0.1 Ethereum Basics
Introduction
The Ethereum blockchain is an open source and decentralized platform used to create Decentralized Applications, called “Dapps”, and Smart Contracts. Ethereum was built to run in absence of downtime, control from any centralized source, or third party interference.
Learning Objectives
    Understand the fundamentals of the Ethereum blockchain
    Read about the purposes of smart contracts and decentralized applications
Reading List
Key Points
    Decentralized Applications
      Runs on a network of computers instead of a single computer system, which means there is no central authority
      Are open source, meaning anyone has access to the codebase, and are built using the logic from Smart Contracts
    Smart Contracts
      A program which executes an agreement between two parties automatically without third party interference.
      Once a buyer and seller have entered into an agreement via smart contract, there is no longer counterparty risk or risk of a third party altering the agreement.
Review Questions
    What are the advantages and disadvantages of using a smart contract versus a traditional contract?
    Describe how a decentralized application functions.
    Can you imagine any shortfalls with Ethereum?
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