Ethereum was launched in 2013 as an open-source platform based on the block-chain technology and it claims to be the foundation for the new era of the internet. The Ethereum white paper was released by Vitalik Buterin in late 2013 after proposals to include a scripting language to enable decentralized applications on the Bitcoin blockchain failed to gain traction. Ether is the native currency of the Ethereum blockchain. Developers use this crypto to pay for the transaction fees and services on the Ethereum network. Many crypto projects exploited this technology to create numerous tokens of their own. It is highly secured and protected against attacks from hackers.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. In the Ethereum protocol and blockchain there is a price for each operation. The general idea is, in order to have things transferred or executed by the network, you have to consume or burn Gas. As long as you have enough funds to pay for your code to be run by the network, your contacts will always be up and running.
Ethereum is a platform that is intended to allow people to easily write decentralized applications (Dapps) using blockchain technology. A decentralized application is an application which serves some specific purpose to its users, but which has the important property that the application itself does not depend on any specific party existing. Rather than serving as a front-end for selling or providing a specific party's services, a u0110app is a tool for people and organizations on different sides of an interaction use to come together without any centralized intermediary.
A comparatively large hashrate makes Ethereum one of the more secure blockchains in existence.
A smart contract is simply a piece of code that Ethereum allows the development and deployment of these. It's called a contract because code that runs on Ethereum can control valuable things like ETH or other digital assets.
Ethereum Virtual Machine
Ethereum provides the underlying technology-the architecture and the software-that understands smart contracts and allows you to interact with it.
Decentralized applications (Dapps)
Ethereum allows you to create consolidated applications, called decentralized applications. A decentralized application is called a Dapp (also spelled DAPP, App, or DApp) for short.
Decentralized Autonomous Organizations (DAOs)
Ethereum allows you to create these for democratic decision-making. DAOs tackle an age-old problem of governance, which political scientists and economists refer to as the principal-agent dilemma. This occurs when the agent of an organization has the power to make decisions on behalf of, or impacting, the principal - another person or entity in the organization.
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