Ethereum was created in 2014 by Vitalik Buterin. It is the second most capitalized cryptocurrency on the market, behind Bitcoin. At first glance, the Ethereum blockchain works on the same model as Bitcoin, as it is based on the open-source principle and requires the computing power of computers to validate transactions, which is called proof of work. The Ethereum network is also decentralized.
Ethereum allows you to do more than just monetary transactions.
Unlike the classic operation of the Internet, the centralized servers to which one connects to retrieve information or data are replaced by “nodes”, which are actually computers of people located all over the world who voluntarily contribute to the proper functioning of the protocol. In this sense, Ethereum could be defined as a decentralized “global computer”.
In reality, Ethereum’s functionalities go beyond that of Bitcoin, which was essentially designed for currency exchange. Ethereum allows more complex operations. This is where the notions of “gas” and “smart contracts” come into play, which are essential to understanding Ethereum’s potential.