Ethereum (ETH) is a decentralized, open-source blockchain that aims to become a global platform for decentralized applications. As the nonprofit Ethereum Foundation puts it, it "Is for more than payments. It's a marketplace of financial services, games, and apps that can't steal your data or censor you." Ethereum is the second-biggest cryptocurrency by market cap after Bitcoin as of 2023 and a decentralized computing platform that can run a wide variety of applications — including a universe of decentralized finance (or DeFi) apps and services. This platform is powered by its native cryptocurrency, Ether, which is used within the Ethereum network for various operations, making it an integral part of the system.

Ethereum operates through a network of computers that aim to work together as a supercomputer. The network, in its capacity, validates and processes transactions through a system known as mining. Miners, participants in the network, solve complex mathematical problems to confirm transactions, which are then added to the Ethereum blockchain. Ethereum's core innovation, the Ethereum Virtual Machine (EVM), allows for the execution of smart contracts. These are self-executing contracts with the terms of the agreement directly written into lines of code, eliminating the need for a third party. Ethereum also hosts other cryptocurrencies using its ERC-20 compatibility standard, making it a vital player in the blockchain ecosystem.

Ethereum's potential use cases extend beyond the transfer of value. Its platform enables the development of a wide range of decentralized applications (dApps) that operate on its blockchain. These dApps can offer services ranging from games to digital identity systems and from supply chain tracking to complex financial instruments. Ethereum also enables the creation and exchange of non-fungible tokens (NFTs), unique digital assets that can represent ownership of a variety of items and content.

In 2013, a 19-year-old computer programmer (and Bitcoin Magazine co-founder) named Vitalik Buterin released a whitepaper proposing a highly flexible blockchain that could support virtually any kind of transaction. Buterin, along with other co-founders, including Gavin Wood, secured funding for the project with the sale of $18 million in pre-launch tokens in 2014. In July 2015, the first public version of the Ethereum blockchain was launched, and smart contract functionality began to roll out on the Ethereum blockchain. Since its launch, Ethereum has undergone several planned protocol upgrades, known as milestones, which improve the system's functionality, performance, and security. These upgrades are decided by consensus within the community and aim to represent the ongoing development and forward-thinking nature of the Ethereum project. In 2022, Ethereum went through a major upgrade, switching from proof-of-work to proof-of-stake to become a more energy-efficient blockchain.

Ethereum, like Bitcoin, is an open-source project that is not owned or operated by a single individual. Anyone with an internet connection can run an Ethereum node or interact with the network. However, Ethereum differs from Bitcoin in its ability to build and execute smart contracts. Smart contracts enable a vast ecosystem of applications on Ethereum, such as stablecoins (which are pegged to the dollar by smart contract), decentralized finance apps (collectively known as DeFi), and other decentralized apps (or dApps). Ethereum migrated to a Proof-of-Stake consensus mechanism in September 2022. Ethereum is now secured by a global network of validators running Ethereum's software while staking (understand "locking") a certain amount of ETH tokens. Validators earn rewards generated in Ether (ETH) for participating in the process and can have their stake slashed if they violate the rules of the protocol. Anyone with an ETH stake and computer meeting the requirements can become a validator.

Coinbase allows you to stake your ETH. Through Coinbase's built-in staking feature, anyone can stake their ETH (as much or as little as you'd like) in just a few taps. In your Coinbase app, navigate to the ETH asset page. You'll see a prompt to stake your ETH. If you want to sell or send your ETH staked on Coinbase, you can do so by converting it to cbETH, Coinbase's Wrapped Staked ETH token. The price of cbETH is determined by the market and may lose value. cbETH is available in select regions.

Like Bitcoin, Ethereum's price is based on a global marketplace of supply and demand. Its price can be volatile in the short term as demand overwhelms supply and vice versa.

By creating an account on Coinbase, you can buy, send, and receive Ethereum.

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The current market cap of Ethereum is £311.05B. A high market cap implies that the asset is highly valued by the market.

The all-time high of Ethereum is £3,763.97. This all-time high is highest price paid for Ethereum since it was launched.

Over the last 24 hours, the trading volume of Ethereum is £17.351B.

Assets that have a similar market cap to Ethereum include Bitcoin, Tether, XRP, and many others. To see a full list, see our comparable market cap assets.

The current circulating supply of Ethereum is 121 million.