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Questions and Answers
What was Ethereum primarily intended to be?
What was Ethereum primarily intended to be?
- A blockchain software platform (correct)
- A currency to compete with Bitcoin
- An official wallet
- A popular library alternative
What is a notable innovation of Ethereum?
What is a notable innovation of Ethereum?
- Popular library alternative
- Alternative to Bitcoin
- Self-executing smart contracts (correct)
- Official wallet
What happened in 2016 that impacted Ethereum?
What happened in 2016 that impacted Ethereum?
- Part of the community rejected a change and created Ethereum Classic (correct)
- It was accessed through several wallets
- It became a popular library alternative
- It became the most popular cryptocurrency
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Study Notes
Ethereum Overview
- Ethereum was primarily intended to be a decentralized platform for building decentralized applications (dApps)
- Notable innovation of Ethereum: The introduction of smart contracts, which enable self-executing contracts with specific rules and regulations
The DAO Hack
- In 2016, the DAO (Decentralized Autonomous Organization) was hacked, resulting in the theft of approximately 3.6 million Ether, worth around $50 million at the time
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