Ethereum is the world’s first programmable blockchain.
Ethereum has its own cryptocurrency, Ether (symbol: ETH). But the platform is more famously known as being the first blockchain platform to power smart contract technology.
Smart contracts make it possible to verify deals between multiple parties without any third-party governance. They also enable a decentralized financial system. Ethereum also lets developers build decentralized applications on its network, also known as dApps.
Ethereum has become one of the most popular blockchains in the world thanks to the following characteristics:
- Programmable — developers can build apps on Ethereum using its native programming language, Solidity
- Open-source — Ethereum’s codebase is publicly available, making it easy for developers to access it and enhance their own applications
- Well supported — the network has one of the strongest communities, ensuring developers and businesses can find the support they need if they use it
If Bitcoin seeks to solve the question of decentralized currency, Ethereum takes the next step in solving decentralized contracts. It helps businesses build scalable platforms that don’t rely on third-parties.
Ethereum is the blockchain that Elitium uses.
