What is Ethereum

At its core, Ethereum is an open-source, decentralized blockchain platform that enables developers to build and deploy smart contracts and DApps. While Bitcoin focuses on enabling peer-to-peer transactions and being a store of value, Ethereum takes a step further by providing a decentralized computing platform, essentially creating a "world computer."
One of Ethereum's most significant innovations is the concept of smart contracts. Smart contracts are self-executing agreements with predefined rules and conditions written directly into the code. These contracts automatically execute when the predetermined conditions are met, ensuring trust, transparency, and security without relying on a central authority. Smart contracts eliminate the need for intermediaries, reducing costs, and enabling the development of decentralized applications.
Ethereum's platform allows developers to build decentralized applications, known as DApps, on top of the blockchain. DApps leverage the underlying infrastructure of Ethereum, including its smart contracts, to create applications that operate autonomously without a central authority controlling them. DApps have the potential to disrupt various industries, including finance, supply chain management, gaming, and social media, by eliminating the need for intermediaries and introducing transparent and secure systems.
Ethereum has its native cryptocurrency called Ether (ETH). Ether plays a vital role in the Ethereum ecosystem. It serves as both a medium of exchange and a means to power the platform. Users pay transaction fees in Ether to execute actions and deploy smart contracts on the network. Additionally, Ether is used as an incentive for miners who validate and secure transactions, maintaining the integrity of the blockchain.