What is Ethereum?

Ethereum launched in 2015 as a decentralized, blockchain-based global supercomputer to serve as the foundation for an ecosystem of interoperable, decentralized applications (dApps) powered by token economies and smart contracts. Assets and applications designed on Ethereum are built with self-executing smart contracts that remove the need for an intermediary. The network is fueled by its native cryptocurrency ether (ETH), which is used to pay network transaction fees. Open source, programmable, private, and censorship resistant, Ethereum forms the backbone of a decentralized internet, which has already spawned innovations like Initial Coin Offerings (ICOs), stablecoins, and decentralized finance (DeFi) applications.