Ethereum is a decentralized, open-source blockchain platform that enables the creation and execution of smart contracts without the need for intermediaries. Launched in 2015 by Vitalik Buterin and others, Ethereum extends the capabilities of blockchain technology beyond simple transactions, allowing developers to build decentralized applications (dApps) on its network. Its native cryptocurrency, Ether (ETH), is used to pay for transactions and computational services. One of Ethereum’s major innovations is the Ethereum Virtual Machine (EVM), which provides a runtime environment for smart contracts. In 2022, Ethereum transitioned from a proof-of-work to a proof-of-stake consensus mechanism, significantly reducing its energy consumption. Ethereum continues to be a leading platform for decentralized finance (DeFi), NFTs, and various blockchain-based solutions.
