What is Ethereum and how does it work?

Ethereum is a technology that lets you send cryptocurrency to anyone for a small fee. It also powers applications that everyone can use and no one can take down. It's the world's programmable blockchain. Ethereum builds on Bitcoin's innovation, with some big differences. Both let you use digital money without payment providers or banks.

What is proof of work (POW) in Ethereum?

Currently, Ethereum uses the Proof of work (PoW) system- this has been the arm supporting blockchain technologies like bitcoin and Ethereum. Proof-of-work refers to the solving of complex equations, which is a basic requirement for a miner to clear for their block to be added to the blockchain.

What are the most popular Ethereum innovations?

Popular Ethereum-based innovations include stablecoins (like DAI, which has its value pegged to the dollar by smart contract), decentralized finance apps (collectively known as DeFi), and other decentralized apps (or Dapps). What’s the difference between Ethereum, Ether, and ETH?

Who were the original developers of Ethereum?

A: The original Ethereum development team consisted of Vitalik Buterin, Mihai Alisie, Anthony Di Iorio, and Charles Hoskinson. 3) ⭐ Q: What is a Smart Contract?