$ETH
Ethereum is a decentralized platform that enables the development and execution of smart contracts and decentralized applications (dApps). Created by Vitalik Buterin and launched in 2015, Ethereum operates on blockchain technology, similar to #Bitcoin , but with more flexibility. The key feature that sets Ethereum apart is its ability to run smart contracts—self-executing contracts with terms directly written into code.
Ethereum's native cryptocurrency is called #Ether (ETH), which is used to pay for transaction fees and computational services on the network. Ethereum's consensus mechanism initially used Proof of Work (PoW) like Bitcoin, but it transitioned to Proof of Stake (PoS) with the Ethereum 2.0 upgrade to improve scalability, security, and energy efficiency.
Over the years, Ethereum has become the foundation for various decentralized projects, including decentralized finance (DeFi) applications, non-fungible tokens (NFTs), and more. With the move to Ethereum 2.0, the network aims to process more transactions with lower energy consumption and better scalability, making it a key player in the world of blockchain and cryptocurrency.