Ethereum is a global decentralized open source computing platform with its core lies in supporting smart contracts and decentralized applications (DApps). 1. It is automatically executed through smart contracts without trusting third parties; 2. Transparent records of on-chain data, covering multiple fields such as finance, games, art, etc. 3. ETH prices can obtain real-time and historical data on mainstream exchanges, and comprehensive multi-market quotations reflect the real market; 4. Users can interact conveniently on the PC or mobile terminal through Qianbao, with intuitive operations and support multi-language and fiat currency denomination; 5. The main application scenarios include DeFi and NFT, respectively, promoting the development of unintermediated financial markets and digital asset rights confirmation.

What is the real Ethereum

Many people equate Ethereum with its cryptocurrency "Ether" (ETH), but that's just the tip of the iceberg. Ethereum is essentially a global, decentralized open source computing platform . You can think of it as a "world computer" composed of thousands of computers around the world, which is not controlled by any single entity and never stops. Its core innovation is the introduction of "smart contracts" that enable developers to build and run various decentralized applications (DApps) on it.

Ethereum’s value and data source

1. Real-time and historical data
The price of Ethereum's native token ETH is determined by supply and demand in the global market. You can get the real-time prices of their second-level updates from major mainstream exchanges, such as OEX, Binance, Huobi HTX, Damen Gate.io , etc. At the same time, these platforms also provide complete historical data, including daily, weekly, and monthly charts, and support the analysis of technical indicators such as MACD and RSI.

2. Multi-market coverage and data authoritativeness
Ethereum's market data covers major cryptocurrency markets around the world. Its price data is usually a weighted average of quotes from multiple exchanges to reflect the most realistic market conditions. For macroeconomic correlation analysis, industry observers will also refer to relevant economic reports released by authoritative data sources such as Reuters and Bloomberg .

How Ethereum works: Core mechanisms

1. Smart contracts and automatic execution
Smart contracts are a piece of code stored on the Ethereum blockchain, which is like a vending machine. Once the preset conditions are met, the contract code will be automatically executed without any manual intervention or trusting third parties. For example, an insurance contract can automatically pay compensation to the policyholder after receiving authoritative data on flight delays.

2. On-chain data and application ecosystem
Ethereum runs thousands of applications, covering finance, games, art and other fields. All transactions and state changes generated by these applications are recorded publicly and transparently on the blockchain. These on-chain data, such as the hash rate of Bitcoin or the total lock-in value (TVL) of a DeFi protocol, provide a completely new dimension for market analysis.

How to interact with Ethereum: User Experience

1. Multi-terminal support
Users interact with the Ethereum network through "Qianbao". These Qianbao applications support a wide range of devices, including desktop software on the PC, web browser plug-in, and mobile APPs that are adapted to various mobile phones and systems, ensuring that users can manage assets and use DApps anytime, anywhere.

2. Personalized and intuitive operation
There are hundreds of kinds of sacs on the market to choose from, and users can personalize the settings according to their own safety preferences and functional needs. Whether it is sending ETH or interacting with DApps, the operation process is designed to be very intuitive and usually only takes a few clicks, which greatly reduces the threshold for use.

3. International support
As a global platform, mainstream Ethereum banana and applications support multilingual interfaces, and allow users to denominate and display asset value in various legal currencies such as US dollars, euros, and money, providing convenience for global users.

Practical application scenarios of Ethereum

1. Decentralized Finance (DeFi)
This is the most successful application area of Ethereum. It is like a global financial market without intermediaries such as banks and securities firms. Users can freely engage in lending, trading, financial management and other activities. All rules are executed by code (smart contract) and assets are controlled by the user themselves.

2. Non-fungible tokens (NFTs)
NFTs bring the concept of "ownership" to the digital world. Whether it is digital artwork, game props, music copyrights or event tickets, it can be cast into a unique NFT for transactions and verification on Ethereum. This opens up a whole new market for the creator economy and digital collections.

The above is the detailed content of What is Ethereum and its operating guide, understand Ethereum at once. For more information, please follow other related articles on the PHP Chinese website!