Introduction
Launched in 2015 by Vitalik Buterin and a team of developers, Ethereum expanded blockchain functionality beyond just sending and receiving currency. It introduced smart contracts — self-executing code stored on the blockchain.
Smart Contracts & dApps
Smart contracts allow for automatic, trustless transactions. Developers use them to build decentralized applications (dApps) in areas like finance, gaming, NFTs, and social media — all running on Ethereum’s network.
Ether (ETH)
Ether is Ethereum’s native currency, used to pay for transactions and computational services (called “gas fees”). It also serves as a store of value and a tradable asset.
Ethereum 2.0 and The Merge
In September 2022, Ethereum successfully completed “The Merge,” transitioning from the energy-intensive Proof of Work (PoW) to the more sustainable Proof of Stake (PoS). This shift drastically reduced Ethereum’s energy consumption by over 99% and laid the foundation for future scalability upgrades like sharding.
The network is now focused on enhancing performance, lowering fees, and improving user experience — positioning Ethereum to remain the leading platform for decentralized applications.
Conclusion
Ethereum is the foundation of decentralized innovation. It’s a vital platform for the evolving Web3 ecosystem and continues to lead in smart contract adoption.