ETHs

ETHs, commonly referred to as Ethereum, is a decentralized, open-source blockchain system with smart contract functionality. Launched in 2015, it was conceived by Vitalik Buterin and a team of co-founders. Unlike Bitcoin, which is primarily designed as a peer-to-peer electronic cash system, Ethereum's vision extends beyond currency. It aims to be a world computer, capable of running decentralized applications (dApps) built on its platform.

The native cryptocurrency of the Ethereum network is Ether, also known as ETH. ETH serves multiple purposes within the ecosystem. It is used to pay for transaction fees, known as "gas," which compensates the network's miners or validators for processing and securing transactions. Additionally, ETH can be traded on cryptocurrency exchanges and is used as collateral in various decentralized finance (DeFi) applications.

Ethereum's key innovation is its support for smart contracts. These are self-executing contracts with the terms of the agreement directly written into code. They automatically execute when predetermined conditions are met, eliminating the need for intermediaries and enabling a wide range of applications, from decentralized exchanges and lending platforms to non-fungible tokens (NFTs) and gaming.

The Ethereum network has undergone significant upgrades, most notably the transition from a proof-of-work (PoW) consensus mechanism to proof-of-stake (PoS) with "The Merge." This shift aims to reduce energy consumption and improve scalability and security. The development of Ethereum continues with ongoing efforts to further enhance its capabilities and expand its ecosystem.