Crypto Fast Facts: EthereumEthereum is an open-source, public, blockchain-based distributed computing platform and operating system featuring smart contract (scripting) functionality. It supports a modified version of Nakamoto consensus via transaction-based state transitions. Ethereum provides a decentralized virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. Ethereum also provides a cryptocurrency token called “ether”, which can be transferred between accounts and used to compensate participant nodes for computations performed.
Five Cryptocurrency Terms
- More scalability: Binance Smart Chain is more scalable than Ethereum, allowing for more transactions to be processed at once.
- More interoperability: Binance Smart Chain is more interoperable than Ethereum, allowing for more seamless integration with other blockchains.
- More privacy: Binance Smart Chain offers more privacy than Ethereum, as it uses a different consensus mechanism and is more resistant to attacks.
- More flexibility: Binance Smart Chain is more flexible than Ethereum, allowing developers to create more complex applications.
- More efficient: Binance Smart Chain is more efficient than Ethereum, as it uses a different consensus mechanism and is more resistant to attacks.