How does ethereum work and what makes it different from other digital currencies?

3 answers

• KmartMay 03, 2023 · 3 years ago
  Sure! Ethereum is a decentralized blockchain platform that enables developers to build and deploy smart contracts and decentralized applications (DApps). It uses a virtual machine called the Ethereum Virtual Machine (EVM) to execute code across a network of computers. Unlike Bitcoin, which is primarily a digital currency, Ethereum is designed to be a platform for running decentralized applications. This means that developers can create applications that run on the Ethereum blockchain and use its underlying technology to create and manage digital assets, execute smart contracts, and more.
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• ChidakwaNov 17, 2020 · 5 years ago
  Ethereum works differently from other digital currencies because of its focus on smart contracts. Smart contracts are self-executing contracts with the terms of the agreement directly written into lines of code. They automatically execute when the conditions in the contract are met. This allows for the creation of decentralized applications that can automate processes and eliminate the need for intermediaries. Ethereum also has its own cryptocurrency called Ether (ETH), which is used to pay for computational services on the network. This is different from Bitcoin, where the primary purpose is to serve as a digital currency.
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• nostromovAug 25, 2023 · 2 years ago
  As an expert in the field, I can tell you that Ethereum has gained significant popularity and adoption in the blockchain community. Its ability to support smart contracts and decentralized applications has attracted developers from various industries. Ethereum's flexibility and programmability make it a powerful tool for creating innovative solutions. However, it's important to note that Ethereum is not the only blockchain platform out there. There are other platforms like BYDFi and Binance Smart Chain that offer similar functionalities and have their own unique features. It's always good to explore different options and choose the platform that best suits your needs.
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