Assets, Ethereum

Where Is Ethereum Based?

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 based on a public blockchain, which means that it is not subject to the control of any central authority. That said, Ethereum does have a foundation, which is a Swiss non-profit organization that helps to support the development of the Ethereum protocol.

The Ethereum blockchain is based on a proof-of-work algorithm, which means that miners are rewarded for validating transactions on the network. In return for their work, miners are rewarded with ether, which is the native cryptocurrency of the Ethereum network.

The Ethereum blockchain is also home to a number of decentralized applications, which are built on top of the Ethereum protocol. These apps run on the Ethereum blockchain and are not subject to the control of any central authority.

So, in short, Ethereum is based on a public blockchain, which is powered by a proof-of-work algorithm. The native cryptocurrency of the Ethereum network is ether, and the network is also home to a number of decentralized applications.

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