$ETH Ethereum is an open-ended, decentralized, blockchain-based, public software platform that facilitates peer-to-peer contracts, known as Smart Contracts, as well as Decentralized Applications, known as DApps.

Smart contracts allow users to exchange value without requiring an intermediary. Smart contracts are agreements with defined terms and protocols in place to enforce them.

But unlike traditional contracts, written in human languages and enforced by courts of law, smart contracts are written in code that a computer can execute, which eliminates ambiguity.

The Ethereum network acts as a single decentralized computer that runs the smart contract code. This means that all computers participating in the Ethereum network will come to consensus on the outcome of each smart contract.

Traditional software applications often rely on central authorities to store data and perform operations on that data. This requires trust in the central authority.

DApps can make use of smart contracts on the Ethereum network to achieve decentralization. Smart contracts can store data. The Ethereum network enforces that all operations on the data happen according to the smart contract code. In other words, the data maintains its integrity without a central trusted party.