$ETH Ethereum often shortened as ETH is a decentralized blockchain platform that enables developers to build and deploy smart contracts and decentralized applications unlike Bitcoin which mainly focuses on peer to peer transactions Ethereum offers a more versatile platform for innovation it was proposed in late 2013 by programmer Vitalik Buterin and development began in early 2014 with the network going live in July 2015 ETH the native cryptocurrency of Ethereum is used to pay for transaction fees and computational services on the network known as gas Ethereum aims to create a more open and accessible financial system where users can interact without the need for traditional intermediaries like banks or governments with the rise of decentralized finance and nonfungible tokens Ethereum has gained significant popularity and usage over the years however scalability issues and high gas fees have been persistent challenges to address these Ethereum has been undergoing major upgrades most notably the transition from proofofwork to proofofstake with Ethereum 20 or the consensus layer this shift promises better energy efficiency and faster transaction speeds despite competition from newer blockchains Ethereum remains a dominant force in the crypto space continuing to inspire developers and investors around the world as it evolves to meet future demands
