Ethereum is a decentralized blockchain platform that enables developers to build and run applications without relying on a central authority. Launched in 2015 by Vitalik Buterin and a team of developers, Ethereum introduced the concept of smart contracts—self-executing programs that automatically run when predefined conditions are met.
Unlike Bitcoin, which is mainly designed as a digital currency, Ethereum is a programmable blockchain. This means it supports a wide range of applications, including decentralized finance (DeFi), non-fungible tokens (NFTs), decentralized exchanges, and blockchain-based games. Ether (ETH) is Ethereum’s native cryptocurrency and is used to pay transaction fees and computational costs on the network.
In 2022, Ethereum transitioned from a Proof of Work (PoW) system to Proof of Stake (PoS) in an upgrade known as The Merge. This change significantly reduced energy consumption and improved network efficiency. Today, Ethereum is one of the most widely used blockchain platforms, playing a key role in the growth of Web3 and the decentralized internet.
