What is Ethereum? (in 60 seconds)
Published in
Jan 6, 2021
Ethereum “ETH” is a public blockchain based platform for creating smart contracts (executable code ex. Applications, protocols). Smart contracts facilitate agreements and can automatically execute the terms/ payout. For example, your mom says she will pay you five dollars if you get an “A” on your report card. You could theoretically program an Ethereum smart contract to pay you automatically when the grade is reported. The contract is saved digitally and executes on its own.
Smart contracts can become even more complex by building out applications or protocols that govern themselves. Ethereum was proposed in 2013 by boy genius Vitalik Buterin at the age of 19. Lastly, Ethereum is ranked #2 under Bitcoin by marketcap.
