What is Etherium cryptocurrency

 


Ethereum is a decentralized, open-source blockchain platform that enables the creation and execution of smart contracts and decentralized applications (dApps). It was created by Vitalik Buterin in 2013 and launched in 2015.


The Ethereum blockchain enables developers to build decentralized applications that can run without downtime, censorship, or interference from third parties. It uses a cryptocurrency called Ether (ETH) as a means of exchange for transactions on the network. Ether is also used to pay for transaction fees and computational services provided by the Ethereum network.


One of the key features of Ethereum is its support for smart contracts, which are self-executing contracts with the terms of the agreement directly written into code. Smart contracts allow for the creation of decentralized applications that can automate the exchange of value, enable the creation of decentralized organizations, and even facilitate the development of new financial instruments.


The Ethereum platform has become a popular choice for developers building decentralized applications, and it has also been used for initial coin offerings (ICOs), where new cryptocurrencies are created and sold to investors.

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