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Ethereum is a blockchain platform founded by Vitalik Buterin in 2015 that is decentralized and open-source. Its primary function is to facilitate the development of smart contracts and DApps, thanks to its EVM (Ethereum Virtual Machine), which is responsible for executing code in a decentralized and secure manner, making it possible for developers to create complex DeFi applications.

Ethereum’s smart contracts are self-executing agreements that can automatically perform certain actions when predetermined conditions are met. This functionality can automate a diverse range of tasks, including those related to financial instruments and simple transactions. Ether (ETH) is Ethereum’s own token, which is used to pay transaction fees and compensate miners for processing transactions on the network.