Ethereum is not just a cryptocurrency—it’s a platform that enables decentralized applications (DApps) to be built on its blockchain. One of its key innovations is the introduction of smart contracts, which are self-executing contracts with the terms directly written into code. Smart contracts automatically execute transactions when predefined conditions are met, eliminating the need for intermediaries like banks or lawyers.
This technology has opened the door for decentralized finance (DeFi), where users can lend, borrow, and trade assets without traditional financial institutions. Ethereum is also transitioning to a proof-of-stake consensus model, making it more energy-efficient and scalable.
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