#80: Ethereum: a distributed virtual machine for exchanging money and bored apes

Ethereum is a network of computers with no central trusted authority. They achieve consensus by running computation-intensive algorithm, known as proof-of-work. The agreed state is added to an append only ledger, known as blockchain. Yes, Ethereum is yet another blockchain. And it’s used to track transactions in a cryptocurrency, known as Ether. However, unlike Bitcoin, it’s much more than a simple log. Bitcoin accounts simply hold currency. Ethereum accounts can run programs as well. Ethereum network is actually one, huge computer! Read more: https://nurkiewicz.com/80 Get the new episode straight to your mailbox: https://nurkiewicz.com/newsletter