Ethereum is a popular cryptocurrency that operates on a decentralized platform. It was created in 2015 by Vitalik Buterin, a programmer and cryptocurrency enthusiast. Ethereum works on a technology called blockchain, which is essentially a digital ledger that records transactions securely.
Unlike traditional currencies like the US dollar or the euro, Ethereum is not controlled by any government or financial institution. This means that transactions can be made without the need for a middleman, such as a bank. Ethereum uses a digital currency called Ether, which can be used for a variety of purposes, including making payments, executing smart contracts, and even creating new cryptocurrencies.
One of the key features of Ethereum is its ability to run smart contracts. These are self-executing contracts with the terms of the agreement written into code. Smart contracts can automatically enforce the terms of an agreement, without the need for a third party to oversee the transaction. This makes transactions more secure and efficient.
Overall, Ethereum is a powerful and innovative platform that is changing the way we think about currency and transactions. Its decentralized nature and smart contract capabilities make it a popular choice for many users in the cryptocurrency world.