Ethereum #ETH
Introduction to Ethereum
Ethereum (ETH), launched in 2015 by Vitalik Buterin, is more than just a cryptocurrency. It's a decentralized platform that enables developers to build and deploy smart contracts and decentralized applications (dApps).
How Ethereum Works
Ethereum operates on its own blockchain, similar to Bitcoin, but with added functionality. Smart contracts are self-executing contracts with the terms directly written into code. These contracts run on the Ethereum Virtual Machine (EVM) and are executed when certain conditions are met.
Ethereum's Impact and Use Cases
Ethereum has been instrumental in the rise of decentralized finance (DeFi) and non-fungible tokens (NFTs). DeFi platforms offer financial services without intermediaries, while NFTs represent ownership of unique digital assets. Ethereum's flexibility has made it the foundation for many innovative projects.
Future of Ethereum
The future of Ethereum is bright, especially with the transition to Ethereum 2.0. This upgrade aims to improve scalability, security, and sustainability through a shift from proof-of-work to proof-of-stake consensus mechanism. Ethereum's ongoing development and vibrant ecosystem ensure its continued relevance.