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What chain does Ethereum belong to?

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Apr 23, 2024 am 11:37 AM

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Ethereum is a public chain with the following characteristics: Open and permissionless: Anyone can participate and use it without permission. Decentralization: The network is maintained by distributed nodes with no single control. Transparent and auditable: All transactions are recorded on the public ledger and can be viewed and verified at any time. Supports smart contracts: programs stored on the blockchain that automatically perform operations when conditions are met. Suitable for developing decentralized applications (dApps): transparent, trustworthy and not controlled by a single entity.

What chain does Ethereum belong to?

What chain does Ethereum belong to?

Ethereum is a public chain.

Public chain refers to:

Open and permission-free: Anyone can participate and use the network without any organization permission.
Decentralization: The network is verified and maintained by nodes distributed around the world, with no single entity controlling it.
Transparent and auditable: All transactions are recorded on the public blockchain ledger and can be viewed and verified at any time.

Unlike private chains (which are restricted to specific organizations), public chains provide developers with the infrastructure they need to build applications and services. Ethereum is one such public chain, known for its support for the execution of smart contracts.

Smart contracts on Ethereum are computer programs stored on the blockchain that automatically perform actions when predefined conditions are met. This makes Ethereum an ideal platform for developing decentralized applications (dApps) that can be transparent, trustworthy, and not controlled by any single entity.

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