What Is Ethereum?

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What Is Ethereum?

9 cards

Ethereum was created in 2013 by a 19-year-old named Vitalik Buterin.

Inspired by Bitcoin, Vitalik wanted to create a blockchain that could be used for more than just sending funds.

Ethereum is a blockchain with a cryptocurrency called Ether (ETH). 

Unlike Bitcoin, however, Ethereum is also used to power decentralized applications on the blockchain known as dApps.

You can think of Ethereum as an app store.

Instead of tracking your calories and optimizing your sleep schedule, the apps on Ethereum allow you to trade cryptocurrencies, take out crypto loans, buy NFTs, and much more. 

Ethereum has had a massive impact on the crypto industry. 

The platform powers much of decentralized finance (DeFi). It’s also home to most non-fungible tokens (NFTs) and most decentralized apps (dApps).

This vibrant ecosystem has helped Ethereum become the #2 most popular cryptocurrency after Bitcoin. 

Ethereum’s many use cases lead some to believe that it may one day surpass Bitcoin as the most valued cryptocurrency.

Which blockchain allows for the creation of decentralized applications?

“It's clear to me now that Ethereum is the new currency of the Internet.”

Gil Penchina

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