President Donald Trump has called himself a “Bitcoin reserve, and issued an Ethereum blockchain. Cloud computing giants like Google or Amazon own large centralized warehouses of servers that they rent out to developers. Buterin designed Ethereum as a decentralized cloud computing network that no one entity controls.
Rather than pay fees to a big tech goliath, developers pay a network of operators with Ether, Ethereum’s native cryptocurrency. The blockchain has gained popularity among banks and companies, which have adapted it for their own use. Ether is the second-largest cryptocurrency by market capitalization and is worth about $283 billion.
