Ethereum is a decentralized, open-source blockchain system that features its own cryptocurrency, Ether (ETH). ETH works as a platform for numerous other cryptocurrencies and also enables the execution of decentralized smart contracts ¹.
Here are some key points about Ethereum ² ¹:
- Ethereum was first described in a 2013 whitepaper by Vitalik Buterin and was officially launched on July 30, 2015
- Ethereum’s own goal is to become a global platform for decentralized applications
- Ethereum has a total of eight co-founders, including Vitalik Buterin and Gavin Wood
- Ethereum has pioneered the concept of a blockchain smart contract platform
- Ethereum’s blockchain is able to host other cryptocurrencies, called “tokens,” through the use of its ERC-20 compatibility standard
- Ethereum Name Service, aka ENS, is a distributed and extensible naming system based on the Ethereum blockchain
- Ethereum is currently the largest blockchain for NFT trading activities
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