Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference. It is a blockchain-based distributed computing platform featuring smart contract functionality. It provides a decentralized virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes.
Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online crowdsale that took place between July and August 2014. The system went live on 30 July 2015, with 11.9 million coins “premined” for the crowdsale. This accounts for about 13 percent of the total circulating supply.
Ethereum is the second-largest cryptocurrency by market capitalization, behind Bitcoin. It is also the most actively used blockchain. Ethereum’s native cryptocurrency, Ether (ETH), is used to pay for transaction fees and services on the Ethereum network.
Ethereum is a platform for decentralized applications (dApps). These are applications that run on a decentralized network of computers, rather than a single computer. This means that no single entity can control the application or its data. Ethereum’s smart contracts provide a way for developers to create these dApps without having to trust a third party.
Ethereum also provides a platform for Initial Coin Offerings (ICOs). These are crowdfunding campaigns that use cryptocurrency to raise funds for a project. Ethereum’s smart contracts provide a way for developers to create these ICOs without having to trust a third party.
Ethereum is also used to power decentralized finance (DeFi) applications. These are applications that allow users to lend, borrow, and trade cryptocurrency without having to trust a third party. Ethereum’s smart contracts provide a way for developers to create these DeFi applications without having to trust a third party.
Ethereum is a powerful platform for creating decentralized applications, ICOs, and DeFi applications. It is a secure, reliable, and censorship-resistant platform that is powering the decentralized web.
