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.
It is a form of payment made by the clients of the platform to the machines executing the requested operations.
Ethereum is different from Bitcoin in that it allows for Turing complete smart contracts. Turing complete means that the set of operations that can be performed by a computer program is limited only by the lAWS of physics, not by the design of the program.
NOTE: WARNING: ERC is not Ethereum. ERC stands for Ethereum Request for Comments, which is a protocol used for smart contracts development on the Ethereum blockchain. It is not a cryptocurrency or blockchain platform itself.
This gives developers unprecedented power to create applications that were not possible before.
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.
The EVM makes it possible to create decentralized applications with no single point of failure.
The native cryptocurrency of the Ethereum network is called ether. Ether is used to pay for gas, which is used to execute transactions and run smart contracts on the Ethereum network.
Is ERC an Ethereum? No, ERC is not an Ethereum.
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An ICO, or initial coin offering, is a new way of funding start-UPS and other companies that is growing in popularity. In an ICO, a company creates a new digital currency and offers it for sale to the public, in exchange for other currencies like Bitcoin or Ethereum. The new currency is similar to a share in the company, and can be traded on exchanges or used to purchase goods and services from the company.
An ICO, or Initial Coin Offering, is a fundraising method where new projects sell their underlying crypto tokens in exchange for bitcoin and ether. It’s somewhat similar to an Initial Public Offering (IPO) where investors purchase shares of a company. ICOs have become a popular way to fund cryptocurrency projects and have raised over $1 billion dollars in the last year.
VRA is not an Ethereum. VRA is a digital token that powers the virtual reality ecosystem. The VR ecosystem is a decentralized platform that allows users to create, share, and monetize their VR content.
Since its launch in 2015, Ethereum has become one of the most popular cryptocurrencies. Unlike Bitcoin, Ethereum is more than just a digital currency. It is also a decentralized platform that runs smart contracts.
