$ETH "ETH" is the ticker symbol for Ether, the native cryptocurrency of the Ethereum blockchain.

Here's a breakdown of what Ethereum is and its key aspects:

What is Ethereum?

Ethereum is a decentralized, open-source blockchain platform with smart contract functionality. It was conceived by Vitalik Buterin in 2013 and launched in 2015. Unlike Bitcoin, which primarily focuses on being a digital currency, Ethereum was designed to be a programmable blockchain, enabling developers to build and deploy a wide range of decentralized applications (dApps).

Key Concepts:

* Blockchain: At its core, Ethereum uses blockchain technology. This is a distributed, immutable public ledger that records all transactions and data on the network. Information is stored in "blocks" linked chronologically, ensuring transparency and resistance to tampering.

* Ether (ETH): This is the cryptocurrency that powers the Ethereum network. It serves several purposes:

* Gas fees: Users pay gas fees in ETH to execute transactions and smart contracts on the network. These fees compensate validators (formerly "miners") for their computational work.

* Store of value: Like other cryptocurrencies, ETH can be held as an investment or traded.

* Collateral: ETH can be staked to participate in the network's consensus mechanism (Proof-of-Stake).

* Smart Contracts: These are self-executing contracts with the terms of the agreement directly written into code. They run on the Ethereum Virtual Machine (EVM), a decentralized global computer that executes smart contract code. Smart contracts enable automated and trustless agreements without the need for intermediaries.

* Decentralized Applications (dApps): These are applications that run on a decentralized network (like Ethereum) rather than being hosted on a centralized server. They are open-source, operate without a central authority, and their data is stored on the blockchain.

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