Creation of Ethereum
Ethereum was created in 2015 by Vitalik Buterin. It was created in order to offer a virtual and free blockchain platform and to operate more powerful Dapps (decentralized applications) thanks to the arrival of “smart contracts”.
Ethereum is the second most important cryptocurrency and acts independently of banks or even governments. As a matter of fact, Ethereum is open-source, this means that everything is accessible to the public, that everything is developed in a collaborative way, everyone contributes at their level.
For this, it can include security programs or payment methods specific to Ethereum. It is a popular way of investing and storing wealth. Despite its transparency and the fact that the Ethereum blockchain is accessible to everyone, it is very difficult to modify it.
Ether is the name of the cryptocurrency used on Ethereum. Ether is essential to use Ethereum. All transactions made with ether are recorded on its database.
Ethereum is a blockchain created through the mining process.
How does ethereum work?
The ethereum blockchain resembles that of bitcoin.
Developing in the language: Solidity, this allows developers to program the ethereum blockchain by automating and allowing to manage particular results.
The software is called “smart contracts”.
What is the difference between Ether and Ethereum?
Ether is the currency of ethereum. It is a cryptocurrency token that can be used to pay on the platform.
What is an EVM ?
The acronym EVM means Ethereum Virtual Machine, it allows the distribution of the Ethereum blockchain between all the different bonds and maintains the consensus.
Thus, the whole network is updated with new transactions and interactions added in the last blocks.
When a smart contract runs on Ethereum, it is executed by the Ethereum Virtual Machine thanks to the Solidity code.
There are two read modes:
– Alone: only a user sends a request to any node in the network and the EVM in that network will process the node
– Write: users send transactions that are fetched by the Ethereum network
Who created the EVM?
It was in 2015 in the yellow book that the concept of EVM appeared thanks to the co-founder of Ethereum and CTO of the Ethereum Foundation, Gavin Wood.
In 2016, Wood left Ethereum to focus on a new project: Polkadot.
Which blockchain(s) is the EVM compatible with?
Binance Smart Chain, Polygon, Cardano, etc.