Ethereum<\/b>\u00a0is an\u00a0open-source,\u00a0public,\u00a0blockchain-based\u00a0distributed computing\u00a0platform and\u00a0operating system\u00a0featuring\u00a0smart contract\u00a0(scripting) functionality. It supports a modified version of\u00a0Nakamoto\u00a0consensus via transaction-based state transitions.<\/p>\n
Ether<\/b>\u00a0is a token whose blockchain is generated by the Ethereum platform. Ether can be transferred between accounts and used to compensate participant mining nodes for computations performed. Ethereum provides a decentralized\u00a0virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. The virtual machine’s\u00a0instruction set, in contrast to others like\u00a0Bitcoin\u00a0Script, is thought to be\u00a0Turing-complete. “Gas”, an internal transaction pricing mechanism, is used to mitigate\u00a0spam\u00a0and allocate resources on the network.<\/p>\n
Ethereum was proposed in late 2013 by\u00a0Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online\u00a0crowdsale\u00a0that took place between July and August 2014.\u00a0The system then went live on 30 July 2015, with 72 million coins “premined”. This accounts for about 68 percent of the total circulating supply in 2019.<\/p>\n
In 2016, as a result of the exploitation of a flaw in\u00a0The DAO\u00a0project’s\u00a0smart contract\u00a0software, and subsequent theft of $50 million worth of ether, Ethereum was split into two separate blockchains\u00a0\u2013 the new separate version became Ethereum (ETH) with the theft reversed, and the original continued as\u00a0Ethereum Classic\u00a0(ETC).<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum<\/b>\u00a0is an\u00a0open-source,\u00a0public,\u00a0blockchain-based\u00a0distributed computing\u00a0platform and\u00a0operating system\u00a0featuring\u00a0smart contract\u00a0(scripting) functionality. It supports a modified version of\u00a0Nakamoto\u00a0consensus via transaction-based state transitions. … <\/p>\n