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About
Ethereum (ETH)
Ethereum is a blockchain platform designed to build decentralized applications (dApps) using smart contracts. Ether (ETH), its native cryptocurrency, is the second largest crypto by market cap. It’s used to pay for transaction fees (gas), run dApps, and execute smart contracts. Ether also plays a key role in decentralized finance (DeFi), staking, NFTs, and decentralized exchanges.
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Frequently asked questions
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What is Ethereum (ETH)?
Ethereum is a decentralized, open-source blockchain that allows developers to build and deploy smart contracts and decentralized applications (dApps). It was proposed by Vitalik Buterin in 2013 and launched in 2015. Ethereum’s native cryptocurrency, Ether (ETH), is used to power the network and pay for transaction fees. -
How did Ethereum start?
Ethereum was proposed in late 2013 by programmer Vitalik Buterin, who saw limitations in Bitcoin’s design and envisioned a more versatile blockchain platform. A crowdfunding campaign in 2014 raised funds for development, and the Ethereum network officially launched on July 30, 2015. -
What makes Ethereum different from Bitcoin?
Ethereum differs from Bitcoin in its purpose and functionality. While Bitcoin is primarily a store of value and means of transferring wealth, Ethereum allows developers to create and run smart contracts and dApps. This flexibility has made Ethereum the foundation for the decentralized finance (DeFi) and NFT ecosystems. -
What is a smart contract?
A smart contract is a self-executing contract with terms of agreement directly written into code. Ethereum’s blockchain supports smart contracts, enabling them to be executed autonomously and securely without the need for intermediaries. -
What are dApps, and how do they relate to Ethereum?
dApps, or decentralized applications, are software programs that run on blockchain networks like Ethereum. They use smart contracts to automate processes and provide a decentralized alternative to traditional applications. Ethereum’s infrastructure supports thousands of dApps, making it the primary platform for decentralized applications.
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