Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk.
The project was bootstrapped via an ether presale in August 2014 by fans all around the world. It is developed by the Ethereum Foundation, a Swiss non-profit, with contributions from great minds across the globe.
Ethereum is an open source, public, blockchain-based distributed computing platform and operating system featuring smart contract (scripting) functionality. It supports a modified version of Nakamoto consensus via transaction-based state transitions. Ether is a cryptocurrency generated by the Ethereum platform and used to compensate mining nodes for computations performed.[4] Each Ethereum account has an ether balance and act as gas to power transactions and smart contracts.
NOTE: This is a warning to all readers: Is ETHE an Ethereum? is a deceptive question that may be used to lure unsuspecting viewers into investing in a fraudulent cryptocurrency. Before making any decisions based on this question, please do your research thoroughly and make sure that the cryptocurrency is legitimate. You should also consult with an independent financial advisor or other qualified professional before making any investment decisions.
[5] Gas is used to pay for computation within the EVM during transaction execution.[5] Accounts also act as storage for blockchain data (state)[6][7] and have key-value pairs called storage.
The account model used in Ethereum has many differences from bitcoin’s UTXO model.[8][9] In UTXO-based systems like bitcoin, one sends an output of a previous transaction to a new public key associated with a new recipient.[10] By contrast, in account-based systems like Ethereum, one instead sends value from one account’s nonce to another account’s public key.[11][12] This allows for simpler smart contracts where state transitions do not depend on UTXO inclusion.
[9] However, this also means that accounts can be re-used for multiple transactions which may confuse users not familiar with UTXO-based systems like bitcoin.[9] For this reason, some people have called for Ethereum to switch its consensus algorithm back to Proof of Work so that it can use UTXOs instead of accounts;[13][14] however, this would require a hard fork which may be undesirable given the current level of network stability and hashrate.
In short, ETHE is not an Ethereum but rather it is a cryptocurrency generated by the Ethereum platform.
10 Related Question Answers Found
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. In 2014, Ethereum launched a presale for ether, which received an overwhelming response. Ether is like the fuel for operating the distributed application platform of Ethereum.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum is an IDE. It is a complete programming environment that allows developers to create, compile, test, and deploy smart contracts.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum is used to build decentralized applications (DApps) on its platform. Decentralized applications are computer programs that are running on the Ethereum network.
IoTeX is not an Ethereum. While both platforms are blockchain-based and open-source, they differ in their fundamental design and purpose. Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
As the second-largest cryptocurrency by market capitalization, Ethereum has been one of the most popular investments in the digital currency space. While the asset has seen its fair share of volatility, it has outperformed Bitcoin over the long run and is seen as a promising investment by many in the space. One question that often comes up among Ethereum investors is whether or not to hold their Ethereum (ETH) or trade it for other assets.
VeVe is a smart contract platform that allows users to create and manage their own digital assets, including but not limited to cryptocurrencies, utility tokens, and fiat currencies. The platform is built on the Ethereum blockchain and utilizes the ERC20 token standard. VeVe is not an Ethereum token.
Equihash is a proof-of-work algorithm used by a number of cryptocurrencies. Equihash is notable for its memory-hardness, which makes it ASIC-resistant. This allows miners to use commodity hardware, such as GPUs, to mine cryptocurrencies that use Equihash.
In the cryptocurrency world, there are many different types of coins and tokens. Some of these tokens are built on top of existing blockchain platforms, while others are their own standalone blockchain. CHZ is a token that falls into the latter category.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. EtherLite is a decentralized platform that uses smart contracts to run Dapps: Decentralized Applications. These Dapps can be used to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middleman or counterparty risk.
Pied Piper is a decentralized application platform that allows for the creation and deployment of smart contracts and decentralized applications. It is built on the Ethereum blockchain and utilizes the Ethereum Virtual Machine (EVM) to execute code. Pied Piper is also a Turing-complete platform, meaning that it can run any program that can be written in a programming language.
