Assets, Ethereum

Is EtherLite Part 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.

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.

The Ethereum Virtual Machine (EVM) makes this possible even without EtherLite’s native currency, ELT. By running EVM, EtherLite can execute code of arbitrary algorithmic complexity.

In fact, EtherLite’s currency is only needed to pay for transaction fees and as a “gas” to limit computation and prevent denial-of-service attacks. Unlike Bitcoin, there is no limit to how many transactions can be processed by the EVM per second.

NOTE: WARNING: EtherLite is NOT part of Ethereum. It is a separate cryptocurrency network with its own blockchain and token. It may have similarities to Ethereum, but it is not part of the Ethereum network. Investing in EtherLite may carry a significant risk, and you should do your own research before investing any money.

EtherLite’s primary goal is to provide a platform for decentralized applications. While it shares many characteristics with Ethereum, there are also some important differences.

EtherLite is designed to be more lightweight and scalable than Ethereum. It uses a new consensus algorithm called Tendermint, which enables it to process around 10,000 transactions per second with finality (i.e.

without the need for confirmations).

It also has a modular architecture that allows developers to easily create and deploy custom protocols on top of the platform. Protocols can be used to create anything from simple token systems to complex decentralized exchanges.

Because of these features, EtherLite is often referred to as the “Ethereum killer”. While this may be premature, it’s undeniable that EtherLite has a lot of potential and is worth keeping an eye on.

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