Ethereum (ETH) is a decentralized blockchain platform that enables developers to build and deploy smart contracts and decentralized applications (DApps). Launched in 2015 by Vitalik Buterin, Ethereum has become one of the leading blockchain platforms due to its flexibility and programmability.
ETH is the native cryptocurrency of the Ethereum ecosystem and serves various purposes, including transaction fees, security, and governance.
Users pay ETH as fees to execute transactions and smart contracts on the Ethereum network, while ETH is also used as collateral for securing the network through a consensus mechanism known as Proof of Stake (PoS). ETH holders can participate in the governance of the Ethereum network by voting on proposed protocol upgrades and changes.
Ethereum's smart contract functionality allows developers to create a wide range of decentralized applications across various industries. Its interoperability means that the DApps on Ethereum are compatible with various blockchain networks and protocols, enabling the seamless exchange of assets and data between different platforms.
