What is Ethereum?

Ethereum is a platform for creating decentralized applications (dApps) and smart contracts based on blockchain technology. It allows developers to create their own applications that run on a distributed network of computers, rather than on a single server. This makes them more reliable and resistant to censorship and hacker attacks.

Key Features of Ethereum:

• Decentralization. Ethereum operates on the basis of a decentralized network, where there is no central authority. All members of the network have equal rights and opportunities.

• Smart contracts. These are self-executing contracts that are automatically executed when certain conditions are met. They are used to automate various processes, such as trading, exchange, lending, etc.

• The Ethereum Virtual Machine (EVM). Is a runtime environment for smart contracts that ensures their security and reliability.

• Gas (Gas). This is the unit of measurement for computing work in Ethereum. Developers pay for the execution of their smart contracts using gas.

• Ether (ETH). Is a cryptocurrency that is used to pay for transactions and commissions on the ethereum network. Ether is also an ERC -20 token that can be stored in wallets and exchanged for other cryptocurrencies.

How does Ethereum work?

1. Users send transactions to the ethereum network using their wallets.

2. Transactions are processed by network nodes and recorded in blocks.

3. Blocks are connected in a chain of blocks, forming a blockchain.

4. Smart contracts are executed on the ethereum virtual machine in accordance with the conditions set by the developers.
   5.Developers pay a commission in ether for executing smart contracts.

5. Network nodes receive a reward in the form of ether for processing transactions and adding blocks to the blockchain.

It is important to note that Ethereum is constantly evolving and improving. Currently, a new version of the platform called Ethereum 2 .0 is being developed, which promises to improve the scalability, security,and energy efficiency of the network.

This is just the basic information about ethereum.To get more detailed information, it is recommended to study additional sources or contact specialists in this field.