What is Ethereum ?

 What is Ethereum ?

What is Ethereum ?

From a computing perspective

Ethereum may be a deterministic but practically unbounded state machine,consisting of a globally accessible singleton state and a virtual machine that applies changes thereto state.

From a computer practical perspective

Ethereum is an open source, globally decentralized computing infrastructure that execute programs called smart contracts.It uses a block chain to synchronize and store the system’s state changes,along with a crypto currency called ether to meter and constrain execution resource costs.

Compared to Bitcoin

Ethereum shares a many common elements with other open block chains.

  1. A peer-to-peer network connecting participants
  2. A Byzantine fault—tolerant consensus algorithm for synchronization of state updates( a proof-of-work blockchain).
  3. The use of crypto graphic primitives like digital signatures and hashes.
  4. And a digital currency (Ether)
  5. Ethereum’s purpose isn’t primarily to be a digital currency payment network.
  6. While the digital currency ether is both integral to and necessary for the operation of Ethereum.
  7. Ether is meant as a utility currency to buy use of the Ethereum platform because the world computer.
  8. Bit coin features a very limited scripting language.
  9. Bitcoin’s script language is, intentionally,constrained to simple true/false evaluation of paying conditions.
  10. Ethereum is meant to be a general-purpose programmable blockchain that runs a virtual machine capable of executing code of arbitrary and unbounded complexity.
  11. Ethereum’s language is Turing complete,meaning that Ehereum can straight forwarding function as a general-purpose computer.

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