Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum is the most popular blockchain platform in the world, with a market capitalization of over $300 billion.
The Ethereum platform is built on a network of computers that run a distributed ledger called the blockchain. The blockchain is a secure and transparent database that records all transactions on the Ethereum network.
Smart contracts are programs that are stored on the Ethereum blockchain. They are self-executing, meaning that they automatically perform the actions that they are programmed to do. Smart contracts can be used to create a wide variety of applications, including:
- Decentralized finance (DeFi): Applications that provide financial services without the need for a central authority.
- Non-fungible tokens (NFTs): Digital assets that are unique and cannot be replaced.
- Decentralized applications (DApps): Applications that run on the Ethereum blockchain.
Ethereum is still under development, but it has the potential to revolutionize a wide variety of industries. It has the potential to make financial services more accessible and affordable, to create new forms of digital ownership, and to create a more transparent and accountable world.