What is Ethereum?
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Written by Busha Support
Updated over a week ago

Ethereum is a decentralized blockchain technology that was founded in 2014 by Vitalik Buterin. It has some similarities with Bitcoin such as being open-source and is not operated from a single location. Basically, it can be operated by anyone from anywhere around the world.

But unlike Bitcoin, Ethereum was not created to act as a form of currency but to allow smart contract transactions without needing a middleman. Smart contracts are computer codes that facilitate the trading of anything that has a value such as property without the fear of fraud or system downtime. These codes will run exactly the same way every time it is run as long as the codes are not changed. 

Ethereum is made up of codes that run on the blockchain network therefore they do not belong to a single entity. Because Ethereum uses a decentralized network, messages are sent to a network of users on the blockchain all over the world. 

The virtual currency unit that is exchanged or received as a reward for carrying out transactions is a digital asset called ether.

You can learn more about Ethereum on Busha's learning hub: learn.busha.co

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