EthereumWhat is Ethereum?
Ethereum is a decentralized operating system. The platform introduced, in practice, the concept of “decentralized applications”. Its founder, Vitalik Buterin, has been engaged in the development of blockchain and Bitcoin since its inception.
Today, several cryptocurrencies are issued in ICOs using Ethereum. These tokens are called ERC-20, and they are the foundation for running scripts in the Ethereum Virtual Machine. Through the development of “smart contracts”, Ethereum made it possible to sign tokens that have a specific function besides being a medium of exchange and broadened the capabilities of blockchain “transactions”.
Its key cryptocurrency is the Ether, which is usually used for payments in smart contracts or dApps. In addition, Ethereum is also fueled with GAS, a cryptocurrency associated with operations that require some kind of computation from its nodes. The GAS price is proportional to the type of the computational power required execute a task. Therefore, a fee in GAS is included to pay for the nodes running or authenticating a transaction.
Originally, Ethereum used proof-of-work to reach consensus. The Casper protocol, however, gradually shifted Ethereum consensus from PoW to a custom proof-of-stake protocol.
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- What you need to know about Roman Storm’s Tornado Cash trialCointelegraph.com News – 10 minutes agoTornado Cash co-founder Roman Storm’s trial could set a precedent for how much responsibility developers bear for decentralized tools used illegally. Tornado Cash co-founder Roman…
- How high can Bitcoin price go?Cointelegraph.com News – 22 minutes agoIs Bitcoin headed for a correction after $130K or $200K? Various BTC price charts are painting several different targets to watch out for. Key takeaways:Bitcoin…
- How to use GitHub, Discord, and X to find hidden crypto gems earlyCointelegraph.com News – 1 hour agoHype moves fast, but real crypto innovation is quieter. Use GitHub, Discord and X to spot legitimate projects before they moon or rug. Real crypto…
- Crypto funds post $3.7B inflows as Bitcoin soars to new highsCointelegraph.com News – 2 hours agoCrypto ETPs experienced another week of strong inflows, with investors pouring in $3.7 billion and total assets reaching a new all-time high of $211 billion.…
- 10 public companies that quietly turned their balance sheets into Bitcoin treasuriesCointelegraph.com News – 2 hours agoWhile headlines focus on giants like Strategy and Tesla, companies like Aker ASA, Méliuz and Rumble have quietly added BTC to their balance sheets. While…
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