Ethereum is a decentralized, open-source blockchain platform that enables developers to build and deploy smart contracts and decentralized applications (DApps). Launched in 2015, Ethereum introduced a revolutionary way to create secure, transparent, and self-executing digital agreements without intermediaries.
Key Features of Ethereum
- Smart Contracts:
Ethereum pioneered smart contracts—self-executing agreements with predefined rules written in code. These contracts automate transactions and processes, reducing the need for third parties.
- Decentralized Applications (DApps):
Ethereum powers thousands of DApps across various sectors, including finance, gaming, supply chain, and healthcare. These applications run on the Ethereum blockchain, ensuring transparency and reliability.
- Ether (ETH):
Ether is the native cryptocurrency of the Ethereum platform. It serves as a medium for transactions and as fuel for executing smart contracts.
- Ethereum Virtual Machine (EVM):
The EVM is a powerful runtime environment that processes transactions and executes smart contracts. It enables developers to write decentralized code in programming languages like Solidity.