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What do you need to know about Ethereum?

Here’s what you need to know: What is Ethereum? Ethereum is a platform for exchanging digital currency that has no physical counterpart. The currency unit on the Ethereum platform is called an ether (ETH). Ethereum operates on the blockchain, which is a decentralized ledger that records all crypto transactions.

What happened to Ethereum?

One notable event in Ethereum’s history is the hard fork, or split, of Ethereum and Ethereum Classic. In 2016, a group of network participants gained majority control of the Ethereum blockchain to steal more than $50 million worth of ether, which had been raised for a project called The DAO.

Is Ethereum a smart contract?

Ethereum's aforementioned capability to facilitate smart contracts and DApps is its defining distinction. While Bitcoin does offer a form of smart contract functionality, Ethereum's is more flexible and generalized, allowing for an array of applications, from games to DeFi platforms, to be built atop its platform.

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