Ethereum is the second most popular cryptocurrency after Bitcoin. It was founded by two developers, Vitalik Buterin and Gavin Woodis in 2015. It is a decentralized network built on blockchain technology. It's also well known for its native cryptocurrency, called Etherium or ETH. According to Ethereum, they are “a global, decentralized platform for money and new kinds of applications”. There are thousands of financial apps and games that run on top of its blockchain. It is the blockchain of choice for developers and enterprises, who are creating technology to change the way many industries operate and are changing the way we go about our daily lives. Since it's decentralized, the network isn't used or managed by any particular centralized entity, instead, it's managed by all the ledger holders. Everyone who participates in the Ethereum network holds an identical copy of this ledger, so they are able to see all harmful past transactions.
Ether is a digital coin that is used in financial transactions and investments. It is stored and exchanged on the Ethereum network. Self-executing contracts, often known as smart contracts, are among the most noteworthy applications of Ethereum. A contract is when two parties agree to supply products or services. Well, contrary to a traditional contract, on the Ethereum blockchain, attorneys are not required. There the parties encode their agreement, it self-executes and sends the relevant party a certain amount of Ether when the contract's requirements are satisfied.
There is a multitude of benefits to Ethereum. It's a well-known and reputable network that has been tested through years of operations. Its vast global community is one of the largest ecosystems in cryptocurrency. The community of developers is constantly looking to innovate, create, and improve its functionality. It already has a wide range of functionalities from being a digital currency to processing other financial transactions, executing smart contracts, and storing data for third-party applications. Finally, being decentralized allows users to avoid third-party intermediaries such as banks, attorneys, web hosting services, etc. As of the beginning of July 2022, the current market cap is $877,771,701,342.895, although it consistently fluctuates.