Ethereum

 

Ethereum is a platform for creating decentralized applications (dapp) using so-called smart contracts. These are pieces of code that, in accordance with certain requirements, automatically perform a specified action, for example, send investors a share of the profit from the application after a predetermined date. Bitcoin also has smart contracts, but Ethereum simplifies their use because they are built into the system itself. Everything happens in the blockchain, which is also used in Bitcoin. Blockchain serves as an open account log, where everything that happens on the network in real time is recorded. It’s the tool that makes everything work. Blockchain, and therefore the Ethereum network, is distributed to thousands of computers (or nodes) around the world. Solidity, a Turing complete language is used to create smart contracts, so contracts in the blockchain can handle most of the computing functions, and contracts can be quite complex on the device.

 

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