How it works:



What is Ethereum?

Ethereum is an open-sourced, decentralized blockchain with smart contract capabilities. In other words, it is a distributed applications platform.

Invented in 2013 by programmer Vitalik Buterin, Ethereum was developed to augment and improve on β€£ , by introducing smart contract capabilities. With smart contracts, there is an endless possibilities of decentralized applications that can be built on the Ethereum blockchain. These applications range from NFTs (β€£) to β€£ to β€£ protocols.

Ethereum's goal is to become the world computer: a single, composable, open, permissionless state machine that could run trust-minimized code. Ethereum brings about a new internet paradigm, by being the base layer of support to decentralized applications that aren’t under the control of 3rd party entities.

Important Concepts

Smart Contracts

Smart contracts are computer programs on a blockchain that automatically execute, without the need for a trusted intermediary, when specific conditions are met.

Smart Contracts = Trustless Contracts

Smart Contracts = Trustless Contracts

Smart contracts have been used on Ethereum for various use cases, from issuing ICO tokens, to β€£ (NFTs), to creating entire β€£ (DAOs).

Powered by Fruition