Ethereum revolutionised the concept of a blockchain platform for smart contracts. Smart contracts, representing programs which automatically execute an agreement between parties, were created to eliminate the necessity for trusted intermediaries between contractors. These promised to cut the cost of transactions and increase their reliability. According to Ethereum co-founder Gavin Wood, Ethereum's blockchain was designed as “one computer for the entire planet” with the aim to make any program censorship-resistant, less prone to fraud and more robust by running on a globally distributed network of public nodes. Besides smart contracts, Ethereum’s network is capable of hosting other cryptocurrencies through its ERC-20 compatibility standard. Over 280,000 ETC-20-compliant tokens were launched in 2020, including USDT, BNB and LINK.