strong>Ethereum Virtual Machine (EVM)</strong> <strong>is a computation engine</strong> that functions as a decentralized computer with millions of projects to be executed. It acts as the virtual machine that drives the entire Ethereum operating system where task execution and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-smart-contract/">smart contracts</strong></a>&nbsp;happen.</p>\n<p>The EVM's purpose is to add a number of new processes to the blockchain so that users have fewer problems with the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-distributed-ledger/">distributed ledger</strong></a>. To ensure blockchain consensus, every Ethereum node runs on the EVM. <strong>The code inside the EVM is entirely isolated</strong>, which means it has no access to the network, file system, or any other processes.</p>\n<p><strong>Externally Owned Accounts (EOA) and</strong> <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-contract-account/">Contract Accounts</strong></a> are the two types of accounts that are recognized equally by the EVM. Account abstraction attempts to convert these two into a single account because EOAs and Contract Accounts are interchangeable and work pretty much the same. Contract accounts are maintained in the smart contracts&nbsp;while EOAs are managed by <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-private-key-secret-key/">private keys</strong></a>.</p>\n<p>The majority of the source code of smart contracts is written in the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-solidity/">Solidity programming language</strong></strong></a>. A contract written in the smart-contract coding is transformed into what is known as <strong>bytecode</strong>. After that, it is transformed into <strong>opcodes</strong> that EVM interprets and uses the operation codes to accomplish specific tasks.</p>\n<p>Thus, EVM is one of the biggest projects that run in the cryptocurrency world and it acts as a massive decentralized computer that executes various operations on the blockchain.</p>","level":"easy","meta_title":"What is Ethereum Virtual Machine (EVM)? Definition & Meaning | Crypto Wiki","meta_description":"Ethereum Virtual Machine (EVM) meaning: Ethereum Virtual Machine (EVM) - a Turing-complete blockchain-based software that executes code exactly the way it was intended.","meta_keywords":null,"language":"en","created_at":"2022-03-14T15:59:59.000000Z","updated_at":"2022-09-19T07:27:54.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-ethereum-virtual-machine-evm"},"prevSection":{"id":333,"original_id":null,"author_id":40,"translator_id":null,"title":"What is Exit Scam?","slug":"what-is-exit-scam","section":"E","keyword":"Exit Scam","status":"published","definition":"is a means of causing projects to go down or disappear after obtaining the investor's finances.","content":"<p>An exit scam is a method of making projects shut down or disappear after acquiring the investor's funds. This usually happens after or during the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-initial-coin-offering-ico/">ICO period. In other words, it is fraudulent activity by unscrupulous cryptocurrency promoters who vanish with investors&rsquo; money.</p>\n<p>To put things into perspective, <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-whale/">whales essentially attempt to boost the price, also advertising and promoting activities, only to <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-dump/">dump their coins later on. It is nearly impossible to foresee such an event until it takes place, similar to a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-black-swan-event/">black swan event</strong></a>. Exit scams occur more frequently.</p>\n<p>To fully understand the exit scam, you must be aware of the strategy. It is quite basic, starting from the project that launches a cryptocurrency platform employing <strong>a bright idea</strong>, then raises funds from investors.</p>\n<p>It runs for a reasonable amount of time and then disappears, which leaves the investors in a tight situation.</p>\n<h3>How to Stay Safe From Exit Scams?</h3>\n<p>People tend to believe popular YouTube channels that promote particular tokens. But what they don&rsquo;t know is that typically the tokens are promoted when the price has already gone up and that it is mandatory to investigate the fundamentals of the project.</p>\n<p>It might be a poorly executed duplicate of an existing solution with no solid foundations for future expansion. So, do your homework when it comes to initiatives with significant returns. Also, speaking of crypto <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-token/">tokens, make sure to use tracking platforms on a regular basis to receive the most up-to-date information and construction materials.</p>\n<p>You can also look for red flags in:&nbsp;</p>\n<ul>\n<li>Team Credibility</li>\n<li><strong>Documentation Standards</strong></li>\n<li>Extravagant Return Projections</li>\n<li>Heavily Promoted Offerings</li>\n<li>Non-Existent Working Model</li>\n</ul>\n<p><em>These factors might help to determine whether you are safe or not.</em></p>\n<h3>The History of Exist Scams in the World of Crypto</h3>\n<p>In November of 2017, an escrow-related cryptocurrency startup called Confido disappeared after collecting <strong>$375,000</strong> through its initial coin offering (ICO). In regards to that, the cryptocurrency's <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-market-capitalization-market-cap-mcap/">market cap</strong></a> decreased from approximately $6 million to <strong>$70,000,</strong> in a span of a week.</p>\n<p>There was a sale of Logan Paul's <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-non-fungible-token-nft/">NFTs, where three holders of the 3,000 NFTs that were to be sold had an opportunity to win a $400,000 Pokemon First Edition package. The NFTs first drew a lot of interest, propelling their value past $20,000.</p>\n<p>Nonetheless, the majority of them are still available on <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/goon/opensea/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong><strong>OpenSea</strong></strong></a> for around $1,000.</p>\n<h3>BitConnect Exit Scam</h3>\n<p>Bitconnect declared on January 16th, 2018, that it was closing its currency exchange and lending services due to a cease-and-desist order, filed by officials in Texas and North Carolina.</p>\n<p>Following that, the platform was operating a Ponzi scheme that compensated customers in the form of BCC, which dropped from an all-time high of roughly <strong>$465</strong> to less than $1 in less than a week.</p>","level":"medium","meta_title":"What is Exit Scam? Definition & Meaning | Crypto Wiki","meta_description":"Exit Scam meaning: Exit Scam - is a means of causing projects to go down or disappear after obtaining the investor's finances.","meta_keywords":null,"language":"en","created_at":"2022-03-14T14:41:56.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-exit-scam"},"currentChapter":"E","currentSection":"what-is-ether","chapterTitle":"E","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-ether","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">
Handbook Cover Page
Crypto Terms: Letter E

What is Ether?

Ether MEANING:
Ether - the cryptocurrency that is used in the Ethereum blockchain.
Easy
1 minute

Let's find out Ether meaning, definition in crypto, what is Ether, and all other detailed facts.

The terms Ether and Ethereum are usually used interchangeably. However, these two terms are not the same thing. Ethereum refers to a blockchain network while Ether is the world’s second-largest cryptocurrency that operates in it. Ether keeps this blockchain network running efficiently.

It can be used as a medium of exchange, allowing crypto users to freely purchase and sell goods and services. Besides, Ether can be used to pay for a variety of transaction fees and computational services. In addition, it is essential for improving the development of decentralized apps on the Ethereum network.

It’s not hard to find Ether because you can purchase it on almost every major cryptocurrency exchange platform. Besides, a number of tokens (referred to as ERC-20 tokens) with their own unique value have been created on the same blockchain.

Previously, new coins were created every time miners verified a new block of transactions, however, the Ethereum platform has taken a brave step of switching to a Proof-of-Stake protocol.
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