What is Ethereum?

What is Ethereum?

In 2024, startups are thriving, with many leveraging blockchain technology to drive their growth. Ethereum plays a central role in this revolution, acting as the go-to platform for decentralized applications (dApps). If you’re wondering about Ethereum and how you can get involved by purchasing Ether (ETH), this guide will walk you through everything you need to know. We’ll explore what Ethereum is, its significance, and the step-by-step process for buying ETH this year.

Understanding Ethereum

Ethereum is much more than just a digital currency—it’s a blockchain platform designed to enable developers to create and launch decentralized applications (dApps). The platform’s native cryptocurrency, Ether (ETH), powers the network. While Bitcoin mainly functions as a digital currency, Ethereum offers a broader purpose with its focus on smart contracts—automated protocols that execute transactions based on predefined conditions.

The idea for Ethereum was introduced by programmer Vitalik Buterin in late 2013. Development began in early 2014, funded by a crowd sale, and the network officially launched on July 30, 2015. Since then, it has grown into the largest decentralized software platform in the world.