What is Ethereum ? (ETH)
Ethereum is a decentralized, open-source, blockchain-based platform that enables the creation of decentralized applications (dapps) and smart contracts. Unlike Bitcoin, which is primarily a digital currency, Ethereum is designed to support a wider range of applications beyond just serving as a store of value and means of payment.
Ethereum has its own cryptocurrency called Ether (ETH), which is used to pay for transactions and computational services on the network. The platform also allows for the creation of custom tokens, which can be used to represent assets such as virtual real estate or virtual shares in a company.
Smart contracts on the Ethereum network are self-executing and automated, allowing for the creation of trustless, transparent, and secure transactions without the need for intermediaries. This makes Ethereum useful for a range of applications such as supply chain management, voting systems, and decentralized finance (DeFi) applications.
Overall, Ethereum aims to provide a decentralized platform for the creation of decentralized applications and enable new use cases for blockchain technology beyond what was possible with Bitcoin.