Ethereum is a decentralized platform for applications that run exactly as programmed without any possibility of fraud, censorship or third-party interference. It is an open source, blockchain-based distributed computing platform featuring smart contract functionality. Ethereum enables developers to build and deploy decentralized applications.
An example of an Ethereum application is a decentralized exchange, where users can trade digital assets without the need for a middleman or a centralized exchange. This type of application is powered by Ethereum’s smart contracts, which are pieces of code that execute automatically when certain conditions are met.