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There's not really that much to understand about block chains... It's a globally shared immutable linked list... Umm... I'm pretty sure programs still execute

• drcode 11y ago
  In ethereum, there is no reason a single contract (i.e. "program") ever needs to exist on a single computer for the lifetime of its execution, parts of it could run on different computers, and will actually run on many computers at once. That's what I mean by running "as a protocol" and not on hardware... it's a higher level of abstraction.