What is ETH/Ethereum?

Ethereum is the largest blockchain in the world - an interconnected system for anyone to use globally.

🔍 Summary

At its core, Ethereum is a distributed ledger that uses blockchain to securely record transactions. Unlike traditional centralized systems, Ethereum introduces smart contract functionality — allowing developers to create applications with built-in, automated logic that executes in a trustless, decentralized environment.

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🌍 Why Does Ethereum Matter?

Ethereum is important because it enables a borderless digital economy.

With nothing more than an internet connection, anyone in the world can:

• Access decentralized financial services (DeFi)

• Participate in blockchain-based games or communities

• Buy, sell, or create NFTs

• Use apps without relying on banks, governments, or third parties

🔒 Ethereum removes the need for middlemen — ensuring transactions are secure, censorship-resistant, and verifiable on-chain.

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⚙️ What Are Smart Contracts?

Despite the name, smart contracts aren’t legal agreements — they’re lines of code stored on the blockchain.

• A smart contract executes automatically when pre-defined conditions are met

• It produces the same result for everyone, every time

• Think of it like a vending machine: insert a token, get a snack — no human approval needed

Smart contracts are what make NFTs, DeFi, and DApps possible.

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🧱 What Are Decentralized Applications (DApps)?

DApps are blockchain-based applications that run on smart contracts. These can include:

• 🎮 Games

• 🖼️ Digital collectibles (like NFTs)

• 🗳️ Online voting systems

• 💸 Financial tools like lending, staking, and exchanges

Because Ethereum is Turing-complete, developers can build virtually any kind of application — limited only by their creativity and technical skills.

Taken from https://docs.ethhub.io/ethereum-basics/what-is-ethereum/ EthHub is a great resource for anyone to use to learn all about Ethereum and blockchain. Check it out!