What is Ethereum ($ETH )? ๐ง ๐ฐ
Ethereum ($ETH ) is an open-source blockchain platform that enables the creation and execution of smart contracts ๐ค. It is the second-largest cryptocurrency after Bitcoin and serves as the foundation for many other tokens and decentralized applications (dApps) ๐.
One of Ethereumโs biggest strengths is its decentralized nature โ there's no central authority controlling it. It powers major innovations like DeFi (Decentralized Finance) ๐ฆ, NFTs (Non-Fungible Tokens) ๐จ, and even virtual worlds in the metaverse ๐.
Recently, Ethereum has transitioned to a Proof-of-Stake (PoS) system, which significantly reduces energy usage โก๐ฑ. This move has attracted even more investors and developers to the ecosystem ๐.