Ethereum
Ethereum is a decentralized open-source blockchain platform that enables the development of distributed applications (dApps) and smart contracts. It was created in 2015 by Vitalik Buterin, a Russian-Canadian programmer, and is the second-largest cryptocurrency by market capitalization. Ethereum is a public, permissionless blockchain that allows anyone to build and use decentralized applications that run on blockchain technology. Ethereum is powered by Ether, a cryptocurrency that can be used to pay for transaction fees and services on the Ethereum network.
History of Ethereum
Ethereum was first proposed in 2013 by Vitalik Buterin, a Russian-Canadian programmer. Buterin had previously worked on Bitcoin, and was inspired by its potential to create a decentralized platform for applications. He proposed Ethereum as a platform that would allow developers to create decentralized applications and smart contracts. Ethereum was officially launched in 2015, and has since become one of the most popular blockchain platforms in the world.
Comparison Table
| Feature | Ethereum | Bitcoin |
|---|---|---|
| Consensus Mechanism | Proof of Work | Proof of Work |
| Block Time | 15 seconds | 10 minutes |
| Transaction Fees | Variable | Variable |
| Smart Contracts | Yes | No |
Summary
Ethereum is a decentralized open-source blockchain platform that enables the development of distributed applications (dApps) and smart contracts. It was created in 2015 by Vitalik Buterin, a Russian-Canadian programmer, and is the second-largest cryptocurrency by market capitalization. Ethereum is powered by Ether, a cryptocurrency that can be used to pay for transaction fees and services on the Ethereum network. For more information about Ethereum, visit the official website at https://www.ethereum.org/.
See Also
- Cryptocurrency
- Blockchain
- Smart Contracts
- Decentralized Applications (dApps)
- Bitcoin
- Proof of Work
- Ether
- Mining
- ERC-20 Tokens
- Ethereum Virtual Machine (EVM)
