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 every account.
It is “an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way”. For this reason, Ethereum is often described as a digital currency.
Ethereum can be used to build Decentralized Autonomous Organizations (DAO). A DAO is an organization with no central authority or single administrator.
The code of the DAO is stored on the Ethereum blockchain and runs on a network of decentralized nodes. The DAO is owned by everyone who purchases tokens, but these tokens can only be used to vote on proposals.
The goal of Ethereum is to create a decentralized world computer that anyone can build applications on top of it. It has its own native cryptocurrency called Ether (ETH).
NOTE: WARNING: Ethereum is a complex and rapidly evolving technology that can be difficult to understand for beginners. It is important to do your own research and understand the risks associated with investing in Ethereum. Additionally, before engaging in any transactions or investments related to Ethereum, it is essential that you consult a qualified financial advisor or cryptocurrency expert.
Ether can be sent from one address to another, and can also be used to pay for gas, which is a unit of computation used in order to execute smart contracts on the Ethereum blockchain.
The vision of Ethereum is to create a world computer that would be able to execute programs exactly as they are programmed without any possibility of fraud or third-party interference. Ethereum was crowdfunded during August 2014 by fans all around the world.
It is developed by ETHDEV with contributions from great minds across the globe.
Ethereum’s smart contracts are based on different computer languages, which developers use to program their own functionalities into the contracts. Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code.
The code and the agreements exist across a distributed, decentralized blockchain network. This makes transactions traceable and irreversible.
Ethereum’s vision is to create a more globally accessible, more free, and more trustworthy Internet infrastructure than what we have today. With Ethereum, developers can build next-generation applications that solve real-world problems.
They can be certain that their code will run exactly as they intended it to because Ethereum executes smart contracts on a world computer that ensures perfect execution every time.
10 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 how the Internet was supposed to work. Ethereum was crowdfunded during August 2014 by fans all around the world.
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 means that developers can create applications on 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. It is a trustless, tamper-proof platform where users can interact without the need for a middleman.
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 records these prices in ETH (Ether), the internal currency of 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 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.
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 maintained by miners who are rewarded with Ether, the native currency of Ethereum, for verifying transactions.
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. It is a distributed network with no central authority that anyone can access.
The purpose of Ethereum is to create 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 distributed public blockchain network. Ether, the platform’s native cryptocurrency, is mined and used to pay for transaction fees and services on the Ethereum network.
In 2014, Ethereum launched a pre-sale for ether which received an overwhelming response; ETH sold out in a matter of hours with investors buying up ETH at a rate of 1000 to 1. This represented a record for the highest ratio of ether to bitcoin. Ethereum has been described as a digital currency, a distributed computing platform, and a decentralized applications platform.
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 purchase, breed, and trade digital cats.
