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This page details Ethereum main features
Ethereum is a decentralized, open-source and public blockchain that allows for the creation of new digital assets, or tokens, and the execution of decentralized applications (dApps) and smart contracts.
Ethereum has several modular components that work together to form the overall Ethereum ecosystem. These include:
- The Ethereum Blockchain, which is the underlying technology that enables the creation and execution of smart contracts and decentralized applications on the Ethereum network. The blockchain is a decentralized, distributed ledger that stores all transactions and smart contract execution data.
- The Ethereum Virtual Machine (EVM), which is a virtual machine that executes smart contracts and dApps on the Ethereum network. The EVM is responsible for executing the code of smart contracts and dApps, and it ensures that all participants in the network can access and execute the code in a consistent and secure manner.
- Ether (ETH): This is the native cryptocurrency of the Ethereum network, and it is used to pay for the execution of smart contracts and dApps on the network.
- ERC-20 Tokens: These are digital assets that can be created on the Ethereum network, and they are used to represent various assets such as utility tokens, security tokens, and other forms of digital assets.
- The Ethereum Wallet: This is a software application that allows users to manage their Ethereum accounts, send and receive Ether, and interact with smart contracts and dApps on the Ethereum network.
- The Ethereum Network: This is the network of nodes that run the Ethereum blockchain and execute smart contracts and dApps. The network is decentralized, meaning that no single entity controls it, and it is maintained by a community of developers and users.
All these components work together to provide a comprehensive and powerful blockchain platform that enables the creation and execution of decentralized applications and smart contracts.