What Is Ethereum? Meaning & Example
Definition
Ethereum is a blockchain platform that runs smart contracts and powers many decentralized applications. Its native coin is used to pay transaction fees.
Related terms
A smart contract is a program stored on a blockchain that runs automatically when set conditions are met. It powers DeFi, NFTs and many other applications.
Gas FeeA gas fee is the cost paid to process a transaction or run a smart contract on certain blockchains. Fees rise when the network is busy.
Proof of StakeProof of stake is a consensus method where validators lock up coins as collateral to help secure a blockchain. Misbehaving validators can lose part of their stake.
What is Ethereum?
Ethereum is a blockchain platform that runs smart contracts and powers many decentralized applications. Its native coin is used to pay transaction fees.
Can you give an example of Ethereum?
Many DeFi apps and NFTs are built on Ethereum.