Finance glossary
Ethereum
Definition
A blockchain platform for smart contracts and decentralized apps.
Ethereum is a programmable blockchain that lets developers build smart contracts and decentralized applications, with Ether as its native currency. It powers most of DeFi and NFTs. In 2022 it shifted from energy-intensive mining to proof of stake in an upgrade called the Merge.
In a sentence
Developers built their app on Ethereum, paying fees in Ether to run its smart contracts.
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