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.
NOTE: WARNING: Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference. Although Ethereum is a powerful tool that has the potential to revolutionize the way we do business, it is also an unregulated technology with a high degree of risk and complexity. Before engaging in any activity related to the Ethereum network, it is strongly recommended to be fully informed about the features and risks associated with the use of this technology. In particular, users must be aware of the security and privacy risks as well as possible vulnerabilities that may exist in relation to their use of Ethereum.
The Ethereum network went live on July 30th, 2015 with 72 million ether pre-mined.
Ethereum is often described as a digital currency but here’s something important to remember: Ethereum is much more than that. Yes, there is a token called ether and it is traded on cryptocurrency exchanges but Ethereum is more than just a digital currency.
It’s a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
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 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.
An Ethereum test network is a private network that developers use to test smart contracts and dapps before deploying them on the main Ethereum network. Test networks allow developers to experiment with new code without having to worry about losing real ETH or interacting with real users. There are two main types of test networks: public testnets and private testnets.
Ethereum nodes are the backbone of the Ethereum network. They play an important role in maintaining the decentralized nature of the network, and they are essential to its operation. Ethereum nodes can be operated by anyone who wishes to do so.
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 Test Network is the public test network for 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. 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.
Network fees are a necessary part of the Ethereum network. They are how miners are able to earn a reward for their work in verifying and processing transactions. Without network fees, miners would not be able to earn a reward and Ethereum would not be secure.
There are many Ethereum test networks, the most popular being Ropsten. Ropsten was created to be a more accurate simulation of the Ethereum mainnet. It uses real ETH as opposed to Ether tokens on the main Ethereum network.
The Ethereum network 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 censorship-resistant platform where developers can build next-generation applications.
