Assets, Ethereum

What Is B 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.

In 2014, a crowdfunded project led by Vitalik Buterin created Ethereum to pursue his vision of a more generalizable blockchain that can be used for a wider range of applications than just digital currency. Ethereum raised over 18 million dollars in crowdfunding in 2014 from enthusiasts all over the world.

The Ethereum blockchain is different from Bitcoin’s in that it allows for Turing complete smart contracts. This means that developers can create applications that run on the Ethereum blockchain.

These applications can be used to facilitate, verify, or enforce the negotiation or performance of a contract.

The potential uses of Ethereum are limitless. Developers are already working on applications that range from digital identity and reputation systems to predictive markets and decentralized social networking.

While the Bitcoin blockchain is used to track ownership of digital currency (Bitcoins), the Ethereum blockchain focuses on running the programming code of any decentralized application.

In order to run these decentralized applications, people need to use Ether, which is the native cryptocurrency of the Ethereum blockchain. Ether is used to pay for gas, which is a unit of measurement used to price resources needed to run an application or transaction on the Ethereum network.

What Is B Ethereum?
B Ethereum is an open source, public, blockchain-based distributed computing platform featuring smart contract (scripting) functionality. It provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes.

Ethereum also provides a cryptocurrency token called “ether”, which can be transferred between accounts and used to compensate participant nodes for computations performed. “Gas”, an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.[3][4].

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