Emerging Technologies | Computing & Software

Ethereum

Background


Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum is used to build decentralized applications (dapps) on its platform. The advantage of using Ethereum over other dapp platforms is that it allows developers to create dapps that can interact with each other. This means that dapps on Ethereum can share data and common functionality, which makes them more powerful and useful than dapps on other platforms. Ethereum has its own cryptocurrency, called ether. Ether is used to pay for transaction fees and gas, which is a unit of measure used to calculate the amount of computing power required to execute a transaction.

Some of the emerging trends in Ethereum include the use of smart contracts, the development of decentralized applications (dApps), and the use of blockchain technology to create a more secure and efficient internet.

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