🙂 Ethereum for Dummies by Vaibhav Saini
<aside> 👍🏻 HIGHLY recommend a read of its Introduction section before going on to the rest of the page.
How does Ethereum work, anyway? by Preethi Kasireddy
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 Bitcoin , 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 (Non-Fungible Tokens) to Dencentralized Autonomous Organizations to Decentralized Finance 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.
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 have been used on Ethereum for various use cases, from issuing ICO tokens, to Non-Fungible Tokens (NFTs), to creating entire Dencentralized Autonomous Organizations (DAOs).