Ethereum

A decentralized, open source[3] blockchain[4] platform that supports the creation and execution of smart contracts[2] and decentralized applications[1] (dApps).

Defined Terms
1. decentralized applications.

decentralized applications

2. smart contracts.

Self-executing contracts with the terms of the agreement directly written into code, automatically enforcing the agreed-upon conditions and actions.

3. open source.

Code that is available publicly and that anyone can use. People can take it and modify it for their purposes.

4. blockchain.

An encrypted digital record of transactions. The name comes from its structure, in which individual records, called blocks, are linked together in single list (or chain) using cryptography. Information held on a blockchain exists as a shared and continually reconciled database. Each block is protected with a timestamp and transaction date and link to the previous block.A decentralized and distributed ledger technology that securely records and verifies transactions across multiple computers or nodes, providing transparency, immutability, and trust.

Scroll to Top
Verified by MonsterInsights