FAQ on Ethereum

What is Ethereum?

It’s an Open Source Blockchain-based computing platform provides Decentralized Virtual Machine aka EVM used to build smart contract.

What is Smart Contract?

Smart contract is a computer program that enables the capability to execute and enforce an agreement.Now terms of the smart contact are recorded in a computer language e.g. Solidity, JAVA, Node, Python, Go etc. as a set of instruction.

What is Solidity?

It is high level object oriented language for Smart contracts and is compiled to bytecode that is executable on the EVM.

What is EVM- Ethereum Virtual Machine?

EVM contains the Stack of protocols that defines a platform for DAPP aka decentralized apps.

Example of DAPP

Decentralized Organization, Licensing Music, Documents etc.,Governance etc.

What is ICO — Initial Coin Offering?

You can create your own crypto-currency to raise the funds from public e.g IPO in terms of Share market.It is also called as crypto-currency crowd sale.

What is DAO — Decentralized Autonomous Organization?

It is also called as Decentralized Democratic Organization. A organization runs on blockchain. All the rules are written on smart contact.

Its like creating a Public limited or Private limited. ICO/Token holders are called as share holders can vote on the proposals.Shares can be bought of sold in open market like stock exchange.