Scribd
Upload
7 views

Ethereum is Main Concept

Ethereum is a decentralized blockchain platform that allows developers to create smart contracts and decentralized applications (dApps), making it the second most valuable cryptocurrency after Bitcoin. Key features include smart contracts, Ether as the native cryptocurrency, and the ongoing upgrade to Ethereum 2.0 for improved scalability and energy efficiency. The platform also supports a growing sector known as Decentralized Finance (DeFi), which offers financial services without intermediaries.

Uploaded by

hefomij886
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
7 views

Ethereum is Main Concept

Ethereum is a decentralized blockchain platform that allows developers to create smart contracts and decentralized applications (dApps), making it the second most valuable cryptocurrency after Bitcoin. Key features include smart contracts, Ether as the native cryptocurrency, and the ongoing upgrade to Ethereum 2.0 for improved scalability and energy efficiency. The platform also supports a growing sector known as Decentralized Finance (DeFi), which offers financial services without intermediaries.

Uploaded by

hefomij886
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/ 1

Ethereum.

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


developers to build and deploy smart contracts and decentralized applications (dApps). It’s one
of the most well-known cryptocurrencies, second only to Bitcoin in terms of market value.

Here are some key concepts of Ethereum:

1.​ Blockchain: Just like Bitcoin, Ethereum is built on a blockchain, a distributed ledger that
records transactions. What sets Ethereum apart is that its blockchain is designed not
only for financial transactions but also for executing smart contracts.
2.​ Smart Contracts: These are self-executing contracts with the terms of the agreement
directly written into code. Smart contracts run on the Ethereum network and
automatically execute actions when predefined conditions are met. This makes them
tamper-proof and decentralized.
3.​ Ether (ETH): Ether is the native cryptocurrency of the Ethereum network. It’s used to
pay for transaction fees (also called "gas") and computational services on the network.
4.​ Gas: Gas is a unit that measures the amount of computational work required to execute
operations like transactions or smart contracts on the Ethereum network. Users pay gas
fees in Ether to incentivize miners to process their transactions.
5.​ Decentralized Applications (dApps): These are applications that run on a blockchain
network, rather than being hosted on centralized servers. Ethereum allows developers to
create dApps using smart contracts.
6.​ Ethereum 2.0 (Eth2): Ethereum is undergoing an upgrade to improve scalability,
security, and sustainability. One key feature of this upgrade is the transition from Proof of
Work (PoW) to Proof of Stake (PoS), which aims to make the network more
energy-efficient and capable of processing more transactions.
7.​ Decentralized Finance (DeFi): This is a rapidly growing sector within the Ethereum
ecosystem, where financial services like lending, borrowing, and trading are provided
through smart contracts without the need for intermediaries like banks.

Do any of these concepts interest you, or would you like to dive deeper into a specific area of
Ethereum?

You might also like