Ethereum

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thereum is an open-source, decentralized blockchain platform launched in 2015 by Vitalik Buterin and co-founders. It is designed to enable developers to build and deploy smart contracts and decentralized applications (dApps) without needing intermediaries. The Ethereum platform operates on a decentralized virtual machine, known as the Ethereum Virtual Machine (EVM), which processes instructions using a global network of nodes. Ethereum introduced the concept of "smart contracts," self-executing contracts that automatically enforce the terms and conditions coded within them, which revolutionized blockchain use cases beyond simple peer-to-peer payments.

Ether (ETH) is the native cryptocurrency of the Ethereum platform and is used to pay for transaction fees, computational services, and incentivizing nodes to validate transactions. Ether is currently the second-largest cryptocurrency by market capitalization after Bitcoin. Ethereum is also the foundation for a variety of decentralized finance (DeFi) applications, non-fungible tokens (NFTs), and other digital assets.

One of Ethereum's most significant upgrades was the shift from the proof-of-work (PoW) consensus mechanism to the proof-of-stake (PoS) model, known as "The Merge." This transition was aimed at improving the network's scalability, security, and energy efficiency. Ethereum’s network can now process more transactions per second and reduce the environmental impact previously associated with mining.

The platform has played a central role in the expansion of decentralized finance (DeFi), allowing for decentralized lending, borrowing, and trading. Ethereum's programmable blockchain has been adopted by thousands of projects, making it the backbone of the rapidly growing DeFi and NFT ecosystems.