Ethereum is a decentralized open-source blockchain platform that enables developers to build and deploy smart contracts and decentralized applications (DApps). Ethereum was launched by Vitalik Buterin and a group of co-founders in 2015, fundamentally transforming the blockchain space by introducing a platform that extends Bitcoin's functionality. While Bitcoin primarily serves as a digital currency, Ethereum allows users to create and execute programmable contracts without intermediaries.

Ethereum's native cryptocurrency, Ether (ETH), is used to pay for transaction fees and computational services on the network. The platform employs a proof-of-stake consensus mechanism, which was fully implemented in 2022 through Ethereum 2.0. This shift from proof-of-work has reduced energy consumption and improved scalability.

Ethereum's flexibility and widespread adoption make it the foundation for a variety of projects, from decentralized finance (DeFi) applications to non-fungible tokens (NFTs). The continuous evolution of Ethereum heralds further innovations aimed at making blockchain technology more accessible and impactful across multiple industries.