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Discussion on: Explain Ethereum like I'm five

kayis profile image

Assuming you already know bitcoin.

Ethereum is like Bitcoin, but more flexible, you can write full programs for it to automate money dependent things. The programs are called smart contracts and the can hold money like people or banks can. The money they work with are called Ether.

For example, You could write one that says, when two people paid 1000 into it wait a month and check how the weather was every day. After the month give one of them all the money if it was mostly warm and the other one if it rained much. Like a automatic insurance for farmers.