Ethereum is more than just a digital currency; it is a decentralized computing platform built on blockchain technology that allows developers to create and run decentralized applications (dApps) and smart contracts. While the native cryptocurrency of Ethereum is known as 'Ether' (ETH), Ethereum as a platform offers capabilities far beyond just financial transactions.
So, what are these additional capabilities?
Smart Contracts: $ETH
Smart contracts allow users to execute secure and reliable digital agreements without the need for intermediaries [1, 4].
Decentralized Applications (dApps):
Developers can build and run a variety of decentralized applications on Ethereum, such as decentralized finance (DeFi) applications, blockchain games, decentralized social media platforms, and more [1, 2].
Decentralization:
Decentralization means that the system is not under the control of any single entity, making it more resistant to censorship and interference [1, 2].
Security:
Ethereum relies on a robust consensus mechanism to protect the network and ensure the security of transactions and data.
Transparency:
All transactions and operations on Ethereum are recorded on the blockchain, making them transparent and auditable.
In summary, Ethereum is a powerful platform that opens the door to a wide range of decentralized applications and innovations, making it more than just a digital currency.
