Ethereum (CRYPTO:ETH) is a decentralized blockchain platform that establishes a peer-to-peer network that securely executes and verifies application code, called smart contracts. It was first proposed in 2013 by Vitalik Buterin and went live on July 30, 2015. Ethereum is the second-largest cryptocurrency by market capitalization, after Bitcoin. The native cryptocurrency of Ethereum is called Ether (ETH). ETH is used to pay for transaction fees on the Ethereum network. Ethereum is a platform for decentralized applications (DApps) which run on the Ethereum Virtual Machine (EVM). DApps are applications that are not controlled by any single entity and are often open source. Some of the key projects, products, and services built on Ethereum include Decentralized Finance (DeFi), Non-fungible tokens (NFTs) and Metaverse.
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What are the products and/or services of Ethereum?
Overview of Ethereum offerings
Decentralized finance (DeFi): DeFi is a financial system that is built on blockchain technology and does not require banks or other intermediaries. Ethereum is the most popular platform for DeFi applications.
Metaverse: The metaverse is a virtual world that is built on blockchain technology. Ethereum is often used to power the metaverse because of its smart contract capabilities.
Non-fungible tokens (NFTs): NFTs are unique digital assets that can be used to represent ownership of items such as art, collectibles, and in-game items. Ethereum is the most popular platform for NFTs.
Smart contracts: Smart contracts are self-executing contracts that are stored on the Ethereum blockchain. They can be used to automate a wide range of transactions, such as financial settlements, real estate transfers, and supply chain management.
