Ethereum has become a buzzword in the world of blockchain and cryptocurrencies, but what exactly is it? Built as more than just a form of digital currency, Ethereum offers a robust platform for decentralized applications (DApps) and smart contracts, transforming industries with innovation.

Blockchain technology is often synonymous with cryptocurrency, thanks to its role in powering Bitcoin, Ethereum, and other digital currencies. But blockchain’s potential goes far beyond financial transactions. Its decentralized, secure, and transparent ledger system has opened the door to applications across diverse industries, reshaping how we think about trust, efficiency, and innovation.

When it comes to blockchain technology, one critical component underpins its functionality and trustworthiness: consensus mechanisms. These mechanisms are how blockchain networks agree on the validity of transactions and maintain decentralization. Among the most discussed and widely adopted are Proof of Work (PoW) and Proof of Stake (PoS).