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What is Ethereum?

Learn from Cryptocurrency

What is Ethereum?

Ethereum: A Decentralized Platform

Ethereum is a decentralized, open-source platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third-party interference.

Key Points about Ethereum:

* Blockchain-Based: It's built on blockchain technology, ensuring security and transparency.
* Smart Contracts: These are self-executing contracts with the terms of the agreement directly written into code.
* Ether (ETH): This is Ethereum's native cryptocurrency, used for transaction fees and to pay for services on the platform.
* Decentralized Applications (DApps): Ethereum supports the creation of various decentralized applications, including financial services (DeFi), gaming, and more.
* Open-Source: The platform's code is publicly accessible, allowing for community contributions and development.

How Does it Work?
Ethereum operates on a network of computers that collectively validate and record transactions. This decentralized approach eliminates the need for intermediaries, making it more secure and resistant to censorship.

Why is Ethereum Important?
Ethereum has revolutionized the way we think about applications and finance. By providing a platform for creating decentralized applications, it has opened up new possibilities for innovation and disruption across various industries.

Would you like to know more about specific aspects of Ethereum, such as smart contracts, DeFi, or how to get started with Ethereum?

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