Ethereum - Page 56
Ethereum is an open-source, decentralized blockchain platform that enables developers to build and deploy smart contracts and decentralized applications (dApps). Introduced in 2015 by Vitalik Buterin and others, Ethereum extends the capabilities of a traditional blockchain by allowing programmable transactions through its own cryptocurrency called Ether (ETH). The platform uses a consensus mechanism, initially Proof of Work (PoW), and has transitioned to Proof of Stake (PoS) through upgrades known as Ethereum 2.0.One of Ethereum's key innovations is the Ethereum Virtual Machine (EVM), which allows developers to run code and execute contracts on the blockchain in a secure and decentralized manner. This environment enables the creation of a wide range of applications, including financial services (DeFi), non-fungible tokens (NFTs), and various other blockchain-based solutions, fostering a new era of digital innovation and decentralized governance.Ethereum has played a foundational role in the rise of blockchain technology and has a vibrant ecosystem of developers, users, and businesses participating in its growth and evolution.
