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What are the key concepts and principles behind Ethereum?

avatarbusitema univessityApr 03, 2022 · 3 years ago1 answers

Can you explain the fundamental concepts and principles that underpin the Ethereum blockchain platform in detail?

What are the key concepts and principles behind Ethereum?
Ethereum
Blockchain
Smart Contracts

1 answers

  • avatarApr 03, 2022 · 3 years ago
    Ethereum, as a blockchain platform, is designed to be open, transparent, and decentralized. It allows developers to create and deploy smart contracts, which are self-executing agreements with predefined rules. These smart contracts run on the Ethereum Virtual Machine (EVM), a decentralized runtime environment. Ethereum's principles include consensus through proof-of-work (PoW), which ensures the security and integrity of the network. It also embraces the concept of openness, allowing anyone to participate in the network and contribute to its development. Ethereum's key concepts and principles form the foundation for a new era of decentralized applications and the democratization of finance.

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