Originated by Vitalik Buterin in 2015, Ethereum is a decentralized, open-source blockchain platform. It provides the ability for developers to make copyright (decentralized applications) and run smart contracts, which a smart contracts first written in code. However, Ethereum was built not only to be a competitor to Bitcoin [created mainly for one radical form of peer-to-peer transactions] but the world’s smart contracts platform and Bitcoin does just two things out of dozens that it can do.
Ether (ETH)—The copyright of the Ethereum network responsible for paying for running or enabling smart contracts on the network, a unit of account run by people in your app, is called ETH. Ethereum is giving very extensive powers to such Decentralized Finance [DeFi] applications, where traditional peer-to-peer lending, borrowing, and trading can now function without the interference of centralized banks!
In 2022, the border valley significantly upgraded, transitioning from a Proof of Work (PoW) consensus mechanism to PoS through “The Merge”. This move has lowered the energy demands of running Ethereum and made it more efficient.
NFTs: Ethereum is the base for NFTs, from digital art and music to virtual real estate, all of which are pretty popular nowadays. Together with decentralized technology, in general, it makes copyright what it is [ through adaptation]. So now you have all come across how really important Ethereum truly is to the world of copyright… right?