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- r/ethereum
- Bitcoin analysis mostly ‘noise,’ a $70K breakout is what mattersCointelegraph.com News – 53 minutes agoAnother Bitcoin break above $70,000 will be a significant signal for traders but until it happens, analysis is “pretty futile,” according to Mati Greenspan. Bitcoin…
- Reddit shares jump after-hours on OpenAI data-sharing dealCointelegraph.com News – 1 hour agoReddit said the deal allows OpenAI’s tools to “better understand and showcase Reddit content” and sees the AI firm back new features on the social…
- Altcoins a ‘relatively huge’ risk as days of big returns are gone, say analystsCointelegraph.com News – 4 hours agoAltcoins have “tactical opportunities” but not the massive gains seen in previous cycles, says 10xResearch head of research Markus Thielen. The high-risk, high-reward theory of…
- DTCC, Chainlink complete fund data tokenization pilot with U.S. banksCointelegraph.com News – 5 hours agoThe pilot program tested a method of bringing traditional finance fund data onto blockchains with big banks JPMorgan and BNY Mellon also involved. The world’s…
- Memecoin launcher pump.fun claims ex-employee behind $1.9M exploitCointelegraph.com News – 6 hours agoPump.fun said its smart contracts are safe and impacted users will receive “100% of the liquidity” that it previously had within the next 24 hours.…
What is Ethereum?
Ethereum is a decentralized operating system. The platform introduced, in practice, the concept of “decentralized applications”. Its founder, Vitalik Buterin, has been engaged in the development of blockchain and Bitcoin since its inception.
Today, several cryptocurrencies are issued in ICOs using Ethereum. These tokens are called ERC-20, and they are the foundation for running scripts in the Ethereum Virtual Machine. Through the development of “smart contracts”, Ethereum made it possible to sign tokens that have a specific function besides being a medium of exchange and broadened the capabilities of blockchain “transactions”.
Its key cryptocurrency is the Ether, which is usually used for payments in smart contracts or dApps. In addition, Ethereum is also fueled with GAS, a cryptocurrency associated with operations that require some kind of computation from its nodes. The GAS price is proportional to the type of the computational power required execute a task. Therefore, a fee in GAS is included to pay for the nodes running or authenticating a transaction.
Originally, Ethereum used proof-of-work to reach consensus. The Casper protocol, however, gradually shifted Ethereum consensus from PoW to a custom proof-of-stake protocol.