Ethereum - Page 116

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 a group of co-founders, Ethereum extends the capabilities of traditional blockchain technology by allowing for programmable transactions, which means that contracts can be executed automatically when certain conditions are met. The platform is powered by its native cryptocurrency, Ether (ETH), which is used to facilitate transactions and incentivize participants on the network. Ethereum's architecture supports a wide range of applications, from finance (DeFi) to digital art (NFTs), making it one of the most prominent platforms in the blockchain ecosystem. Its ongoing development includes upgrades aimed at improving scalability, security, and sustainability, such as transitioning to a proof-of-stake consensus mechanism.