What Is Ethereum? — Web3Canada / Zeneca (2026)
Source: https://web3canada.ca/12daysofweb3/what-is-ethereum/
Raw file: raw/articles/what-is-ethereum.md
Overview
A consumer-friendly explainer written by Zeneca for Web3Canada’s 12 Days of Web3 series. The piece aims to explain Ethereum to a general audience with no prior blockchain knowledge, using a layered conceptual framework: ether → gas → smart contracts → dapps.
Core Argument: Ethereum as the World’s Decentralised Computer
The article frames Ethereum’s ambition as becoming the world’s decentralised computer — while Bitcoin is primarily a digital cash system, Ethereum is a programmable platform allowing anyone to build applications that run globally without a controlling company.
Vitalik Buterin invented Ethereum in 2015, conceived as an extension of Bitcoin’s blockchain idea into a general-purpose computing platform.
The Layered Conceptual Framework
1. Ether (ETH)
The native cryptocurrency of the Ethereum blockchain. Technically, “Ethereum” is the name of the blockchain and protocol; “Ether” is the cryptocurrency. ETH is used to pay for computation on the network.
2. Gas
The amount of ETH paid to process a transaction or execute a smart contract. Gas prices fluctuate with network demand — a concept analogous to fuel for a car engine: the more computational work required, the more gas is consumed.
3. Smart Contracts
Code deployed permanently on the Ethereum blockchain. Smart contracts are:
- Decentralised — stored across all network nodes
- Immutable — cannot be arbitrarily changed after deployment
- Open — anyone can read the code
They execute automatically when triggered, with no intermediary.
4. Decentralised Apps (dApps)
A dApp combines a backend smart contract with a frontend user interface. The contract runs on Ethereum; the frontend can be hosted anywhere (or on decentralised storage). Examples include DeFi lending platforms, NFT marketplaces, and decentralised social media.
Bitcoin vs Ethereum Distinction
The article draws the canonical distinction: Bitcoin is designed to do one thing well — transfer value. Ethereum is designed to be programmable, supporting arbitrary logic via the EVM. This makes Ethereum comparable to a general-purpose computer vs. Bitcoin as a calculator.
Entities Mentioned
- vitalik-buterin — conceived and co-founded Ethereum; Canadian programmer
Concepts Mentioned
- ethereum — the decentralised programmable blockchain
- smart-contracts — self-executing code on Ethereum
- bitcoin — contrasted as a single-purpose value-transfer network
- defi — decentralised finance built on smart contracts and dApps
Related sources: ethereumorg-2026-what-is-ethereum | wikipedia-2026-ethereum | kraken-2024-what-is-ethereum