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About Ethereum

Ethereum is the leading smart contract platform. The Ethereum (ETH) cryptocurrency was the first of its kind to introduce programmable blockchain functionality. Launched in 2015 by a group led by Vitalik Buterin, Ethereum serves as the foundation for the decentralized finance and NFT ecosystems. Like Bitcoin, it operates as an open-source project without a centralized authority. A global community of developers constantly works on upgrading the network.

How does Ethereum work?

The Ethereum network is a decentralized global computer that operates without a central server, government authority, or middleman. Instead, it uses a Proof-of-Stake consensus mechanism where validators pledge capital to secure the network and process transactions. This distributed system allows for "smart contracts" code that executes automatically. Each node plays an important role in storing the state of the network. Because the ledger is distributed across thousands of nodes, no single entity controls the platform.

How to store Ethereum ?

Storing Ethereum requires a digital wallet that interacts with the blockchain network without a central bank, government authority, or middleman. Instead, it uses a pair of cryptographic keys: a public address for receiving funds and a private key for signing transactions. This ensures that only the key holder can access the assets. Users can choose between software wallets for convenience or hardware wallets for security. Because the private keys are the only way to access funds, there is no central support to reset passwords.