What Is Ethereum (ETH)? ETH is a decentralized, open-source blockchain platform that enables developers to build and deploy smart contracts and decentralized applications (dApps). Launched in 2015 by Vitalik Buterin and others, ETH introduces the concept of programmable money, allowing developers to create complex financial instruments and automated systems.

The native cryptocurrency of the Ethereum network is Ether (ETH), which is used primarily for two purposes: as a digital currency for transactions and as «gas» to pay for computational services on the network. Smart contracts on Ethereum are self-executing agreements with the terms directly written into code, providing transparency and security in transactions without the need for intermediaries.

Ethereum has gained immense popularity and is known for its vibrant ecosystem, driving innovations such as decentralized finance (DeFi), non-fungible tokens (NFTs), and various other blockchain applications. The platform is continually evolving, with plans for upgrades (Ethereum 2.0) aiming to improve scalability, security, and energy efficiency through a transition from proof-of-work to a proof-of-stake consensus mechanism.