Ethereum is a decentralized, open-source blockchain platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference. These smart contracts are powered by Ether, the native cryptocurrency of the Ethereum platform.
Ethereum was created in 2015 by Vitalik Buterin, a programmer and researcher who was involved in the development of Bitcoin. However, while Bitcoin was designed primarily as a cryptocurrency, Ethereum was intended to be a more general-purpose blockchain that could be used to build a wide range of decentralized applications (dApps).
Ethereum is often referred to as a “world computer” because it allows anyone to run code on its blockchain in a decentralized manner. This makes it possible to build and deploy a wide range of applications on the Ethereum platform, ranging from financial applications and prediction markets to games and social networks.
benefits to investing in Ethereum IN 2023
Ethereum [ETH] is providing infrastructure to Defi ecosystem that help in building many dapps which will make system more transparent and trustworthy
Ethereum has the largest developer community and ecosystem of any blockchain platform, which can make it more attractive to users and developers, and therefore more valuable.Many developers are developing apps on the Ethereum ecosystem, and millions of users are using it. Many game developers are also developing games on the Ethereum ecosystem. Recently, Ethereum moved from proof of work to proof of stake, and is working on reducing the transaction fee, which will further attract more developers.
Ethereum is used for a wide range of applications, including finance, gaming, prediction markets, Identity ecosystem like ENS,for example vitalik.eth since ENS allows users to have usernames. Users can demonstrate their individuality as people using Proof of Humanity and other proof-of-personhood systems, which is helpful for various purposes, such as airdrops and governance. This means that it has the potential to be more resilient to changes in any one specific use case.
Ethereum is designed to be easily upgradeable through the use of smart contracts, which allows it to adapt to changing requirements and use cases.You can bridge Ethereum to multiple network, many other projects are designing product in such a way that users can easily move asset to ethereum ecosystem.
Strong developer support: As mentioned, Ethereum has a large and active developer community, which can help ensure that the platform continues to evolve and improve over time.Many stable coins like USDT DAI AND USDC is build on Ethereum ecosystem which will make ethereum very strong.Millions of transaction are processed using Ethereum blockchain and in upcoming year we will see more growth on eth ecosystem.
Decentralized autonomous organization (DAO) on Ethereum ecosystem – DAOs are designed to be decentralized, meaning that they are not controlled by any single individual or entity, but rather are run by a network of participants who follow a set of predetermined rules.DAOs are often created to manage a specific project or platform, and they use smart contracts to automate decision-making and other processes. DAOs can be used for a wide range of purposes, such as decentralized funding platforms, prediction markets, and more.
Potential for growth: Some investors see Ethereum as a potentially lucrative investment due to its strong network effects and diverse use cases, as well as its potential for further adoption and growth.