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Discussion on: Explain Ethereum like I'm five

ben profile image
Ben Halpern Author

Okay that does answer a lot of my questions about purpose. So Ethereum's value is sort of more on the practical side of things. You could do a lot of this stuff on Bitcoin, but Ethereum is built for more practicality in achieving certain use cases?

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isaacdlyman profile image
Isaac Lyman

Yeah, and there are a few differences in implementation. For example, the number of freshly-minted Bitcoin is reduced by half each year with a hard maximum of 21 million Bitcoin (there can never be more Bitcoin than that, because math). There's no hard maximum to Ethereum, though I've heard that they won't increase the amount they issue per year, but may decrease it (possibly to 0).

Ethereum also has DAOs, which as I understand it are democratic robot investment funds that run on an Ethereum script and choose how to invest their members' Ethereum dollars.