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Ethereum VF

Ethereum is an open-source blockchain platform that allows developers to build and deploy decentralized applications. It features a built-in programming language that makes developing applications easier. Ethereum launched in 2015 after an initial crowdsale in 2014 that raised funds in bitcoin. Major companies like IBM are now using Ethereum to power applications on its global decentralized computer.

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54 views1 page

Ethereum VF

Ethereum is an open-source blockchain platform that allows developers to build and deploy decentralized applications. It features a built-in programming language that makes developing applications easier. Ethereum launched in 2015 after an initial crowdsale in 2014 that raised funds in bitcoin. Major companies like IBM are now using Ethereum to power applications on its global decentralized computer.

Uploaded by

Savin Cristi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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BLOCKCHAIN

# B L O C K C H A I N

# E T H E R E U M

# B C # E T H E R

# E V M # S O L I D I T Y
EXPLAINER

Ethereum is an open source public blockchain-based computing


platform, featuring smart contract functionality.

Key Differentiations History


• The World Computer: Each network participant
uses a decentralized virtual machine, the Ethereum
Virtual Machine (EVM), that are used to run
distributed applications (Dapps).

• Programming Languages: Ethereum offers a


blockchain protocol with a built-in programming
language (bytecode) that allows any application to
be written on top and enables developers to • Origin: Ethereum was initially described in a white
innovate with far less effort and far more speed. paper by Vitalik Buterin, a programmer involved with
o Smart contracts for the EVM can be written in Bitcoin, in late 2013 with a goal of building
Solidity and LLL decentralized applications.

• Market Cap: In September 2017 (about two years • Establishment: The Ethereum Foundation was set up
since Ethereum launch) the market capitalization of as a Swiss non-profit in 2014. Development was
Ether peaked at US $36 billion, but is currently funded by an online public crowdsale during July –
valued at over US $20 billion. August 2014, where participants bought the Ethereum
value token (Ether) with bitcoin. Ethereum’s live
Firms using Ethereum blockchain was launched in July 2015.
(not comprehensive)

Firms Building with Ethereum • Hard Forks: These are radical changes to the
ethereum protocol that requires all users and nodes to
upgrade to the latest version of the protocol software.
As of January 2016, there have been four hard forks:
1st hard fork: upgraded Proof of Work consensus algorithm

2nd hard fork: first stable release of Ethereum protocol


IBM Competitors Using Ethereum
3rd hard fork: the DAO Hack, which forced the Ethereum
community to reverse the hack and return the DAO funds

4th hard fork: erased empty accounts that unknown


attackers used to bloat the ethereum blockchain, which
slowed down block and transaction processing

Sources: https://www.ethereum.org
https://coincenter.org/entry/what-is-ethereum
http://www.investopedia.com/articles/investing/022516/what-ethereum.asp?lgl=bnull-baseline-below-content

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