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 run these applications, Ethereum uses a virtual machine called the Ethereum Virtual Machine (EVM), which can execute code of arbitrary algorithmic complexity.
In order to achieve this, Ethereum borrows heavily from Bitcoin’s design, but also has its own unique features. For example, Ethereum has a slightly different economic model than Bitcoin – rather than having a limited supply, Ethereum has a variable supply that increases over time (this is known as “inflation”).
NOTE: WARNING: Ethereum is an open source, public blockchain-based distributed computing platform and operating system featuring smart contract functionality. It is important to understand that the denominations used in Ethereum vary depending on the type of currency being used. Therefore, it is essential to ensure that you are familiar with the denominations used in your specific currency before attempting any transactions.
This is because new Ether is created every time a block is mined (a block is mined every 15 seconds on average).
Ether is the native cryptocurrency of the Ethereum platform and it is used to pay for transaction fees and gas. Gas is a unit of measurement that denotes the amount of computational effort that is required to execute a particular operation or program on the Ethereum network.
The denomination used in Ethereum is ETH.
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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 unit of account on the Ethereum blockchain. It is also used to pay for transaction fees and computational services on the network.
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, Ethereum founders Vitalik Buterin, Gavin Wood and Jeffrey Wilcke began work on a next-generation blockchain that had the ambitions to implement a general, fully trustless smart contract platform. Ethereum is a public blockchain-based platform that allows developers to build and deploy decentralized applications.
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.
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 as a platform to launch other cryptocurrencies. In this way, it acts as a launchpad for innovative new ideas and projects.
