01/03/2025
What is Ethereum?
Ethereum is an open-supply, decentralized platform that enables developers to build and install smart contracts and decentralized programs (dApps). Launched in 2015 by Vitalik Buterin, Ethereum is one of the most popular blockchain platforms, second-handiest to Bitcoin in terms of market capitalisation.
At its center, Ethereum is a blockchain like Bitcoin, however with a key distinction: even as Bitcoin changed into designed on the whole as digital forex (a store of price and medium of exchange), Ethereum became designed to be a platform for decentralized applications (dApps) and smart contracts.
Key Features of Ethereum:
Smart Contracts: Smart contracts are self-executing contracts with the terms of the agreement at once written into lines of code. These contracts run on the Ethereum blockchain and routinely execute and implement the terms while positive situations are met.
For example, a smart contract may want to mechanically launch finances whilst a certain date is reached or whilst a certain condition is met (like the transport of goods).
Smart contracts eliminate the need for intermediaries (which include banks, attorneys, or notaries) in transactions, making them quicker, cheaper, and more stable.
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