Ethereum, or ETH for short, is one of the most popular cryptocurrencies today. It was developed in 2014 by a group of engineers led by Vitalik Buterin, a programmer and expert in the field of blockchain.
In addition to being a cryptocurrency, Ethereum is also the name of the platform on which this coin operates. Ethereum allows developers of decentralized applications (DApps) and smart contracts to create their own products. The Ethereum coin serves as a means of exchange, payment of transaction fees, or other investment activities.
Throughout its operation, Ethereum has been mined using the Proof-of-Work (PoW) algorithm. However, by the end of 2022, this coin has successfully implemented a plan to transition to the Proof-of-Stake (PoS) mechanism to improve transaction processing performance and reduce energy consumption. One special feature of ETH is that it supports smart contracts, allowing transactions to be automatically executed according to predetermined terms without the need for intermediaries, reducing transaction costs, and increasing security and transparency.