Ethereum is a decentralized, open-source platform that enables users to interact with smart contracts and decentralized applications (dApps) on its blockchain. Launched in 2015, Ethereum has since become the second-largest cryptocurrency platform by market capitalization, after Bitcoin.
How does Ethereum work?
Ethereum's blockchain, a global network of computers known as nodes, records transactions and stores data, ensuring network integrity. Its native cryptocurrency, Ether (ETH), enables user transfers and pays for network services. Ethereum notably supports smart contracts, self-executing contracts coded directly into the blockchain, eliminating intermediaries. These smart contracts fuel various applications, including decentralized finance (DeFi), digital identity management, and digital collectibles.
Getting started with Ethereum
To interact with the Ethereum network, you'll need a digital wallet that supports Ethereum and its tokens. There are various wallet options available, such as mobile wallets like Family, browser-based wallets like MetaMask, and hardware wallets like Ledger or Trezor. Once you have a wallet, you can purchase Ether (ETH) from a cryptocurrency exchange or receive it from another user. With Ether in your wallet, you can send and receive transactions, interact with smart contracts, and explore the world of decentralized applications built on Ethereum.