Ethereum

Ethereum is a decentralized blockchain network, started in 2013. Its native cryptocurrency is a token called Ether, aka ETH which is pronounced “Eee-th. You can use ETH to trade and stake digital currencies, as well as participate in the network. Ethereum’s network is powered by technology called smart contracts. 

A smart contract is a digital agreement written in computer code that lives on Ethereum's blockchain. It automatically does something when certain conditions are met. For example, If you send me 1 ETH, the smart contract instantly sends you a digital artwork that I created. No human needs to be there to make it work, the smart contract follows the rules it was programmed with.

Ethereum's blockchain network is a huge, secure, evergrowing ledger of smart contract transactions, which everyone can see, and is immutable. Once a traditional smart contract is created, it can't be altered. These types of smart contracts will always follow the original rules that they were programmed with. Upgradable smart contracts allow for changes to be made, adapting to new requirements, or fixing bugs.

As of May 2025, decentralized finance (DeFi) dapps are the most popular use for Ethereum’s smart contract technology. DeFi dapps allow you to buy, sell, trade, and stake digital assets, like ETH, without the need for an intermediary, such as a bank. DeFi has led to the creation of a financial ecosystem that is a global, accessible alternative to traditional finance (TradFi).