Ethereum is a blockchain-based platform that acts as a payment network as well a platform that can run programs and applications in a decentralized manner. Its native currency is called "ether."
Ether, like most cryptocurrencies, can be received and sent peer-to-peer on a distributed network. Some use the ether as a medium of exchange that is outside the purview of governments, banks, and other legacy controllers of the monetary system.
The ethereum network can also run decentralized applications, or "DAPPs," as well as smart contracts, which have a wide range of potential uses, including, but not limited to:
- Financial contracts
- Non-fungible tokens (NFTs)
- Identity verification
- Reputation building
- Decentralized autonomous organizations (DAO)
- Vote tracking
- Chain of custody solutions
Many of the projects on the ethereum network are experimental, and still in development. You can also bet that there are ideas that are capable of being run with ethereum, but haven't been thought of yet.
Casa offers a solution for long-term storage of your ETH as an investment or payment method.
Not a Casa member yet? You can sign up here.
