What is Ethereum blockchain

Ethereum blockchain is a decentralized platform that enables developers to build and deploy smart contracts and decentralized applications (DApps). It was proposed by Vitalik Buterin in late 2013 and development was crowdfunded in 2014, with the network going live on July 30, 2015.
Here are some key aspects of the Ethereum blockchain:

1. Smart Contracts: Ethereum introduced the concept of smart contracts, which are self-executing contracts with the terms of the agreement directly written into code. Smart contracts automatically enforce and execute these terms when certain conditions are met, without the need for intermediaries.
2. Decentralized Applications (DApps): Ethereum allows developers to create decentralized applications (DApps) that run on the blockchain. These applications can range from financial services and decentralized exchanges to gaming and social media platforms.
3. Ether (ETH): Ether is the native cryptocurrency of the Ethereum blockchain. It is used to compensate participants who perform computations and validate transactions on the network (known as miners or validators), as well as to pay for transaction fees and deploy smart contracts.
4. Blockchain Protocol: Ethereum blockchain operates as a distributed ledger, meaning that data is stored across a network of computers (nodes) rather than on a single centralized server. This decentralization ensures transparency, security, and immutability of transactions.
5. Proof of Work (PoW) and Transition to Proof of Stake (PoS): Initially, Ethereum used a Proof of Work (PoW) consensus mechanism similar to Bitcoin, where miners compete to solve complex mathematical puzzles to validate transactions and add new blocks to the blockchain. However, Ethereum is in the process of transitioning to a Proof of Stake (PoS) consensus mechanism with the Ethereum 2.0 upgrade. In PoS, validators are chosen to create and validate new blocks based on the amount of cryptocurrency they hold and are willing to "stake" as collateral.
6. Ethereum Virtual Machine (EVM): Ethereum Virtual Machine is a runtime environment that executes smart contracts on the Ethereum network. It allows developers to write smart contracts in various programming languages such as Solidity, Vyper, and LLL.

Overall, Ethereum blockchain has emerged as a foundational technology for building decentralized applications, enabling a wide range of use cases across industries and driving innovation in the blockchain space.