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Token page: Ethereum

What is Ethereum? Ethereum, often called "ETH" or "Ether," is a decentralized, open-source blockchain conceived by Vitalik Buterin in 2013 and launched in 2015. As the backbone for decentralized applications (dApps) and smart contracts, Ethereum has earned the title of the World’s Decentralized Operating System or “World Computer.” This status has emerged because, while Bitcoin primarily serves as a digital currency, Ethereum enables an entire ecosystem of decentralized applications, free from

Bankless
Nov 1, 2024 • 12 min read

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Ethereum, often called "ETH" or "Ether," is a decentralized, open-source blockchain conceived by Vitalik Buterin in 2013 and launched in 2015. As the backbone for decentralized applications (dApps) and smart contracts, Ethereum has earned the title of the World’s Decentralized Operating System or “World Computer.” This status has emerged because, while Bitcoin primarily serves as a digital currency, Ethereum enables an entire ecosystem of decentralized applications, free from intermediaries, that can redefine entire industries from finance and gaming to art and fundraising. At Bankless, we see Ethereum as a gateway to a new internet, where we rely less on banks and centralized tech giants — and more on each other. Many people who buy Ethereum don't see it as just an investment. Rather, it’s a stake in a global, self-sovereign ecosystem where finance, governance, and ownership are transparent, borderless, and in the hands of the people.

Ethereum was co-founded by Vitalik Buterin, along with prominent figures like Joseph Lubin (founder of Ethereum-centric company, ConsenSys), Gavin Wood (founder of Polkadot blockchain), and Charles Hoskinson (founder of Cardano blockchain). These early pioneers envisioned Ethereum as a platform beyond digital currency, as one allowing developers to create applications that don’t just sit within the walled gardens of big tech but instead live freely on the blockchain, accessible to anyone, anywhere.

Ethereum is one of the most widely used smart contract platforms, supporting over 4,000 projects and 53 million smart contracts. Given its impact, many investors track the Ethereum price closely, with a growing interest to buy Ethereum as it powers decentralized finance (DeFi), non-fungible tokens (NFTs), and decentralized autonomous organizations (DAOs). Ethereum’s utility and substantial economic value have made ETH a foundational component of the blockchain ecosystem.