$ETH What is Ethereum?
Ethereum is a decentralized blockchain platform that allows developers to build and deploy smart contracts and decentralized applications (DApps). It was proposed in 2013 by Vitalik Buterin and officially launched in 2015.
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Key Features of Ethereum:
1. Ether (ETH):
The native cryptocurrency of the Ethereum network. It is used to pay for transactions and computational services.
2. Smart Contracts:
Self-executing programs that automatically carry out actions when certain conditions are met—without needing intermediaries.
3. Decentralized Applications (DApps):
Applications that run on the Ethereum blockchain, not controlled by any single entity or server.
4. Ethereum Virtual Machine (EVM):
A global computing environment that allows any developer to run code in a secure and consistent way across the world.
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Popular Uses of Ethereum:
DeFi (Decentralized Finance):
Financial services like lending, borrowing, and trading—without banks or brokers.
NFTs (Non-Fungible Tokens):
Unique digital assets representing ownership of things like art, music, and collectibles.
DAOs (Decentralized Autonomous Organizations):
Organizations governed by code instead of traditional management structures.
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Recent Upgrade – The Merge:
In September 2022, Ethereum transitioned from Proof of Work (PoW) to Proof of Stake (PoS). This upgrade:
Reduced energy consumption by over 99%.
Made the network more sustainable and scalable.
