What is Ethereum (ETH)?
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (dApps). It was created in 2015 by Vitalik Buterin and has since become one of the most widely used blockchain platforms.
Like Bitcoin, Ethereum is a decentralized, peer-to-peer network that uses cryptography to secure and record transactions. However, Ethereum has additional capabilities that make it more versatile than Bitcoin.
One key difference is that Ethereum has a built-in programming language called Solidity, which allows developers to create smart contracts and dApps on the Ethereum platform. Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. They can be used to facilitate, verify, and enforce the negotiation or performance of a contract. dApps are decentralized applications that run on the Ethereum blockchain and are not controlled by any single entity.
Ethereum’s native cryptocurrency is called Ether (ETH), which is used to pay transaction fees and power the Ethereum network. Ether can also be bought and sold on exchanges like Bitcoin.
Ethereum has a wide range of potential applications, including financial transactions, supply chain management, voting systems, and more. It has attracted a large and growing community of developers, users, and organizations, and has the potential to revolutionize a variety of industries.
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