Ethereum Explained: Smart Contracts and Beyond
Ethereum is more than just a cryptocurrency—it’s a revolutionary platform that's changing the way we interact with technology, finance, and the internet itself. If Bitcoin introduced the concept of decentralized money, Ethereum introduced decentralized logic. Through smart contracts, Ethereum enables developers to build decentralized applications (dApps) that operate autonomously without intermediaries.$ETH
This article explores what Ethereum is, how smart contracts work, and why Ethereum matters beyond just its native currency, ETH.
What Is Ethereum?
Launched in 2015 by Vitalik Buterin and others, Ethereum is an open-source, blockchain-based platform designed for decentralized applications. Unlike Bitcoin, which is mainly a digital currency, Ethereum offers a programmable blockchain—a decentralized virtual machine where code can be executed exactly as written.
Currency: Ether (ETH), used to pay for transactions and computational services.
Consensus Mechanism: Now operates on Proof of Stake (PoS) via Ethereum 2.0 upgrade.
Use Cases: Smart contracts, DeFi, NFTs, DAOs, gaming, identity, and more.