Ethereum explained — what is Ethereum and how it works
Before reading this article below, please read our Beginner’s Guide to Ethereum.
Ethereum is an open-source, public, blockchain-based distributed ledger featuring programming functionality.
The technology itself is powered by software running on a network of computers (or nodes) that ensures data and programs (called smart contracts) are replicated and run on all computers on the network without a central intermediary.
Ethereum builds on Bitcoin’s innovation of a distributed ledger where the blockchain stores, validates and replicates data on many computers worldwide.
It takes that innovation and gives the blockchain programmability; i.e. code can be run on the blockchain through smart contracts using the Ethereum operating system known as Ethereum Virtual Machine.
Programs can now be run in a decentralized manner in a trustless environment, powered by a network of thousands of computers worldwide, without the ability to be taken down or censored by a centralised institution or third…
