What is Ethereum?
Ethereum is a platform on a blockchain basis which allows users to create and start the decentralized applications with the use of smart contracts.

Ethereum was offered by Vitalik Buterin at the end of 2013, and in the summer of 2015, the network was founded.

Ethereum is the public decentralized network based on a blockchain using the Proof of Work protocol. Ethereum uses a blockchain for the start of any decentralized application loaded in its network.

Ether (ETH) – a cryptocurrency that is used in the Ethereum platform. It is used by users as payment for services in the network.

These services are called smart contracts. They are created for simplification of exchange of money, content, property or other values. The performance of the contract is provided with the computer algorithm written in a blockchain. Smart contracts are arranged so that a certain action happens only at the achievement of certain conditions. The principle of work can be explained in the example of the vending machine. You pay money and select what you want to buy. If you paid less than it is necessary, you do not receive an item.

Ethereum allows to develop and start thousands of different applications. An important role in it is played by the ability of the platform to perceive any programming language, because of the Ethereum Virtual Machine (EVM).

Ethereum - open, protected, accessible and promptly developing blockchain.


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