Ethereum - Page 2

Ethereum 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, it features its own cryptocurrency called Ether (ETH), which is used to facilitate transactions and compensate participants who perform computations on the network. Ethereum operates on a blockchain that records all transactions made on the network, ensuring transparency and security.The platform is distinguished by its ability to execute scripts using a global network of nodes, making it a versatile ecosystem for various use cases beyond currency. This includes decentralized finance (DeFi), token creation, and non-fungible tokens (NFTs), among others. Ethereum introduced the concept of "smart contracts," which are self-executing contracts with the terms directly written into code, enabling trustless interactions between parties.Ethereum has undergone significant upgrades since its launch, with the most notable being the transition from a proof-of-work (PoW) consensus mechanism to proof-of-stake (PoS) with Ethereum 2.0, aimed at improving scalability, security, and energy efficiency. Overall, Ethereum is a foundational technology in the blockchain space, providing a framework for innovation and the development of decentralized solutions.