The history of all these smart contracts is stored in the Ethereum blockchain. The structure of the
The history of all these smart contracts is stored in the Ethereum blockchain. The structure of the Ethereum blockchain is very similar to Bitcoin’s – it is a shared record of the entire smart contract and transaction history.Hundreds of volunteers from around the world store a copy of the complete Ethereum blockchain, which is quite long. This is one feature that makes Ethereum decentralized. Each of these is called a “node” in Ethereum’s network. Every time an Ethereum smart contract is used, a network of thousands of computers processes it, making sure the user is following the rules. All of these nodes are connected. In addition to storing this data, each Ethereum node follows the same set of rules for accepting transactions and running smart contracts. In contrast to Bitcoin, Ethereum nodes store more than just transaction details. The network needs to keep track of the “state” – or the current information – of all of these applications, including each user’s balance, all the smart contract code, where it’s all stored, and any changes that are made. -- source link
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