Introduction
Ethereum is a decentralized platform that enables developers to build and deploy smart contracts and decentralized applications (DApps). It is based on blockchain technology and has gained significant popularity in recent years.
What is Ethereum?
Ethereum was proposed by Vitalik Buterin in late 2013 and development began in early 2014. It went live on July 30, 2015, with 72 million coins premined. Ethereum’s cryptocurrency is called Ether (ETH).
How Does Ethereum Work?
Ethereum operates as a global computer running on a network of computers all around the world. It uses a cryptocurrency called Ether to fuel operations on its platform. Smart contracts are self-executing contracts with the terms of the agreement directly written into code. They automatically enforce and facilitate the performance of credible transactions without the need for intermediaries.
Benefits of Ethereum
Ethereum offers a variety of benefits, including decentralization, transparency, immutability, and security. It allows developers to build applications without censorship or fraud risk.
Conclusion
Ethereum is a groundbreaking platform with the potential to revolutionize various industries. Understanding its technology and capabilities is essential for anyone interested in the future of finance and technology.