Lesson 2: What is Ethereum?

Ethereum (ETH) is one of the most prominent cryptocurrencies and blockchain platforms, distinct from Bitcoin due to its broader functionality and innovative technology. Launched in 2015 by Vitalik Buterin, Ethereum serves as a decentralized platform specifically designed to create and run smart contracts and decentralized applications (DApps).

Unlike Bitcoin, which primarily functions as digital money, Ethereum's main feature is the ability to execute smart contracts—automated agreements coded directly into its blockchain. This capability allows for diverse applications beyond simple value transfers, such as decentralized finance (DeFi), gaming, and digital identity verification.

Ethereum also stands apart from Bitcoin due to its transition to a more energy-efficient consensus mechanism known as Proof-of-Stake (PoS). This shift significantly reduces Ethereum's energy consumption compared to Bitcoin's Proof-of-Work (PoW) model.

You can learn more about Ethereum's foundational technology by reading its original white paper by Vitalik Buterin here: Ethereum White Paper.

At Movo, Ethereum is among the supported cryptocurrencies, allowing you to manage and utilize this innovative blockchain securely and efficiently.