Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Etherium.
ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts.
Ethereum was first described in a 2013 whitepaper by Vitalik Buterin.
The project team managed to raise $18.3 million in Bitcoin, and Ethereum’s price in the Initial Coin Offering (ICO) was $0.311, with over 60 million Ether sold.
Ethererum was able to create Non-Fungible Tokens (NFTs), which are a unique class of digital assets, related to cryptocurrency but distinct from it.
NFTs 'fingerprint' digital documents, so that you can authenticate them and record ownership — which has created a huge market for digital art.
Ethereum has also been working to reduce the energy requirements for transactions .
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