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14 August, 2017
This system is called the Ethereum Virtual Machine (EVM), or colloquially, the “world computer.” Code is run publicly, but users are pseudonymous. It’s like Amazon Web Services, except instead of Amazon as the seller and users as the buyer, users can play either role. No individual controls the system. That makes Ethereum something genuinely new—something unprecedented. Decentralized apps, or DApps, are programs that run on the world computer. “Run,” however, might not be the right word, because Ethereum-the-computer is dreadfully slow
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