What Makes Ethereum Unique?

Ethereum was the first to create a blockchain platform for smart contracts. Smart contracts are programs that automatically carry out actions needed to meet an agreement online. They help lower the need for trusted third parties, which cuts costs and makes transactions more reliable.

Ethereum's major innovation was allowing smart contracts to run on the blockchain. This means they can be more secure and less likely to be tampered with by using a global network of computers.

In addition to smart contracts, Ethereum can also host other digital currencies, called tokens, thanks to a standard called ERC-20. So far, more than 280,000 tokens have been created on the Ethereum platform. Over 40 of these tokens are among the top 100 cryptocurrencies, like USDT, LINK, and BNB. Interest in Ethereum has also grown with the rise of Play2Earn games.