What is Ethereum?
Ethereum is an open-source, blockchain-based distributed computing platform that runs smart contracts. In other words, Ethereum is a blockchain with a built-in programming language that allows people to build applications on top of it. To pay for operations run on the Ethereum network, people use Ethereum’s cryptocurrency, called Ether.
Why buy Ethereum (ETH)?
Today, the Ethereum blockchain is used to power applications that do everything from automate financial services (such as lending and borrowing) to enable blockchain versions of traditional currencies (like USD-C and Paxos Standard).
As these crypto assets run on Ethereum, they need to buy and spend ether to use Ethereum’s computing network, creating demand for the asset. This has given rise to the idea that ether is akin to a digital oil, a finite resource that must be used to generate economic activity.