An open, public network for shared digital records and applications.
No single organization operates or controls the network.
Read the guide (PDF, 1.4 MB) (opens in a new tab)Ethereum is a public blockchain network, while ether (ETH) is the cryptocurrency used to pay transaction fees and help secure the network. Institutions can incorporate Ethereum into their digital infrastructure without requiring people who use their services to purchase or hold ETH.
These characteristics shape how Ethereum can be used as digital public infrastructure:
Anyone can use Ethereum or build on it. There is no central owner or operator that decides who can access the network.
Ethereum’s core software is open source and maintained by independent teams. Anyone can inspect, use, and contribute to the code.
Ethereum also supports smart contracts: programs that run on the network and carry out actions according to rules written into software.
Ethereum is a global network of independently operated computers, called nodes. Together, these nodes maintain a shared digital record and run programs. A request to update or change the shared record is called a transaction. Nodes check each transaction against Ethereum’s common rules and agree on which valid updates become part of the shared record.
The shared record serves a purpose similar to a database, but is maintained across independently operated computers rather than controlled by a single institution.
Because independent nodes maintain the same history, people and institutions can verify it without relying on a central operator.
Ethereum can run programs called smart contracts. The rules a smart contract follows are defined by the people or organizations that design it, including the conditions that must be met and the actions to take when they are met. When triggered by a transaction, a smart contract applies those rules and can, for example, transfer funds or update a shared record.
People or organizations define the conditions a smart contract checks and the actions it takes when those conditions are met
A person or application sends a request that triggers the smart contract
The smart contract checks the conditions and carries out the specified action if they are met
The result becomes part of Ethereum’s shared record
A fuller introduction to Ethereum and how it works