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Ethereum is a decentralized blockchain with smart contract functionality. Ether is the platform’s native cryptocurrency. Among cryptocurrencies, Ether is the second largest in market capitalization after Bitcoin. [This is open-source software.

Ethereum was created in 2013 by programmer Vitalik Buterin.[4] Other founders of Ethereum were Gavin Wood, Charles Hoskinson, Anthony Di Iorio, and Joseph Lubin. Development and crowdfunding began in 2014, and the network went live on July 30, 2015.

Ethereum allows anyone to deploy persistent and immutable decentralized applications on it for users to interact with. Decentralized finance applications (DeFi) provide financial instruments not directly dependent on financial intermediaries such as brokers, exchanges, or banks. This makes borrowing or borrowing at interest on your cryptocurrencies more accessible.

Ether

Ether (ETH) is a cryptocurrency generated according to the Ethereum protocol as a reward for validators of the Proof-of-Stake system for adding blocks to the blockchain. It is represented in the state as an unsigned integer associated with each account and equal to the account’s ETH balance in Wei (1018 Wei = 1 Ether).

At the end of each epoch, new ETH is generated by adding the amounts specified in the log to the balances of all validators for that epoch, with block proponents receiving the largest share. Additionally, Ether is the only currency the protocol accepts as payment for transaction fees. The transaction fee consists of the basic fee and the tip. The base price is “burned” (taken from life), and the information goes to the blocker.

Contract Source Code

Ethereum smart contracts are written in high-level programming languages, then compiled into EVM bytecode and deployed on the Ethereum blockchain. They can be written in Solidity (a language library similar to C and JavaScript), Serpent (similar to Python but deprecated), Yul (an intermediate language that can be compiled on different backends – EVM 1.0, EVM 1.5 and eWASM are planned). LLL (a low-level language similar to Lisp) and Mutan (based on Go but deprecated).

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