Ethereum is a decentralized, open-source blockchain platform. Its native cryptocurrency, Ether (ETH), is second only to Bitcoin in market capitalization. Conceived in 2013 by Vitalik Buterin, with other founders including Gavin Wood, Charles Hoskinson, Anthony Di Iorio, and Joseph Lubin, its development was crowdfunded in 2014, and the network went live on July 30, 2015. Ethereum enables the deployment of decentralized applications (dApps) and smart contracts. A smart contract is a digital agreement written in computer code that lives on Ethereum's blockchain. It automatically does something when certain conditions are met. Ethereum transitioned its consensus mechanism from Proof-of-Work (PoW) to Proof-of-Stake (PoS) on September 15, 2022, with "The Merge," reducing energy consumption. Ethereum is maintained by thousands of individuals and organizations globally.
Ethereum's 2024 roadmap focuses on six key components: the Merge, the Surge, the Scourge, the Verge, the Purge, and the Splurge, representing ongoing efforts to optimize performance and capabilities. Key features include enabling decentralized finance (DeFi) applications, the creation of fungible (ERC-20) and non-fungible tokens (NFTs), and smart contracts that manage digital assets. As of February 10, 2026, the price of Ether (ETH) is approximately $2,031.24. Ethereum reached its all-time high on August 23, 2025, at $4,955.3 USD. Approximately 121 million ETH are in circulation. Ethereum does not have a fixed supply cap, but a portion of transaction fees are burned, which may slow issuance rates.
