Scribd
Upload
17 views2 pages

Ethereum

Ethereum is a decentralized blockchain platform that enables smart contracts and decentralized applications. It introduced smart contracts, ether as a cryptocurrency, and a platform for decentralized applications. It uses an Ethereum Virtual Machine and is transitioning its consensus mechanism from Proof of Work to Proof of Stake.

Uploaded by

gknqezsijmddzmtgyw
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
17 views2 pages

Ethereum

Ethereum is a decentralized blockchain platform that enables smart contracts and decentralized applications. It introduced smart contracts, ether as a cryptocurrency, and a platform for decentralized applications. It uses an Ethereum Virtual Machine and is transitioning its consensus mechanism from Proof of Work to Proof of Stake.

Uploaded by

gknqezsijmddzmtgyw
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 2

Ethereum is a decentralized, open-source blockchain platform that enables the creation

and execution of smart contracts and decentralized applications (DApps). It was


proposed by programmer Vitalik Buterin in late 2013 and development began in early
2014, with the network going live on July 30, 2015.

Here are some key features and components of Ethereum:

1. Smart Contracts: Ethereum introduced the concept of smart contracts, which are self-
executing contracts with the terms of the agreement directly written into code. Smart
contracts enable decentralized applications to perform automated actions, such as
transferring digital assets, without the need for intermediaries.
2. Ether (ETH): Ether is the native cryptocurrency of the Ethereum platform. It is used to
compensate participants who perform computations or validate transactions on the
network, a process known as mining or validating. Additionally, ether is used to pay
transaction fees and deploy smart contracts on the Ethereum blockchain.
3. Decentralized Applications (DApps): Ethereum provides a platform for developers to
build decentralized applications (DApps) that run on the blockchain. These applications
can range from financial services, gaming, social networks, supply chain management,
and more. DApps leverage the security, transparency, and censorship resistance of the
blockchain.
4. Ethereum Virtual Machine (EVM): The Ethereum Virtual Machine is a runtime
environment that executes smart contracts on the Ethereum network. It is Turing-
complete, meaning it can run any program logic, making it flexible for a wide range of
applications.
5. Proof of Stake (PoS) Transition: Ethereum is in the process of transitioning from a
Proof of Work (PoW) consensus mechanism, which relies on miners to validate
transactions and secure the network, to a Proof of Stake (PoS) consensus mechanism.
PoS will rely on validators who stake ether as collateral to validate transactions and
create new blocks, reducing energy consumption and improving scalability.
6. Ethereum Improvement Proposals (EIPs): EIPs are proposals for changes and
improvements to the Ethereum protocol. They are discussed, debated, and implemented
by the Ethereum community through a transparent and decentralized governance
process.
7. Ethereum 2.0: Ethereum 2.0, also known as Eth2 or Serenity, is a major upgrade to the
Ethereum network aimed at improving scalability, security, and sustainability. It includes
the transition to Proof of Stake, the implementation of shard chains to increase
transaction throughput, and various other enhancements.
Overall, Ethereum is a pioneering blockchain platform that has paved the way for the
development of decentralized applications, smart contracts, and the broader adoption
of blockchain technology beyond cryptocurrencies.

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy