What Is Ethereum?

DWQA QuestionsCategory: BlockchainWhat Is Ethereum?
Editor Staff asked 1 month ago

What Is Ethereum?

1 Answers
Editor Staff answered 1 month ago

Ethereum is a decentralized system, just like bitcoin. It is completely decentralized, which means that there is no centralized authority controlling it.
It is developed by Vitalik Buterin and uses a different approach when compared to bitcoin. Just like bitcoin, digital payments can be made on the platform. It uses smart contracts to automate legal contracts within two peers.
dApp (decentralized apps) is an app that runs on Ethereum and use smart contracts to manage an organization or a specific part of the project. This is really one of the important interview questions on Ethereum.