Ethereum, conceived by programmer Vitalik

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Buterin in late 2013 and launched in 2015, represents a significant evolution in blockchain technology.

Unlike Bitcoin, which primarily functions as a digital currency, Ethereum is a decentralized platform that enables the creation and execution of smart contracts and decentralized applications (dApps).

The idea behind Ethereum is to extend the blockchain's capabilities beyond simple transactions. Smart contracts are self-executing contracts with the terms directly written into code. These contracts automatically execute and enforce agreements without the need for intermediaries, offering potential applications across various industries, from finance to supply chain management.

Ethereum's native cryptocurrency, Ether (ETH), is used to power the platform and compensate participants who perform computations. Ether has become one of the most valuable cryptocurrencies, second only to Bitcoin in market capitalization.

One of Ethereum's significant milestones was the introduction of the ERC-20 standard, which allows developers to create their own tokens on the Ethereum network. This standardization has spurred a boom in Initial Coin Offerings (ICOs), where startups raise capital by issuing tokens on the Ethereum platform.

However, Ethereum has faced challenges, particularly with scalability and transaction speed. The network has experienced congestion issues, leading to high transaction fees during peak usage. In response, Ethereum has been undergoing a series of upgrades, collectively known as Ethereum 2.0 or Eth2, aimed at improving