Mar 16, 2022
Ethereum Explained in 60 Seconds
Ethereum is the second-biggest cryptocurrency by market cap after Bitcoin. It is also an open-source, public, blockchain-based distributed computing platform and operating system featuring smart contract functionality.
Ethereum is essentially a “world computer” that can be used to build decentralized applications. It uses the language of code to create smart contracts — self-executing contracts with the terms of the agreement between parties written in code.
It was created by Vitalik Buterin, who wanted to build a decentralized platform for applications that would work without any central control. Ethereum set out to build a new kind of global, decentralized computing platform that takes the security and openness of blockchains and extends those attributes to a vast range of applications. Ethereum is indispensable in the Decentralized Finance (DeFi) universe.
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