What is ethereum?

Ethereum is the platform for creating decentralized online services on the basis of the blockbuster (Đapps, Decentralized applications, decentralized applications), based on the work of which are smart contracts. Implemented as a single decentralized virtual machine. Was proposed by the founder of Bitcoin Magazine by Vitalik Buterin at the end of 2013, the network was launched on July 30, 2015.

As an open source platform, Ethereum greatly simplifies the implementation of blocking technology, which explains the interest not only from new start-ups, but also from the largest software developers such as Microsoft, IBM and Acronis. A notable interest to the platform is also shown by financial companies.

Exchange units Ethereum is called ether (English ether). For the notation, the abbreviation ETH and the symbol in the form Ξ (the Greek letter Xi) are used. Fractional parts have their names: 1/1000 – finney, 1/106 – szabo, 1/1018 – wei.

Unlike other crypto-currency projects, the authors do not limit the role of the ether by payments, but offer it, for example, as a means for exchanging resources or registering transactions with assets through smart contracts, in particular, the authors called the air “cryptoprim” for the performance of clever contracts by a peer-to-peer network . The ether is sold on the exchange services, and the capitalization of the total number of broadcasts exceeded thirty billion dollars.