Ethereum is a decentralized blockchain platform created in 2015 by Vitalik Buterin.Unlike Bitcoin which primarily focuses on cryptocurrency transactions, Ethereum is designed to do much more.Think of Ethereum as a giant global computer that can run applications (called dApps) and execute smart contracts-self-executing agreements written in code. Its native cryptocurrency is called Ether (ETH),which is used to pay for transactions and computational services on the network.What makes Ethereum special?
Smart contracts enable automatic,trustless transactions
Developers can build decentralized applications (dApps) on it
Supports creation of other cryptocurrencies(tokens) using standards like ERC-20
Powers DeFi (decentralized finance) applications,NFTs, and more
In 2022,Ethereum switched from Proof-of-Work to Proof-of-Stake (called "The Merge"),making it more energy efficient and environmentally friendly.
Uses: DeFi services,NFT marketplaces, decentralized applications, token creation, and digital asset management.