Ethereum - Page 17

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, Ethereum allows users to create programmable transactions using its native cryptocurrency, Ether (ETH). Smart contracts are self-executing contracts with the terms directly written into code, facilitating trustless agreements and automating processes without the need for intermediaries. Ethereum operates on a global network of computers (nodes) that maintain its blockchain, ensuring transparency and security. The platform has gained significant attention and adoption due to its flexibility and the vibrant ecosystem of projects built on it, including decentralized finance (DeFi) applications, non-fungible tokens (NFTs), and various types of decentralized autonomous organizations (DAOs). Ethereum has undergone significant updates, including the transition from proof-of-work to a proof-of-stake consensus mechanism with Ethereum 2.0, aimed at improving scalability and reducing energy consumption.