Ethereum

In short: Ethereum is a blockchain platform with smart contracts and the cryptocurrency Ether (ETH).

In more detail: Vitalik Buterin and others launched it in 2015. Programs (smart contracts) that execute automatically run on Ethereum.

In Depth

Use

Decentralised finance (DeFi), NFTs, tokens. Every action costs fees (“gas”).

Energy

In September 2022 Ethereum switched from proof of work to proof of stake (“The Merge”) and cut electricity consumption by over 99 percent. See crypto mining.

Risks

Errors in smart contracts can lead to losses. See cryptocurrencies, Bitcoin.

See also: Cryptocurrencies, Bitcoin, Crypto Mining