Ethereum update: Why does Ethereum have value?
I’m sorry if this is a stupid question, but this has been something that has fundamentally confused me a bout Eth and cryptocurrencies in general.
I understand the argument that Eth is the gas used for transactions, and I understand that if people transact with it, it can have an implicit value much like fiat currency. I also understand that the technology itself is valuable
What I don’t get is why anyone would adopt **this specific** cryptocurrency. As far as I can tell, Eth is just a specific version of the technology. Why would anyone be compelled to use this specific version of Ethereum when anyone could essentially replicate the currency and use that instead?
TL;DR:
* What compels people to adopt this specific version of Ethereum as currency, as opposed to any other version of the same technology?
* What gives the Eth people are buying any legitimacy?
* What’s to stop a replication of the technology in the future and the adoption of that version as a global currency?
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About Ethereum
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
Author: Dont_Prompt_Me_Bro
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