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Ethereum is more than just a cryptocurrency; it's a revolutionary platform that has changed the way we think about blockchain technology and its applications. Unlike Bitcoin, Ethereum was designed to be more than a digital currency; it's a decentralized platform that enables developers to build and deploy smart contracts and decentralized applications (DApps). In this comprehensive guide, we will delve deep into the world of Ethereum and explore its many facets.
Smart Contracts: These are self-executing contracts with the terms of the agreement directly written into code. They are stored and replicated on the Ethereum blockchain and executed by the network of Ethereum nodes.
Decentralized Applications (DApps): These are applications that run on a peer-to-peer network of computers rather than a single computer. Ethereum's blockchain is a key component in enabling this decentralization.
Ether (ETH): This is the native cryptocurrency of the Ethereum network. It's used to compensate participating nodes for computations performed.
Gas: In Ethereum, gas refers to the computational effort required to execute operations, like transactions or smart contracts. Learn more about ETH Gas.