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 lets developers build and deploy decentralized applications. A decentralized application or DApp serve some specific purpose to its users. Bitcoin, for example, is a DApp that provides its users with a peer-to-peer electronic cash system that enables online Bitcoin payments.
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.
The Ethereum blockchain tracks the state of every account, and all state transitions on the Ethereum blockchain are transfers of value and information between accounts. For example, let’s say Alice wants to transfer some money to Bob. With Ethereum, she only needs to specify Bob’s address, and the amount she wants to send him. No other information is needed.
NOTE: WARNING: Before investing in Ethereum, be aware that the circulating supply of Ethereum can fluctuate rapidly and unpredictably. Ethereum’s circulating supply is determined by the total number of coins released into circulation, which is subject to change due to factors such as blockchain halving and hard forks. Investing in Ethereum without understanding the circulating supply of the asset can result in losses.
The transaction will automatically be created, signed by Alice’s private key, and broadcasted to the network where it will be verified by miners and eventually included in a block by Bob’s node. The fact that all Ethereum transactions are public means that anyone can see how much money Alice has in her wallet – but only Alice has access to her private keys and can therefore transfer her money to Bob or anyone else she wants.
The process of creating and verifying transactions on the Ethereum blockchain is called “mining.” Miners are rewarded with Ether for each transaction they include in a block. They also receive rewards for verifying blocks from other miners (this is called “proof of work”).
The amount of Ether given as a reward for each block mined reduces over time (it is halved roughly every two years). This gives incentives for miners to stay on the network even as mining becomes increasingly difficult (and expensive) over time.
The current circulating supply of Ethereum is about 105 million ETH. The total supply is unlimited because new ETH can be created through mining (proof-of-work).
There is no set schedule for when new ETH will be created – it depends on how much mining power is active on the network at any given time. In terms of market capitalization (total value of all ETH), Ethereum is currently the second largest cryptocurrency after Bitcoin.
8 Related Question Answers Found
As of September 2018, the max supply of Ethereum is not yet known. The reason for this is that the Ethereum blockchain is still in its early stages of development and has not yet reached its full potential. However, the current max supply of Ethereum is approximately 100 million ETH.
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 public blockchain-based platform that enables the development of decentralized applications (dApps) and smart contracts. It provides a decentralized virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes.
Ethereum mainnet is the original Ethereum blockchain, as opposed to various testnets or private blockchains. All ETH tokens and smart contracts are deployed on the Ethereum mainnet. The Ethereum mainnet went live on July 30, 2015.
The Ethereum mainnet is the original and main network for the cryptocurrency and smart contract platform Ethereum. This is opposed to testnets, which are used for testing purposes. The mainnet is the only network where Ether (ETH) has real value and can be exchanged for other cryptocurrencies or fiat currencies.
Ethereum is a public, open-source, decentralized computing platform and operating system featuring smart contract (scripting) functionality. It supports a modified version of Nakamoto consensus via transaction-based state transitions. Ethereum was proposed in 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer.
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 order to achieve this, ethereum uses a mainnet and a testnet. The mainnet is the live network where transactions actually take place and cost real ether.
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 traded on a variety of exchanges and can also be used to purchase other cryptocurrencies, such as Bitcoin and Litecoin. The price of Ethereum has fluctuated wildly in its short history.
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 to build decentralized applications (dapps) on its platform. The most important feature of Ethereum is that it is programmable.
