Ethereum is a decentralized, open-source blockchain platform that was introduced in 2015 by Vitalik Buterin and a team of developers. It was designed to enable the creation and execution of smart contracts, which are self-executing contracts with the terms of the agreement directly written into lines of code.

The Ethereum blockchain is powered by its native cryptocurrency called Ether (ETH). ETH is used to facilitate transactions and incentivize participants to secure and maintain the network through a consensus algorithm known as Proof-of-Stake (PoS). In the past, Ethereum used a consensus mechanism called Proof-of-Work (PoW) similar to Bitcoin, but it has been transitioning to PoS to improve scalability and energy efficiency.

One of the key features of Ethereum is its ability to support the development and deployment of decentralized applications (DApps). DApps are applications that run on the blockchain, enabling developers to create various decentralized services and protocols. Ethereum's programming language, Solidity, allows developers to write smart contracts and build these DApps.

Ethereum has gained significant attention and adoption due to its versatility and potential use cases beyond just being a digital currency. It has become a platform for various decentralized finance (DeFi) applications, tokenization of assets, non-fungible tokens (NFTs), and more. Ethereum's ecosystem also includes a vibrant community of developers, entrepreneurs, and enthusiasts who contribute to its growth and innovation.

It's important to note that Ethereum is constantly evolving, and new upgrades are being introduced to address its limitations and improve its performance. One significant upgrade is Ethereum 2.0, also known as Eth2 or Serenity, which aims to enhance scalability, security, and sustainability through the implementation of the PoS consensus algorithm and shard chains.

Overall, Ethereum has had a significant impact on the blockchain and cryptocurrency industry, providing a platform for decentralized applications and smart contracts that has sparked a wave of innovation and development.