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Ethereum 101: What is Ethereum and What Can I Do with it?

Ethereum is a decentralized platform for applications that run exactly as programmed without any chance of fraud or third party interference.

Ethereum is used to build decentralized applications (dapps) on its platform. A dapp is an application that runs on a decentralized network.

Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.

What is a Smart Contract?

A smart contract is a computer protocol that facilitates, verifies, or enforces the negotiation or performance of a contract. Smart contracts allow the performance of credible transactions without third parties. These transactions are trackable and irreversible.

What is a Dapp?

A dapp is an application that runs on a decentralized network. Dapps are powered by Ethereum smart contracts.

What Can I Do with Ethereum?

Ethereum enables developers to build and deploy decentralized applications. With Ethereum, developers can create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middleman or counterparty risk.

What is Ether?

Ether is the native cryptocurrency of the Ethereum network. Ether is used to pay for transaction fees and computational services on the Ethereum network.

How Do I Get Ether?

You can buy Ether on a cryptocurrency exchange. You can also earn Ether by mining for it or receiving it as a reward for completing tasks on the Ethereum network.