Ethereum is a cryptocurrency, which is a naming for electronic/digital money. It was launched in 2015, Vitalik Buterin is the author. It is the second most valuable cryptocurrency (first one is Bitcoin) and uses smart contracts (specific computer codes) built on a blockchain. Ethereum Foundation is in charge of development of the Ethereum currency, one Ackee’s project was supported also supported by this foundationthe as part of one of its grants.
Smart contract is a computer protocol or software that performances, verifies or enforces the contract itself over one of the blockchains. Thus it replaces, for example, a missing contract agreement, does not need a human factor to proceed and its transactions are easily traceable and irreversible thanks to the blockchain. At Ackee, we help the adaptation of Blockchain for the Ethereum currency and have experience with Smart contracts.
Blockchain is a distributed and publicly accessible database that is primarily used by cryptocurrencies. Its advantage is that it has no center, it works thanks to the cryptocurrency mining of each individual user. Individual cryptocurrencies have their own blockchains, each of them has different features such as the mining algorithm, voting principles, or block sizes. In Ackee, we help Blockchain to adapt.