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What is Ethereum?

Ethereum is a decentralized, open-source blockchain platform that enables developers to build and deploy smart contracts and decentralized applications (dApps). It was proposed in 2013 by Vitalik Buterin and officially launched in 2015.

Key Features of Ethereum

1. Smart Contracts
   Ethereum allows the creation of programmable contracts that automatically execute when certain conditions are met — without the need for intermediaries.

2. Decentralized Applications (dApps)
   Developers can build dApps on Ethereum for various use cases, including finance (DeFi), gaming, NFTs, and more.

3. Ether (ETH)
   The native cryptocurrency of the Ethereum network, ETH, is used to pay for transactions and computational services on the network.

4. Ethereum Virtual Machine (EVM)
   A powerful runtime environment that ensures smart contracts run in a secure and deterministic way across all Ethereum nodes.

5. Proof of Stake (PoS)
   As of 2022, Ethereum transitioned from Proof of Work (PoW) to Proof of Stake (PoS) through the Merge, significantly reducing its energy consumption.

Why Ethereum Matters

• Innovation Hub: Ethereum is the foundation of many innovations in the blockchain space, including DeFi (Decentralized Finance) and NFTs (Non-Fungible Tokens).

• Large Developer Community: Ethereum has the largest ecosystem of developers, tools, and infrastructure.

• Interoperability: It is compatible with other chains and is often integrated in cross-chain applications.

Use Cases of Ethereum

• Decentralized exchanges (e.g., Uniswap)

• NFT marketplaces (e.g., OpenSea)

• Stablecoins (e.g., USDC, DAI)

• Blockchain games (e.g., Axie Infinity)

• Decentralized lending platforms (e.g., Aave, Compound)