GlossaryBeginner
Ethereum
A public blockchain for transactions and programmable applications, with ether as its native asset.
Ethereum is a public blockchain that records transactions and runs programs called smart contracts. Ether, or ETH, is the network's native asset and is used to pay for computation and data storage.
Applications built on Ethereum can manage tokens, exchanges, lending systems, and other rules through code. The network uses proof of stake to coordinate block production and validation.
Examples
- A user pays a gas fee in ETH when interacting with many Ethereum applications.
- A smart contract deployed on Ethereum can keep its rules and transaction history publicly inspectable.