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.
NOTE: WARNING: Ethereum is a complex and emerging technology. There is a lot of nuance and detail to understand about what it does, how it works, and how it can be used. Before engaging with Ethereum, be sure to do your own research and understand the risks involved with investing in cryptocurrencies and other blockchain technologies.
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 often described as a digital currency but here’s something important to remember: Ethereum is much more than that. Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
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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 the Ethereum protocol and blockchain there is a price for each operation. The general ledger of Ethereum is a decentralized database that keeps track of the balance of all accounts.
The Ethereum Virtual Machine (EVM) is a Turing complete virtual machine that allows anyone to run any program, regardless of the programming language given enough time and memory. The EVM makes it possible to create decentralized applications (dapps) on the Ethereum blockchain. The EVM is a key component of Ethereum and allows it to function as a world computer.
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 for a wide variety of applications such as:
– Decentralized finance: Decentralized exchanges, synthetic assets, lending platforms, and more.
– DeFi applications allow users to do things like take out loans, trade cryptocurrencies, and earn interest on their crypto holdings.
– NFTs: Non-fungible tokens are unique digital assets that can represent anything from art to real estate.
– Gaming: Ethereum is being used to create decentralized versions of popular games like CryptoKitties and Gods Unchained.
– Identity management: Ethereum can be used to build decentralized identity systems that give users control over their own data.
– Prediction markets: Platforms like Augur allow users to bet on the outcome of events.
– Data storage: Ethereum can be used to build decentralized data storage solutions that are censorship-resistant and secure. Ethereum is being used for a wide variety of applications that range from finance to gaming to data storage.
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 the Ethereum protocol and blockchain there is a price for each operation. The miners are free to choose which transactions to process and they are incentivized to include the ones that pay them the most fees.
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 a programmable blockchain. It allows users to create their own decentralized applications (dapps) on the Ethereum blockchain.
What is 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 how the Internet was supposed to work.
