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 based on a public blockchain, which means that all of its transactions are public and transparent. This also makes it possible for anyone to build applications on top of Ethereum.
The Ethereum blockchain is powered by ether, which is a type of cryptocurrency. Ether is used to pay for transaction fees and computational services on the Ethereum network.
Ethereum was launched in 2015, and its native currency, ether, has since become one of the most popular cryptocurrencies in the world. Ethereum has also attracted a lot of attention from developers, who are using its smart contract functionality to build a variety of decentralized applications (dapps).
What Is Ethereum Based On – Conclusion
In conclusion, Ethereum is based on a public blockchain and powered by ether. Its smart contract functionality has attracted a lot of attention from developers, who are using it to build a variety of decentralized applications.