Ethereum (ETH) is not just a cryptocurrency but also a powerful decentralized platform. Created by Vitalik Buterin, ETH launched in 2015 and quickly became the second-largest cryptocurrency by market capitalization. A highlight of Ethereum is its ability to support smart contracts, allowing decentralized applications (dApps) and decentralized autonomous organizations (DAOs) to operate without a third party.
ETH is used to pay transaction fees (gas) on the Ethereum network, powering activities from NFTs to decentralized finance (DeFi). Recently, Ethereum transitioned from a Proof-of-Work mechanism to Proof-of-Stake (The Merge), promising to significantly reduce energy consumption and improve scalability. The continuous development and vast ecosystem of Ethereum position ETH as a digital asset with significant potential in the future of blockchain technology.
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