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Ethereum

Last updated Oct 9, 2021 Edit Source

Blockchain with a built-in Turing-complete programming language to allow individuals to write smart contracts and decentralized applications (dApps) which dictate their own rules around ownership, trasnaction formats, and state transition functions.

Ether (ETH) is the actual currency. All transactions (sending ETH, using a dApp, executing a smart contract) cost a gas fee to disincentivize bad actors from spamming.

Currently uses proof of work but soon to switch to proof of stake.

# Understanding

This feels like time-share all the way back in the day but decentralized and now on the global scale. Crazy

# dApps

Combine smart contracts (the backend) with a frontend user interface. Typically,