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What is Ethereum? A Beginner's Explanation in Plain English

June 26, 2018 11:50 1661

EthereumEthereum (eth)2$ 4,309.390.16%1.47%-4.66%details was proposed in 2013 and brought to life in 2014 by Vitalik Buterin. Unlike the BitcoinBitcoin (btc)1$ 49,341.600.16%0.65%-12.22%details network which was designed for Bitcoin transactions only, Ethereum is a DIY platform for decentralized apps (or Dapps) Decentralized applications, or dApps, are software programs that have their backend code running on a distributed computer network. Decentralized applications, or dApps, are software programs that have their backend code running on a distributed computer network.Learn more that uses smart contracts. ‘Ether’ is Ethereum network’s currency and it is used for running Dapps.

0:34 Quick Bitcoin recap
1:27 Blockchain technology in a nutshell
3:30 What is Ethereum?
5:43 How Ethereum works
8:14 The DAO and the Ethereum fork
9:47 Ethereum as a currency
10:39 Ethereum’s ICO
11:09 Conclusion

Special thanks to Jimmy Song who’s post about Smart Contracts helped us a lot in creating this video: jimmysong.medium.com/the-truth-about-smart-contracts-ae825271811f

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