Ethereum is an Open Source Blockchain platform which allows anyone to develop and deploy Blockchain based Applications. Any kind of application including cryptocurrency, tokens, wallets, social apps etc. can be developed and deployed in a Distributed Environment of Ethereum.
How to be the part of Ethereum?
There is two type of users in a typical Ethereum blockchain. The one who issues a DApp (or a smart contract) and others who participates in the contract. Ethereum blockchain that extended the scope of decentralized application and popularized the word DApp. DApp uses the shared ledger instead of a server to record and store all the transactions.
In Ethereum, these backend codes will contain the smart contract and the front end will provide a user interface for the user to interact with the blockchain. Some examples of Ethereum DApp:- Green Ether Project, splitcoin, The immortals
Components of Ethereum
- Smart contracts : Smart contracts are the nerves of Ethereum blockchain framework. All the operations in Ethereum are controlled with smart contracts.
- Ether : Ether is the cryptocurrency of Ethereum network, and it is the backbone of transactions in Ethereum.
- Ethereum Clients : Ethereum Clients are the tools used to connect to the Ethereum blockchain for developmental or mining purposes.
- EVM : The EVM is the engine behind the whole Ethereum blockchain. Smart contracts are run on the Ethereum Virtual Machine (EVM) - the decentralized, consensus-driven computer which distinguishes Ethereum from earlier Blockchains.
- Etherscripter : Etherscripter is a visual smart contract builder tool in Ethereum. It provides a GUI for creating smart contracts in simple steps.