Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps). It was created in 2015 by Vitalik Buterin, a Russian-Canadian programmer.

Like Bitcoin, Ethereum is a blockchain-based platform that uses cryptography to secure its transactions. However, unlike Bitcoin, which was designed primarily as a digital currency, Ethereum was designed to be a platform for building decentralized applications.

One of the key features of Ethereum is its use of smart contracts, which are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. These smart contracts can be used to facilitate, verify, and enforce the negotiation or performance of a contract.

Ethereum operates using a cryptocurrency called Ether, which is used to pay for transactions on the network. Ether can also be traded on cryptocurrency exchanges, like other cryptocurrencies.

Ethereum is often referred to as a “world computer,” as it allows developers to build and deploy decentralized applications that can run on the Ethereum platform. These applications are not controlled by any single entity, but rather operate on a decentralized network of computers, making them resistant to censorship and fraud.

Overall, Ethereum is a powerful and versatile platform that is driving innovation in the fields of smart contracts and decentralized applications.