Introduction
Ethereum is a decentralized platform that enables developers to build and deploy smart contracts and decentralized applications (dApps). It is powered by its native cryptocurrency, Ether (ETH), which serves as fuel for the network.
What is Ethereum?
Ethereum was proposed by Vitalik Buterin in late 2013 and development began in early 2014, with the network going live on July 30, 2015. The goal was to create a platform that could enable the execution of complex smart contracts without interference from third parties.
How Does Ethereum Work?
Ethereum uses blockchain technology to create a decentralized platform where applications can be built and run without any downtime, fraud, control, or interference from a third party. Smart contracts on the Ethereum network are self-executing contracts with the terms of the agreement directly written into code.
Conclusion
Ethereum has revolutionized the way we think about blockchain technology and has opened up a world of possibilities for developers. With its smart contract capabilities and decentralized applications, Ethereum continues to be a leading platform in the blockchain space.