What is Ethereum?
A blockchain platform that supports smart contracts and decentralized applications, powered by its native cryptocurrency, Ether (ETH).
Ethereum is a decentralized, open-source blockchain featuring smart contract functionality. Unlike Bitcoin, which is primarily a digital currency, Ethereum is a platform that allows developers to build and deploy decentralized applications (dApps). Its native cryptocurrency, Ether (ETH), is used to pay for transaction fees and computational services on the network.
This programmability has made Ethereum the foundational layer for much of the innovation in the crypto space, including decentralized finance (DeFi), non-fungible tokens (NFTs), and various other blockchain-based protocols. The network is transitioning to a more energy-efficient proof-of-stake consensus mechanism.