Ethereum is a decentralized blockchain with smart contract functionality. Ether is the platform’s native cryptocurrency. Among cryptocurrencies, Ether is second only to Bitcoin in terms of market capitalization. It is an open source software.
In 2014, development work began, which was financed by crowdfunding, and the network was launched on July 30, 2015. Ethereum allows anyone to deploy persistent and immutable decentralized applications on it that users can interact with. Decentralized finance (DeFi) applications provide financial instruments that do not rely directly on financial intermediaries such as brokerages, exchanges, or banks. This makes it easier to obtain loans secured by cryptocurrency assets or lend them at interest. Ethereum also allows users to create and trade non-fungible tokens (NFTs), which are tokens that can be tied to unique digital assets such as images.
