$ETH is a decentralized platform based on blockchain technology launched in 2015 by Vitalik Buterin and a team of developers. Unlike Bitcoin, which was designed primarily as a digital means of payment, Ethereum is a versatile platform that makes it possible to execute so-called smart contracts and decentralized applications (DApps).
Basics of $ETH
Ethereum uses its own cryptocurrency called Ether (ETH), which serves as fuel for the network. Ether is used to pay transaction fees and execute smart contracts. The Ethereum blockchain is a decentralized, distributed system that does not require central control and is operated by a global network of computers.
A significant difference to Bitcoin lies in the programming language of Ethereum: While Bitcoin uses a limited scripting language, Ethereum allows complex programs that can run on the blockchain. These programs, called smart contracts, are self-executing contracts that operate without intermediaries.
Smart Contracts and DApps
Smart contracts are a central component of Ethereum. They are written in the programming language Solidity and allow you to perform automated, trustless transactions. This allows financial services, supply chain management, identity verification and many other applications to be more efficient and secure.
DApps (decentralized applications) run on the Ethereum blockchain and include a variety of applications, including decentralized financial platforms (DeFi), NFT marketplaces, and gaming platforms.
Meaning and future
Ethereum has established itself as one of the most important blockchain platforms and is driving innovations in the field of DeFi, NFTs and Web3. With continuous improvements and increasing acceptance, Ethereum will continue to play a central role in the world of cryptocurrencies and decentralized technologies.