What is Ethereum?

in bitcoin •  7 years ago 

Ethereum is a decentralized software platform that enables SmartContracts and Distributed Applications (ĐApps) to be built and run without any downtime, fraud, control or interference from a third party. Ethereum is not just a platform but also a programming language (Turing complete) running on a blockchain, helping developers to build and publish distributed applications. The potential applications of Ethereum are wide ranging.

The applications on Ethereum are run on its platform-specific cryptographic token, ETHER. During 2014, Ethereum had launched a pre-sale for ETHER which had received an overwhelming response. Ether is like a vehicle for moving around on the Ethereum platform, and is sought by mostly developers looking to develop and run applications inside Ethereum. Ether is used broadly for two purposes; it is traded as a digital currency exchange like other cryptocurrencies and is used inside Ethereum to run applications and even to monetize work. According to Ethereum, it can be used to “codify, decentralize, secure and trade just about anything”. The current market cap of ether (ETH) is now more than $22 billion.

15.09 - Ethereum.png

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