What is Ethereum?
Ethereum is a decentralized platform that enables developers to build and deploy smart contracts and decentralized applications (dApps). It was proposed by Vitalik Buterin in late 2013 and development began in early 2014, with the network going live on July 30, 2015.
Key Features of Ethereum
- Smart Contracts: Self-executing contracts with the terms of the agreement directly written into code.
- dApps: Decentralized applications that run on a blockchain.
- Ether: The native cryptocurrency of the Ethereum platform, used for transactions and computational services.
Frequently Asked Questions
What is Ethereum used for?
Ethereum is used for building decentralized applications, executing smart contracts, and conducting transactions using its native cryptocurrency, Ether.
How does Ethereum differ from Bitcoin?
While Bitcoin is primarily a digital currency, Ethereum is a platform for building decentralized applications and smart contracts, offering more versatility and functionality.
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