Topic

What is Ethereum?

By Joshua Baskin, founder · Reviewed October 30, 2026 · Sources

Quick fact 1
Ethereum is a blockchain that runs programs called smart contracts. Its native coin is ether (ETH).
Source: ethereum.org, What is Ethereum?
Quick fact 2
Ethereum moved from proof of work to proof of stake in The Merge on September 15, 2022.
Source: ethereum.org, The Merge

Bitcoin and Ethereum side by side

Education only. Not investment advice. We do not pick coins.

The short lesson

Ethereum is a blockchain, a shared record that thousands of computers keep in sync. Its coin is called ether, or ETH.

Bitcoin was built mainly to send value. Ethereum was built to also run small programs called smart contracts. Those programs power many tokens, apps, stablecoins and NFTs.

Every action on Ethereum costs a small fee, paid in ETH and called gas. Since 2022, Ethereum uses proof of stake: people lock up ETH to help confirm blocks, instead of mining.

What to remember:

Same key rules. Whoever holds the keys controls the ETH.
Smart contracts can have bugs. Code mistakes have cost people money.
Wrong network, lost coins. Many networks look like Ethereum. Check the network before you send.

Lesson game · earn XP

Check yourself: 3 quick questions

Perfect score = combo bonus. Each question returns in your spaced-repetition review.

Memory · spaced repetition

Flashcards: lock it in

Flip each card, then say if you knew it. Missed cards come back sooner.

Common questions

Is Ethereum the same as ether?

Ethereum is the network. Ether (ETH) is its coin.

Does Ethereum still use mining?

No. It moved to proof of stake in September 2022, an event called the Merge.

Reviewed and sources

Written and reviewed by Joshua Baskin, founder. Last reviewed October 30, 2026. How we check facts · Report an error