 TITLE: What Is Ethereum and How Does It Work? CONTENT: Ethereum uses a public blockchain network to power its platform. It's sometimes referred to as a global supercomputer, which can be a helpful way to think about the platform. The technology allows computers from all over the world to work together to power Ethereum.\nBitcoin and other cryptocurrencies use the same decentralized blockchain technology. However, Bitcoin's blockchain is mostly used to track transactions and account balances, which it does with a digital ledger. Ethereum builds on this idea and lets people create and run programs on its network.\nHere are a few key terms and concepts that are important for understanding how Ethereum works:\n*   **Ethereum miners**: Ethereum is powered by \"miners\" who set up their computers to perform complex math that powers and secures the network. The miners receive Ether for the use of their computer's processing power.\n*   **Gas costs**: Gas refers to how much you have to pay a miner to add information to the Ethereum blockchain. Paying more can result in your transaction being processed faster.\n*   **Ether**: Ether is Ethereum's primary and native cryptocurrency. There are other cryptocurrencies built on the Ethereum platform, but miners are paid in Ether.\n*   **Decentralized apps**: The apps that are built on the Ethereum network are called decentralized apps (dapps) because they aren't run by a single entity.\n*   **Smart contracts**: A smart contract isn't necessarily a contract in the legal sense. Instead, it's the name for programs that are stored and run on the Ethereum blockchain. People can create and upload new smart contracts to Ethereum or build new dapps using existing smart contracts.\n*   **Ethereum Virtual Machine**: The Ethereum Virtual Machine (EVM) is the environment that stores and executes smart contracts.\nEthereum is also undergoing an upgrade to Ethereum 2.0, or Eth2. The new system will attempt to address concerns about the current platform's slow network speeds, high gas fees and energy usage. END