Ethereum $ETH

Ethereum is a revolutionary, open-source platform designed for the creation and operation of decentralized applications (dapps). It aims at establishing a globally accessible 'world computer', enabling developers to build applications in a completely decentralized way with all states and data extensively distributed and available to the public. Ethereum is particularly noted for its support of smart contracts, a fundamental aspect that allows developers to code and programmatically control digital value.

Decentralized Applications on Ethereum

Many types of decentralized applications have been built on the Ethereum platform. These include tokens, non-fungible tokens (NFTs), decentralized finance apps, lending protocols, decentralized exchanges, and several others. Each of these applications benefit from the inherent security and transparency features of the Ethereum blockchain, contributing to the increasing adoption and popularity of the platform.

Ethereum's Smart Contracts

Smart contracts are self-executing contracts where the terms and conditions are written in code. On Ethereum, this code can be developed to control digital value. This ability to program digital value makes Ethereum a versatile platform for the development of various types of applications, from simple transfers of assets to complex decentralized applications.

Gas and Ether on Ethereum

Transactions and smart contract executions on Ethereum require a small fee, known as 'Gas'. Gas represents the measurement of the computational effort required to carry out an operation or execute a smart contract. As the complexity of an operation increases, more gas is required. Gas fees are paid exclusively in Ether (ETH), the native cryptocurrency on Ethereum blockchain. The price of gas may vary periodically depending on the network demand.