Ethereum is an open-source blockchain platform that was first launched in 2015. It was created by Vitalik Buterin and his team. It is not just a digital currency (called “ether” or ETH), but also a technology that supports “smart contracts.”
Smart contracts are automated agreements that are executed automatically, without any middleman. This allows developers to create decentralized applications (dApps), which can be used in areas such as banking, gaming, and social media.
A major update to Ethereum, “Ethereum 2.0,” is currently underway, with the aim of making it more environmentally friendly, faster, and cheaper. It now operates on a “proof-of-stake” system, which uses less energy than the previous “proof-of-work” system.