Ethereum

Ethereum is a decentralized blockchain platform that enables the creation of smart contracts and decentralized applications (dApps). Launched in 2015 by Vitalik Buterin, Ethereum expanded blockchain technology beyond simple value transfers (like Bitcoin) by allowing programmable and automated transactions without intermediaries.

Ethereum uses its native cryptocurrency, Ether (ETH), which is used to pay for transactions and power the network. The platform underwent a major upgrade called The Merge, transitioning from the energy-intensive Proof of Work (PoW) mechanism to the more efficient Proof of Stake (PoS). Ethereum serves as the foundation for many Web3 innovations, including DeFi, NFTs, and DAOs, but it also faces challenges such as scalability and high transaction fees (gas fees).