What currency is Ethereum?

Ethereum is a digital currency (Ether) and a blockchain platform that allows developers to build and deploy distributed applications. Key features include: Digital Currency: Ether is used to pay transaction fees and reward miners. Blockchain platform: supports smart contracts and can be used to create decentralized applications such as financial services, supply chain management, games, and identity management. Turing Completeness: The Solidity programming language supports more complex smart contract development. Active developer community: Continuously working on improvements and extensions to the platform.

Ethereum: A digital currency and blockchain platform

Ethereum is a digital currency and a decentralized blockchain platform that allows developers to build and deploy distributed applications (dApps) on it.

As a digital currency

Ethereum (ETH) is the native digital currency of the Ethereum blockchain. It is used to pay transaction fees and reward miners for maintaining the network. Ethereum ranks second in the cryptocurrency market, behind Bitcoin.

As a blockchain platform

The Ethereum blockchain is a shared ledger built on decentralization principles. It allows developers to create smart contracts, which are computer programs that execute automated agreements on the blockchain.

Smart contracts can be used in various applications, such as:

• Financial Services: Create decentralized lending platforms, exchanges and derivatives markets.
• Supply Chain Management: Track shipments, ensuring transparency and accountability.
• Games: Develop blockchain-based games that provide verifiable ownership and transparent transactions.
• Identity Management: Establish a digital identity system to provide secure and privacy-protecting credentials.

Unlike other blockchain platforms, Ethereum supports the Turing-complete programming language Solidity. This enables developers to create more complex and powerful smart contracts.

Additionally, Ethereum has an active developer community that is constantly working on improvements and expansions to the platform.

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