Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (dApps). It is the second-largest cryptocurrency by market capitalization, after Bitcoin.
Ethereum was first proposed in 2013 by Vitalik Buterin, a Canadian programmer and researcher. The platform went live in 2015, and its native cryptocurrency, Ether (ETH), is used to pay for transaction fees and computational services on the Ethereum network.
Unlike Bitcoin, which is primarily used as a digital currency, Ethereum was designed to be a platform for building decentralized applications. Smart contracts are self-executing contracts with the terms of the agreement written directly into code. They can be used for a wide range of applications, including supply chain management, voting systems, and financial services. The Ethereum network uses a consensus algorithm called proof of stake consensus algorithm.
Ethereum has a rapidly growing developer community, and many projects and dApps are being built on top of the Ethereum blockchain. Some of the most popular use cases include decentralized finance (DeFi) platforms, non-fungible tokens (NFTs), and prediction markets.