Nite
Valued Contributor
Ethereum is an open-source, blockchain-based, decentralised software platform that enables the creation of smart contracts and decentralised applications (dApps) capable of executing complex, trustless transactions without the need for intermediaries. It was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer, and launched in July 2015. Ethereum’s native cryptocurrency, Ether (ETH), acts as a fuel for operating the network and is used by developers to pay for transaction fees and services on the Ethereum platform.
Ethereum’s primary innovation lies in its support for smart contracts, which are self-executing agreements with the terms of the agreement directly written into code. They automatically execute transactions and record them on the blockchain when predefined conditions are met. This allows for the creation of decentralised applications that can operate autonomously, securely, and without censorship.
Ethereum’s primary innovation lies in its support for smart contracts, which are self-executing agreements with the terms of the agreement directly written into code. They automatically execute transactions and record them on the blockchain when predefined conditions are met. This allows for the creation of decentralised applications that can operate autonomously, securely, and without censorship.