---
title: Ethereum
url: "https://www.unknowngravity.com/en/glosario/ethereum"
site: Unknown Gravity
published: "2025-06-07T15:39:45+00:00"
modified: "2026-07-15T10:51:28+00:00"
language: en-US
description: "Ethereum It's a public, open-source and programmable blockchain, designed to execute smart contracts that allow you to build decentralized applications (DApps) securely, autonomously and without the…"
section: "Home > Ethereum"
---

# Ethereum

GLOSSARY · BLOCKCHAIN & WEB3

Blockchain platform that allows you to create and execute smart contracts and dApps.

WHAT IS IT? · FOR DUMMIES

**Ethereum** is like a huge computer that lives on the internet, but that no one completely controls. Anyone can create programs on it, called smart contracts, that run on their own without the need for banks, companies or governments. With Ethereum you can do things like send money, create video games, sell digital art or vote, all securely and without intermediaries.

WHAT IS IT? · PRO

**Ethereum** It's a **public, open-source and programmable blockchain**, designed to execute **smart contracts** that allow you to build decentralized applications (**DApps**) securely, autonomously and without the need for trusted third parties. Unlike Bitcoin, which is optimized solely for value transfers, Ethereum was conceived as a platform **Turing-complete**, which means that it can execute any computational logic defined by the developer.

Its infrastructure is based on the **Ethereum Virtual Machine (EVM)**, a decentralized execution environment that processes code in **Solidity** or other compatible languages. Ethereum allows you to create and deploy tokens (ERC-20, ERC-721, ERC-1155), DAOs, NFT marketplaces, DeFi protocols, digital identities, voting systems and much more. Your network is currently secured with a **Proof of Stake (PoS) consensus mechanism** after the “The Merge” event, which has made it possible to drastically reduce its energy consumption.

Ethereum is also a pioneer in the concept of **programmable economy**, where contracts act as self-executing rules to exchange value, activate functions, establish rights or access services. Thanks to its active community, network of developers, open standards and high degree of institutional and retail adoption, Ethereum has become the base layer of the Web3 ecosystem. Its evolution is guided by periodic improvements (EIPs), which seek to scale the network (with solutions such as sharding and Layer 2), increase efficiency and improve the user experience.

## 01 / Key points

- It is a public and decentralized blockchain
- Supports programmable smart contracts in Solidity
- Allows you to create tokens, DApps, DAOs, NFTs and DeFi platforms
- It operates on the Ethereum Virtual Machine (EVM)
- Use Proof of Stake as a consensus mechanism

## 02 / Advantages

- **Unparalleled versatility** to develop decentralized applications
- **Extensive community of developers and tools** available
- **Well-defined and adopted technical standards** (ERCs)
- **Robust ecosystem** of infrastructure, wallets and marketplaces
- **Active support for ongoing improvements and future scalability**

## 03 / Disadvantages

- **High commissions (gas fees)** In times of congestion
- **Technical complexity** for novice users and developers
- **Scalability issues** in the base layer (in continuous improvement phase)
- **Regulatory risks in certain jurisdictions** for financial use of contracts
- **Increasing competition** of other programmable blockchains with more efficient approaches

RELATED CONCEPTS

[Smart contract](/en/glosario/smart-contract) [EVM (Ethereum Virtual Machine)](/en/glosario/evm-ethereum-virtual-machine) [Token](/en/glosario/token) [Solidity](/en/glosario/solidity) [Layer 2](/en/glosario/layer-2-capa-2)

KEEP LEARNING

[Bitcoin vs Ethereum: what are the differences between these cryptocurrencies?](/en/articulos/bitcoin-vs-ethereum) [How to create your own blockchain-based cryptocurrency](/en/articulos/crear-tu-propia-criptomoneda-blockchain) [Comparison of smart contracts programming languages](/en/articulos/lenguajes-programacion-smart-contracts) [Which blockchain suits me? A clear comparison of Ethereum, Arbitrum and Base](/en/articulos/que-blockchain-me-conviene-comparativa-clara-entre-ethereum-arbitrum-y-base) [Tokenomics that work: How to design an economy that doesn't collapse in 6 months](/en/articulos/tokenomics-que-funcionan-como-disenar-una-economia-que-no-se-derrumbe-en-6-meses)

RELATED SERVICES

[Development for Ethereum (EVM)](/en/servicios/desarrollo-para-ethereum-evm) [Development of smart contracts](/en/servicios/company-development-smart-contracts) [Token development](/en/servicios/desarrollo-de-tokens) [Blockchain consulting for companies](/en/servicios/consultoria-blockchain) [Token issuance](/en/servicios/emision-de-tokens)

[Full glossary](/en/glosario)

This entry is informative. It is not legal, tax or investment advice. The rules cited change: check the current version on [BOE](https://www.boe.es) and [EUR-Lex](https://eur-lex.europa.eu).