Ethereum (ETH) is a decentralized, open-source blockchain platform that enables smart contracts and decentralized applications (dApps). Launched in 2015 by Vitalik Buterin and others, Ethereum introduced the concept of programmable blockchain through its Ethereum Virtual Machine (EVM). ETH, its native cryptocurrency, is used to pay for transaction fees and computational services on the network. Unlike Bitcoin, which primarily serves as digital currency, Ethereum's flexibility supports a wide range of applications, including DeFi, NFTs, and DAOs. In 2022, Ethereum transitioned to a Proof-of-Stake consensus mechanism via "The Merge," significantly reducing its energy consumption and enhancing scalability and security.
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