🌐 Ethereum: A Programmable Blockchain
Ethereum is more than just a cryptocurrency; it is an open-source decentralized blockchain platform that acts as a global programmable computer. Its native cryptocurrency, Ether (ETH), is the second-largest cryptocurrency by market capitalization, powering the entire network.
The fundamental innovation of Ethereum lies in the functionality of smart contracts. These contracts are self-executing, with the terms of the agreement directly written into the code. This capability allows developers to build and deploy decentralized applications (dApps), ranging from financial tools (DeFi) and games to supply chain tracking.
Ethereum is essential for transactions on the network, as users pay fees (known as "gas") to execute smart contracts and process transactions. The platform has transitioned to a proof-of-stake consensus mechanism (The Merge), significantly improving its energy consumption efficiency and paving the way for greater scalability. Ethereum serves as a foundational layer for the broader decentralized web, fostering innovation across various digital assets and services.
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