


The EVM can be thought of as a global decentralized computer containing millions of executable smart contracts. The Ethereum Virtual Machine is what makes the Ethereum blockchain unique. The Ethereum blockchain records the distribution of ownership of its native token, updates the distribution whenever transfers of its native token are made on the network, and helps the network synchronize its state amongst a heterogeneous network of nodes.Īlthough users can and do useEthereum, and it’s token, Ether, like money to store, transfer, and measure value, its highest and greatest utility comes from its use as payment for utilizing the Ethereum Computer, otherwise known as the Ethereum Virtual Machine. The goal of the Ethereum founders was to build infrastructure that allowed developers to build uncensorable applications also known as decentralized applications or dapps.Īt the foundation of the Ethereum network is its proof-of-work based blockchain and its native token Ether (ETH). The Ethereum network officially launched in the summer of 2015 with the help of fellow co-founders Gavin Wood and Joseph Lubin. The Ethereum white paper was published in late 2013 by Vitalik Buterin.

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