
What is Ethereum?
Ethereum is a decentralized operating system. The platform introduced, in practice, the concept of "decentralized applications". Its founder, Vitalik Buterin, has been engaged in the development of blockchain and Bitcoin since its inception. Today, several cryptocurrencies are issued in ICOs using Ethereum. These tokens are called ERC-20, and they are the foundation for running scripts in the Ethereum Virtual Machine. Through the development of "smart contracts", Ethereum made it possible to sign tokens that have a specific function besides being a medium of exchange and broadened the capabilities of blockchain "transactions". Its key cryptocurrency is the Ether, which is usually used for payments in smart contracts or dApps. In addition, Ethereum is also fueled with GAS, a cryptocurrency associated with operations that require some kind of computation from its nodes. The GAS price is proportional to the type of the computational power required execute a task. Therefore, a fee in GAS is included to pay for the nodes running or authenticating a transaction. Originally, Ethereum used proof-of-work to reach consensus. The Casper protocol, however, gradually shifted Ethereum consensus from PoW to a custom proof-of-stake protocol.
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- Bitcoin price hits $50K after bullish outlook from Citigroup and Goldman SachsCointelegraph.com News - 8 hours agoBullish maneuvers from MicroStrategy, Goldman Sachs and Citigroup are just a few of the factors backing Bitcoin’s rally back to $50,000. On March 1 cryptocurrency…
- Matic, xDai (STAKE) and Loopring (LRC) rally as Ethereum gas fees riseCointelegraph.com News - 11 hours agoSoaring Etheruem gas costs are driving investors and protocols to take a closer look at layer-two solutions like Matic, Loopring and xDai. The start of…
- Key Bitcoin price indicators signal bulls bought the $43K retestCointelegraph.com News - 12 hours agoBitcoin’s recent 26% drop sent weak hands running for the hills, but derivatives data shows BTC’s setup is still bullish. Bitcoin’s (BTC) severe 26% drop…
- 'Play by the rules or we will shut you down,' says NY AG to crypto industryCointelegraph.com News - 12 hours agoLetitia James said her office was “sending a clear message to the entire industry.” New York Attorney General Letitia James is advising members of the…
- Crypto myth busted: Users haven't mined Ether using a PlayStation 5 yetCointelegraph.com News - 14 hours agoThe original report from GizChina said that a software developer had modified the CPU and graphics cards on the new gaming console to mine crypto.…