Ethereum
ELI5 - The Vibe Check
Ethereum is a blockchain that does more than just move digital money around, it lets you run actual programs, called smart contracts, on a decentralized network of computers that nobody controls and nobody can unilaterally shut down. Bitcoin is basically a spreadsheet of who owns what; Ethereum is a spreadsheet that can also run code.
Real Talk
Ethereum is a decentralized, blockchain-based platform that supports Turing-complete smart contracts executed on the Ethereum Virtual Machine (EVM), distinguishing it from Bitcoin's more limited scripting model. It uses ETH as its native currency for transaction fees, called gas, and, since The Merge in 2022, secures the network through proof-of-stake validators rather than proof-of-work mining.
When You'll Hear This
"The NFT contract is deployed on Ethereum mainnet, gas fees were brutal that week." / "We're testing on an Ethereum testnet before we touch real funds."
Related Terms
Blockchain
A digital ledger that nobody owns but everyone can verify.
DeFi (Decentralized Finance)
Banking without banks. Lending, borrowing, trading, and earning interest — all through smart contracts instead of institutions.
Smart Contract
Code that runs on a blockchain — once deployed, nobody can change it (which is either amazing or terrifying).
Web3
The idea that the next internet should be decentralized — owned by users, not big companies.