What is Ethereum?
Ethereum is an open-source blockchain platform that enables developers to build and deploy smart contracts and decentralized applications (dApps).
Ethereum is a decentralized computing platform launched in 2015 by Vitalik Buterin. Unlike Bitcoin, which is primarily a payment system, Ethereum is a programmable blockchain.
At its core is the EVM (Ethereum Virtual Machine), which executes smart contracts—code that automatically enforces agreement terms. This enabled ecosystems like DeFi (decentralized finance), NFTs, DAOs, and stablecoins.
In 2022, Ethereum transitioned to Proof-of-Stake consensus (The Merge), reducing network energy consumption by 99.9%.
🧒 Explain Like I'm 5
If Bitcoin is a digital calculator (does one thing well), Ethereum is a smartphone. You can run thousands of different apps on it: games, banks, art auctions.
❓ Frequently Asked Questions
How does Ethereum differ from Bitcoin?
Bitcoin is digital money. Ethereum is a programmable platform for building applications. They also use different security models and monetary policies.
What is Ether (ETH)?
Ether (ETH) is the native cryptocurrency of the Ethereum network. It's used to pay transaction fees (gas) and as a store of value.
What is gas on Ethereum?
Gas is a unit that measures the computational work required to execute operations on Ethereum. Users pay gas fees in ETH to miners/validators for processing transactions and smart contract executions. Gas fees fluctuate based on network demand.
What was The Merge?
The Merge (September 2022) was Ethereum's transition from Proof-of-Work to Proof-of-Stake consensus. It reduced energy consumption by 99.9%, eliminated mining, and introduced validators who stake ETH to secure the network.
How to buy Ethereum?
Purchase ETH on exchanges like Coinbase, Binance, or Kraken. Create an account, complete KYC verification, deposit fiat currency or crypto, and buy ETH. You can store it on the exchange or transfer to a personal wallet like MetaMask for full control.
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