Ethereum is a decentralized blockchain platform that enables developers to build and deploy smart contracts and decentralized applications (DApps). It was created by Vitalik Buterin and went live in 2015. Ethereum's native cryptocurrency is called Ether (ETH), and it's used to pay for transactions and computational services on the network.
Ethereum's key innovation is its ability to execute smart contracts, which are self-executing contracts with the terms of the agreement directly written into code. This allows for a wide range of applications, including decentralized finance (DeFi), non-fungible tokens (NFTs), and more.
Ethereum 2.0, an upgrade to the Ethereum network, is in progress to improve scalability, security, and sustainability. It aims to replace the current proof-of-work (PoW) consensus mechanism with proof-of-stake (PoS) to reduce energy consumption and increase transaction throughput.
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