Ethereum is an open, decentralized blockchain network and software platform designed to run smart contracts—programs stored on the network that execute according to their code. Ethereum refers to the network and its shared computing environment, while ether (ETH) is its native asset. ETH is used to pay transaction and computation fees, stake in support of network security, and transfer value within Ethereum-based applications.
Vitalik Buterin conceived Ethereum in late 2013 and wrote the original whitepaper. The early founding group expanded to eight co-founders: Buterin, Gavin Wood, Joseph Lubin, Jeffrey Wilcke, Mihai Alisie, Anthony Di Iorio, Amir Chetrit, and Charles Hoskinson. Their contributions included protocol design, client software, funding, organizational work, and the creation of Ethereum’s early technical specifications. The Ethereum Foundation was established in Switzerland in 2014, a crowdfunding campaign supported development, and the network launched on July 30, 2015.
Ethereum provides permissionless infrastructure for developers to create composable tokens and decentralized applications. Its major use cases include decentralized finance, stablecoins and payments, digital collectibles and other tokenized assets, gaming, decentralized organizations, identity systems, and settlement for layer 2 networks. Users typically interact through a wallet, while developers deploy applications to the Ethereum Virtual Machine. No founder or company owns the network; protocol changes are coordinated through open-source development, Ethereum Improvement Proposals, client teams, node operators, and validators.