Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference. These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property.
Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online crowdsale that took place between July and August 2014. The system went live on 30 July 2015, with 11.9 million coins “premined” for the crowdsale. This accounts for about 13 percent of the total circulating supply.
Ethereum is the second-largest cryptocurrency by market capitalization, behind Bitcoin. It is often described as a “world computer” that allows developers to build and run decentralized applications (dapps). Ethereum’s native cryptocurrency, Ether (ETH), is used to pay for transaction fees and services on the Ethereum network.
Ethereum is a blockchain-based platform that enables developers to build and deploy decentralized applications (dapps). These dapps are powered by smart contracts, which are self-executing contracts that are written in code and stored on the Ethereum blockchain. Smart contracts allow developers to create applications that can interact with each other without the need for a third-party intermediary.
Ethereum is also used to power decentralized finance (DeFi) applications. DeFi is a type of financial application that runs on the Ethereum blockchain and allows users to access financial services without the need for a traditional financial institution. DeFi applications include decentralized exchanges, lending protocols, and stablecoins.
Ethereum is also used to power decentralized autonomous organizations (DAOs). A DAO is a type of organization that is run by a set of rules encoded into smart contracts. These rules are enforced by the Ethereum blockchain and allow the organization to operate without the need for a central authority.
Ethereum is also used to power non-fungible tokens (NFTs). NFTs are digital assets that are stored on the Ethereum blockchain and are used to represent ownership of digital items such as artwork, music, and collectibles.
Ethereum is a powerful platform that is revolutionizing the way we interact with the digital world. It is enabling developers to build and deploy decentralized applications, powering decentralized finance, and enabling the creation of non-fungible tokens. Ethereum is the cryptocurrency powering the decentralized web and is set to revolutionize the way we interact with the digital world.
