Ethereum (ETH) Lommebok

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FAQ

What is Ethereum (ETH)?

Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, ETH. Ethereum is a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime and fraud. ETH works as a platform for numerous other cryptocurrencies and digital assets, as well as for the execution of decentralized smart contracts. Ethereum is the original home of decentralized finance (DeFi) and non-fungible tokens (NFTs).

How does Ethereum work?

Ethereum created and uses generalized smart contracts. A generalized smart contract is a computer program that is stored and runs on a decentralized trustless network. On Ethereum, all transactions and all smart contract actions require a fee to be paid. This fee is called Gas on Ethereum. The more complex an action, the more gas must be paid. Gas fees are paid in ETH.

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