What is Ethereum (ETH)

Looking for information about Ethereum? In a series of token info articles, we will help you to understand the main information about the most-known cryptocurrencies and their working principles.

Ethereum (ETH – Trade it here) is a decentralized, open-source blockchain with smart contract functionality. Ether Coins (ETH) are the native cryptocurrency of the platform. Right now, Ether is second only to Bitcoin (BTC) in market capitalization.

When Ethereum was found?

Ethereum was created in 2013 by Russian programmer Vitalik Buterin. Additional founders of Ethereum Platform included Gavin Wood and Charles Hoskinson, Anthony DiLorio and Joseph Lubin. In 2014, development work commenced and was crowdfunded. ETH’s network went live on 30 July 2015.

Ethereum platform

Ethereum platform allows anyone to deploy permanent and immutable decentralized applications onto it, with which users can interact. Decentralized finance (DeFi) applications provide a broad array of financial services without the need for typical financial intermediaries like brokerages, exchanges, or banks, such as allowing cryptocurrency users to borrow against their holdings or lend them out for interest. Ethereum also allows for the creation and exchange of NFTs, which are non-interchangeable tokens connected to digital works of art or other real-world items and sold as unique digital property. Additionally, many other cryptocurrencies operate as ERC-20 tokens on top of the Ethereum blockchain and have utilized the platform for initial coin offerings.

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