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  1. Jun 2019
    1. EthereumEthereum is a distributed computer; each node in the network executes some bytecode (hint: Smart Contracts), and then stores the resulting state in a blockchain. Due to the properties of the blockchain representing application state, this results in “applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference”.

      This is a decent little explanation for how smart contracts execute on blockchains. Author missed in "Due to the properties of the blockchain" to say that all nodes must also come to consensus about how the code was executed and therefore "applications that run exactly...". We will later discuss deterministic code execution in relation to this