Ethereum is a platform for creating decentralized online services based on blockbuster (Đapps, Decentralized applications, decentralized applications) that work on the basis of smart contracts. Implemented as a single decentralized virtual machine. Was proposed by the founder of Bitcoin Magazine by Vitalik Buterin at the end of 2013, the network was launched on July 30, 2015.
Ethereum technology makes it possible to register any transactions with any assets on the basis of a distributed base of contracts such as block, without resorting to traditional legal procedures. This possibility is competitive with respect to the existing transaction registration system. According to The Economist magazine, the technology of "smart contracts" marks a new era in financial technology!
Clever contracts in Ethereum are presented in the form of classes that can be implemented in different languages, including visual programming and compiled into the bytecode for the Ethereum Virtual Machine (EVM) before being sent to the blockroom. The change in the state of the virtual machine can be recorded in a full Turing scripting language.
Unlike the scripting language in the bitcoin protocol, EVM supports loops, so the platform uses a mechanism called gas to limit contracts that can take a long time to complete.
