Ethereum is a decentralized, open-source blockchain network that allows developers to build and run smart contracts and decentralized applications (dApps). Unlike Bitcoin, which is primarily designed for payments, Ethereum is a general-purpose platform that supports a wide range of use cases, including decentralized finance (DeFi), NFTs, gaming, and more.
Ethereum acts as the base layer, often called Layer 1, for many other blockchain networks. It prioritizes security, decentralization, and reliability, which makes it a trusted foundation for newer scaling networks built on top of it.
Network Token
ETH (Ether)
ETH is used to pay for transaction fees, also known as gas, and for computation on the Ethereum network. Any action on Ethereum, such as sending tokens or interacting with a smart contract, requires ETH.
Because Ethereum prioritizes security and decentralization, transactions on Ethereum can be more expensive during periods of high network activity. This is one reason Layer 2 networks exist, to make Ethereum faster and cheaper while still relying on it for security.
Learn More
If you’re new to Ethereum or want a deeper understanding of how the network works, you can explore Learn About Ethereum, an educational resource created by the Ethereum Foundation. It covers core concepts like transactions, wallets, and decentralized applications, with both beginner-friendly and more advanced explanations.