What is 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.

Ethereum was created by Vitalik Buterin, a young programmer who was born in Russia and raised in Canada. He initially proposed Ethereum in 2013 as a way to use blockchain technology to change the internet for the better.

Since its launch in 2015, Ethereum has become one of the most popular cryptocurrencies, with a market capitalization of over $180 billion. It is used by developers all over the world to build decentralized applications.

What is a decentralized application?

A decentralized application (dapp) is an application that runs on a decentralized network. A dapp can be built on any blockchain, but the most popular platform for dapps is Ethereum.

Dapps are similar to traditional apps, but they have a few key differences:

They are open source and anyone can contribute to their development.

They are decentralized, which means they are not controlled by any single entity.

They run on smart contracts, which are programs that run exactly as programmed without any possibility of fraud or third-party interference.

What is a smart contract?

A smart contract is a program that runs on a blockchain. Smart contracts are stored on the blockchain and can be used to automatically execute transactions when certain conditions are met.

For example, a smart contract could be used to automatically send payments to a freelancer when their work is completed or to automatically issue a refund if a product is not delivered on time.

Smart contracts are still in their early stages of development and are not yet widely used. However, they have the potential to change the way we interact with technology, as they can automate many tasks that are currently done manually.

Ethereum is a decentralized platform that enables developers to build dapps, which are applications that run on a blockchain. Ethereum has become one of the most popular cryptocurrencies due to its ability to run smart contracts, which are programs that automatically execute transactions when certain conditions are met. While Ethereum is still in its early stages of development, it has the potential to change the way we interact with technology.

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