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What is Ethereum?

What Is Ethereum?

At its core, Ethereum is a decentralized global software platform powered by blockchain technology. It is most commonly known for its native cryptocurrency, ether (ETH).



Ethereum can be used by anyone to create any secured digital technology. It has a token designed to pay for work done supporting the blockchain, but participants can also use it to pay for tangible goods and services if accepted.


Ethereum is designed to be scalable, programmable, secure, and decentralized. It is the blockchain of choice for developers and enterprises creating technology based upon it to change how many industries operate and how we go about our daily lives.


It natively supports smart contracts, an essential tool behind decentralized applications.1 Many decentralized finance (DeFi) and other applications use smart contracts in conjunction with blockchain technology.


Learn more about Ethereum, its token ETH, and how they are an integral part of non-fungible tokens, decentralized finance, decentralized autonomous organizations, and the metaverse.


KEY TAKEAWAYS

  • Ethereum is a blockchain-based platform best known for its cryptocurrency, ether (ETH).

  • The blockchain technology that powers Ethereum enables secure digital ledgers to be publicly created and maintained.

  • Bitcoin and Ethereum have many similarities but different long-term visions and limitations.

  • Ethereum changed from proof of work to proof of stake in September 2022.2

  • Ethereum is the foundation for many emerging technological advances based on blockchain.


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