Ethereum (ETH) is a decentralized open-source platform on the blockchain that allows for the creation and execution of smart contracts and decentralized applications (DApps). Founded by Vitalik Buterin in 2015, Ethereum provides a programmable infrastructure for financial operations, gaming, NFTs, and other applications without intermediaries. The platform's primary cryptocurrency is Ether (ETH), which is used to pay for transactions and computations on the network. After transitioning to Ethereum 2.0 in 2022, the network changed its consensus algorithm from Proof of Work (PoW) to Proof of Stake (PoS), significantly reducing energy consumption.
