What Is Ethereum?
An introduction to the technology behind smart contracts, NFTs, and more.
Ethereum is more than just a cryptocurrency—it’s a technology platform that powers thousands of decentralized applications (dApps) and digital assets. Whether you’re curious about NFTs, DeFi, or smart contracts, it all starts with understanding Ethereum.
Here’s what you need to know.
The Basics: Ethereum at a Glance
Ethereum is a blockchain-based platform that lets developers build and run decentralized applications. It's open-source and built on the idea of a smart contract—a digital agreement that runs exactly as programmed, without intermediaries.
The native cryptocurrency of Ethereum is called Ether (ETH). You’ll often see the terms Ethereum and Ether used interchangeably, but they’re not the same:
Ethereum = the platform
Ether (ETH) = the currency that powers it
ETH is used to pay transaction fees and reward participants who help secure the network.
How Ethereum Works
Ethereum runs on a decentralized network of computers (called nodes) that work together to validate and record transactions. Every time you interact with a smart contract—whether it’s minting an NFT, sending tokens, or borrowing crypto—you're triggering code on the Ethereum blockchain.
In September 2022, Ethereum upgraded from a proof-of-work to a proof-of-stake model. This shift drastically reduced energy consumption and opened the door for faster, more scalable upgrades.
What Makes Ethereum Different?
Ethereum introduced several features that changed the way people use blockchain:
Smart contracts: Self-executing code that automates agreements
Decentralized finance (DeFi): Borrow, lend, and trade crypto without banks
NFTs: Own and trade digital collectibles with verified authenticity
dApps: Apps that run on the blockchain, not centralized servers
Together, these tools are building blocks for a more open and programmable internet—often referred to as Web3.
Why People Use Ethereum
Ethereum is widely adopted across crypto ecosystems for several reasons:
Innovation: Many new blockchain technologies launch on Ethereum
Security: A large and active community helps keep the network secure
Liquidity: ETH is one of the most traded cryptocurrencies worldwide
Flexibility: Developers can build almost anything on the platform
Whether you're investing in ETH or just exploring the space, Ethereum is a core part of the crypto world.
How ETH Fits into walllet
With walllet, you can buy, sell, and hold ETH directly from your app—alongside other cryptocurrencies. ETH can also be used in DeFi tools, swapped for tokens, or stored as part of your long-term portfolio.
We’ve made it simple to access the Ethereum ecosystem—without the complexity.
Final Thoughts
Ethereum is more than a digital coin—it’s the foundation for decentralized technology. From smart contracts to NFTs and beyond, Ethereum continues to push boundaries in how we interact online.
If you're ready to explore Ethereum, walllet gives you the tools to get started—safely, clearly, and on your own terms.
