What is Ethereum?

Ethereum is a decentralized platform that enables developers to build and deploy decentralized applications (DApps) and smart contracts. It was proposed by Vitalik Buterin in late 2013 and development was crowdfunded in 2014, with the network going live on July 30, 2015. It allows for secure digital agreements without the need for a trusted third party.

• Ethereum: A decentralized platform to run distributed applications and smart contracts.
• Smart Contract: Self-executing contracts with terms directly written into code and executed on the Ethereum blockchain.
• DApp (Decentralized Application): Applications that run on a blockchain or peer-to-peer network.
• Ether (ETH): The native cryptocurrency of the Ethereum network, used for transactions and computational services.
• Blockchain: A system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.

Frequently Asked Questions

What is Ethereum?

Ethereum is a decentralized platform that enables developers to build and deploy smart contracts and decentralized applications.

Who created Ethereum?

Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer.

How does Ethereum differ from Bitcoin?

While Bitcoin is digital money, Ethereum is a more versatile platform allowing for smart contracts and decentralized applications.

What is Ether?

Ether is the cryptocurrency used to power operations on the Ethereum network, including transaction fees and computational services.

How secure is Ethereum?

Ethereum is considered secure due to its decentralized nature and cryptographic advancements, though it is subject to potential vulnerabilities like any technology.