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This Changes Everything: Inflation is About to Get Out of ControlHow does ether work? Ether, like other cryptocurrencies, uses a shared digital ledger where all ether transactions are recorded. It is publically accessible. Ethereum is a blockchain-based network that aims to make it easier to create applications that aren't managed or controlled by one entity. Ethereum is a decentralized blockchain platform that establishes a peer-to-peer network that securely executes and verifies application code, called smart.