This note is a part of my Zettelkasten. What is below might not be complete or accurate. It is also likely to change often.

23rd July, 2020

Ethereum

Ethereum is a

Blockchain which can store data as well as execute Smart Contracts
One significant difference between Ethereum and Bitcoin is their record keeping method
- Bitcoin uses the Unspent Transaction Output Model or UTXO which means each bitcoin is composed of unspent coins left over from other transactions. These unspent coins are used in combination to make the transactions
- Ethereum keeps track only of the final balance.
Platform for Decentralized Applications
- Provides the Consensus Mechanism
- Powers the economic transactions using Ether
- Powers the Ethereum Virtual Machine