What is Ethereum (ETH)?

Official Website: ethereum.org
Definition: Ethereum is a decentralized, open-source blockchain platform that enables smart contracts and decentralized applications (dApps).
Category: Blockchain, Layer 1 chain, Cryptocurrency.
What It Is: A programmable blockchain that allows developers to build and deploy dApps and smart contracts.
Function: Powers decentralized finance (DeFi), NFTs, and other blockchain-based applications.
Analogy: Think of Ethereum as a global computer. Just like a computer runs programs, Ethereum runs decentralized apps.
Pros: Highly versatile, large developer community, supports DeFi and NFTs.
Cons: High gas fees, scalability challenges, competition from other Layer 1 chains.
Controversies: Transition to proof-of-stake (Ethereum 2.0), regulatory scrutiny.