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.
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 used for decentralized applications and smart contracts. Decentralized applications or DApps are essentially software programs designed to run on the Ethereum blockchain.
NOTE: WARNING: Ethereum currency is a digital asset that is used to pay for goods and services, and to transfer funds between two parties. It is important to note that Ethereum is a relatively new technology and its usage can involve significant risk. Before using Ethereum, it is essential to understand the risks associated with trading and investing in virtual currencies. You should always research the potential risks before investing or trading in any digital currency.
Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. They are executed automatically when specific conditions are met.
The applications and smart contracts running on Ethereum can be written in Solidity, Serpent or LLL programming languages. Decentralized apps don’t have to be just about money.
They can be about anything where two parties want to interact and there is some kind of middleman that can be eliminated.
Ethereum currency is used to pay for transaction fees and computational services on the Ethereum network. These transaction fees are collected by the nodes that validate the network.
The native currency of Ethereum is called Ether (ETH). It is used to pay for gas, which is a unit of computation used in transactions and other state transitions on the Ethereum network.
8 Related Question Answers Found
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 popular dapp built on Ethereum is CryptoKitties, a game that allows players to breed and trade digital cats.
As of July 25, 2017, the price of Ethereum coin today is $202.31 USD. This is according to CoinMarketCap.com, which tracks the prices of cryptocurrencies. 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 Million Money is a new cryptocurrency that was created in 2020. The currency was created by a team of developers who were looking to improve upon the Bitcoin protocol. Ethereum Million Money is designed to be a more user-friendly and scalable version of Bitcoin.
An Ethereum token is a digital asset that is used to represent a stake in Ethereum, much like a stock represents a stake in a company. Tokens can be used to represent anything, from physical assets like gold or oil, to digital assets like loyalty points or video game items. In the Ethereum network, tokens are used to represent currency, assets, or utility.
In the Ethereum network, nodes that process transactions are rewarded with Ether, the native cryptocurrency of the Ethereum network. The amount of Ether rewarded is proportional to the computational power provided by the node. Nodes that provide more computational power are rewarded with more Ether.
An Ethereum token is a digital asset that is created on the Ethereum blockchain. There are a variety of Ethereum tokens that can be used for different purposes. Some tokens are used as utility tokens, while others are used as currency tokens.
The value of Ethereum has fluctuated wildly in its short history. At its launch in 2015, the price of one ETH was just $0.43. In the years since, the price of Ethereum has reached highs of over $1,400 in early 2018 before dropping back down to around $200 in 2019. 2020 has seen a resurgence in the price of ETH, with it reaching over $700 at the time of writing.
Yes, Ethereum can be used as currency. It 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 also built on a blockchain, which is a shared ledger of all transactions that have ever occurred on the network.
