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 built on a blockchain, similar to the Bitcoin blockchain. However, the Ethereum blockchain is more versatile than the Bitcoin blockchain because it can run smart contracts.
Smart contracts are pieces of code that can be deployed on the Ethereum blockchain and that execute automatically when certain conditions are met.
NOTE: WARNING: Ethereum and Ether are not the same thing. Ethereum is a blockchain platform, while Ether is a cryptocurrency used to fuel the Ethereum network. Investing in either requires understanding of their differences and how they are used. Be sure to do your research before you make any investment decisions.
The native currency of the Ethereum blockchain is called ether. Ether is used to pay for transaction fees and gas costs.
It is also used to pay for the execution of smart contracts.
Ethereum and ether are not the same thing. Ethereum is a decentralized platform that runs smart contracts.
Ether is the native currency of the Ethereum blockchain.
2 Related Question Answers Found
When it comes to cryptocurrencies, there are a lot of different options out there. One of the most popular is Ethereum, but there are also others like Bitcoin and Litecoin. So, what’s the difference between all of these?
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ether is the fuel for running these applications, and is used to pay for transaction fees and computational services on the Ethereum network. So, is Etherlite related to Ethereum?
