What is Ethereum?

Ethereum is indeed a decentralized platform designed specifically for building and deploying smart contracts and decentralized applications (dApps). It provides a programmable blockchain that allows developers to create applications that run on a decentralized network rather than relying on a centralized server. This capability is one of Ethereum's core features, distinguishing it from other cryptocurrencies that primarily focus on transactions.

The Ethereum platform facilitates the execution of smart contracts, which are self-executing contracts with the terms of the agreement directly written into code. This allows for trustless, automated agreements and interactions between parties. The versatility of Ethereum's scripting language, Solidity, enables a wide range of applications, from finance (DeFi) to gaming and supply chain management.

While it does include a native cryptocurrency, Ether (ETH), focused on transaction fees and network services, the primary significance of Ethereum lies in its application layer, where it empowers developers to innovate without the need for intermediary institutions.