TL;DR
Ethereum (ETH) is a decentralized blockchain platform launched in 2015 that allows for programmable contracts (smart contracts) and applications (dApps) without a middleman. Known for enabling DeFi (decentralized finance) and NFTs, Ethereum has become popular for users, developers, and investors looking for alternatives to traditional finance and digital ownership.
What is Ethereum ETH
Ethereum (ETH) is a popular cryptocurrency and blockchain platform, and you can think of it like a huge, decentralized computer that allows people to create programs, conduct transactions, and even create new cryptocurrencies—all without needing a middleman like a bank or tech company. It was launched in 2015 by a group led by Vitalik Buterin, with the goal of going beyond Bitcoin’s use case as a digital currency and building a platform where developers could create “smart contracts.”
Smart contracts are one of Ethereum’s most unique features. They’re like regular contracts but are self-executing, meaning the terms are directly written into code, so they run automatically without needing a third party. This has enabled the creation of decentralized applications (dApps) in areas like finance, gaming, and even social networks, where users interact with each other directly and retain control over their own data and funds.
Ethereum has grown tremendously in popularity, especially because it enables the use of DeFi (Decentralized Finance) applications, where people can borrow, lend, or trade assets without traditional banks, and NFTs (Non-Fungible Tokens), which are digital collectibles that people buy and sell on the blockchain. These features make Ethereum very attractive to developers and investors, as well as users looking for an alternative to traditional financial systems and online platforms.
Levou Shop Impressions
If Bitcoin is sort of digital gold, Ethereum is the structure or platform that runs a lot of of more advanced crypto systems, both directly and some indirectly, i would say that you can use easily Ethereum to pay, but it’s best to use it through another network the so called L2’s, so the fees are lower, if you try and pay with Ethereum in the Ethereum network the fees might be a bit high.