Ethereum

Ethereum is a decentralized, open-source blockchain platform that enables developers to build and deploy smart contracts and decentralized applications (dApps). Launched in 2015 by Vitalik Buterin and others, Ethereum operates using its cryptocurrency called Ether (ETH). Unlike Bitcoin, which primarily functions as a digital currency, Ethereum’s primary focus is on its programmability, allowing developers to create applications that run exactly as programmed without any possibility of downtime, fraud, control, or interference from a third party. Ethereum’s blockchain maintains a distributed ledger of all transactions, making it secure and transparent. The platform utilizes a consensus mechanism through which participants validate and verify transactions, with ongoing developments, such as the transition from a proof-of-work to a proof-of-stake mechanism in Ethereum 2.0, aimed at improving scalability and sustainability. Ethereum has become a foundation for various innovations, including decentralized finance (DeFi) and non-fungible tokens (NFTs), significantly influencing the landscape of blockchain technology and cryptocurrency.