Ethereum - Page 7

Ethereum is an open-source blockchain platform that enables developers to build and deploy decentralized applications (dApps) and smart contracts. Launched in 2015 by Vitalik Buterin and others, Ethereum introduced the concept of a programmable blockchain, which allows developers to create complex automated agreements and applications that can operate without intermediary control. The platform’s native cryptocurrency is called Ether (ETH), which is used for transactions, paying fees, and incentivizing participants on the network. Ethereum's versatility has made it a foundational technology for a wide range of applications, including decentralized finance (DeFi), non-fungible tokens (NFTs), and various forms of digital assets and services. The Ethereum network operates on a decentralized peer-to-peer network, where nodes validate and verify transactions through consensus mechanisms. As of recent updates, Ethereum has also undergone significant upgrades, including the shift from a proof-of-work to a proof-of-stake consensus mechanism, aimed at improving scalability and sustainability.