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What is Ethereum?
Ethereum was initially proposed by Vitalik Buterin in 2013 and later launched in 2014 through an ICO. It is an open-source, decentralized blockchain and is more technologically sophisticated than Bitcoin. Smart contracts and decentralized applications are the core features that set them apart. While smart contracts automatically process the transactions when the coded conditions are met, decentralized apps eliminate the need for third parties.
Ethereum is often hailed as the first in the second generation of the blockchain. It gave the breakthrough in the blockchain and opened up new opportunities by allowing projects to build on the network. Ether is the native cryptocurrency of Ethereum blockchain and is issued through mining.
ETH fuels the Ethereum network and enables the developers to develop and host applications and smart contracts. ETH is the second most popular cryptocurrency just after the Bitcoin. Ether is also used as a means of payment by merchants across the world.
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