Ethereum (ETH) is a decentralized, open-source blockchain platform that uses its native cryptocurrency, Ether, to facilitate transactions and run applications. It is known for enabling smart contracts and decentralized applications (dApps), essentially acting as a global, programmable computer. Ether (ETH) is the fuel that powers the Ethereum network, used to pay for transaction fees (called "gas") and to incentivize network participants.

Here's a more detailed breakdown:

Key Features of Ethereum (ETH):

Decentralized Platform:

Ethereum is a decentralized, open-source platform, meaning it is not controlled by a single entity and is accessible to anyone.

Smart Contracts:

Ethereum is famous for enabling smart contracts, which are self-executing agreements written in code. These contracts automate processes and reduce the need for intermediaries.

Decentralized Applications (dApps):

Ethereum is the foundation for many dApps, which are applications that operate on the blockchain and offer functionalities without traditional intermediaries.