Assets, Ethereum

Does Ethereum Have an App?

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 middleman or counterparty risk.

The project was bootstraped 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 not just a platform but also a programming language (Turing complete) running on a blockchain that helps developers to build and publish distributed applications. The fact that Ethereum is Turing complete makes it unique compared to other blockchain platforms out there.

Turing completeness means that given enough computing power and time, anything can be calculated by an Ethereum smart contract.

NOTE: WARNING: Ethereum does not have a dedicated app. There are several third-party apps available, but they have not been officially endorsed by the Ethereum Foundation. As such, they may not be safe to use and could contain malicious code which could harm your computer or finances. Use at your own risk.

The Ethereum Virtual Machine (EVM) is the runtime environment for smart contracts in Ethereum. It is a 256-bit register stack, designed to run the same code exactly as intended.

Gas, an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.

Ethereum’s native cryptocurrency “ether” (sometimes referred to as “ETH”) is used to pay for transaction fees and computational services on the Ethereum network. Ether is like fuel for running distributed applications; if you don’t have ether than you can’t interact with the Ethereum network.

There are two main ways to get ether: buy it on an exchange or receive it from another person via a peer-to-peer transaction. You can also earn ether by mining for it or participating in various bounty programs offered by Ethereum Foundation and other organizations.

And lastly, you can receive ether as payments for goods or services you have provided.

The bottom line – does Ethereum have an app? The answer is yes!.

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