What is Ethereum?

 Ethereum is a digital currency or blockchain platform used to develop smart contracts. 

 Vitalik Buterin, a leading developer, created it in 2015. Ethereum is not unlike Bitcoin in that it is used to create projects and tokens in addition to being used as a currency. How Does Ethereum Work? 

 Ethereum works on Blockchain technology, which is a chain of records that cannot be changed.  Anyone who uses Ethereum can interact with the Blockchain, using an Ethereum digital wallet such as Metamask.  When you make a purchase using the ERC-20 network, the Ethereum Blockchain verifies the transaction by storing that data. 

 What is Ether (ETH)? 

 It is the official currency of Ethereum. When new projects are created on the Ethereum Blockchain, it is used to pay the gas fees. Smart Contracts store project data directly on the Ethereum Blockchain. What is a Smart Contract?

 A smart contract is one that automatically comes into effect when certain conditions are satisfied. It is like a legal contract that does not require an intermediary.  For example, if two people agree to a transaction, a smart contract automatically ensures the execution of that agreement.  Ethereum was the first blockchain to implement Smart Contracts, which means that projects can be created on the Blockchain. s

 Benefits of Ethereum

 Ethereum has many benefits, including:

 Decentralization: It is an open platform that anyone can use and build projects on.

 Transparency: 

Transactions that occur within the Ethereum Blockchain and are stored on it are visible.

 Development of dApps: Ethereum has made it possible to create programs that do not have a central authority (Decentralized Applications).

 Token Creation: Ethereum provides an opportunity to create digital tokens that are used in the ERC-20 network for transactions, and store their data on the Blockchain

 The drawbacks of Ethereum: Ethereum has several Challenges, including:

 High Gas Fees: Sometimes the gas fee on the platform can go up to around $30 per user, which is its biggest challenge

 Transaction Speed:

 Ethereum is not the fastest compared to other blockchains, taking several minutes to complete transactions on the platform.

 Price Changes: 

The price of Ethereum (ETH) fluctuates frequently, which can have an effect on developers as they construct projects on the Ethereum Blockchain to pay for the platform's Gas Fee. The Future of Ethereum

 The Future of Ethereum is seen as the foundation of the future of Web 3.0, a new type of internet that aims to make web browsers decentralized and not controlled by a central authority like the corporations that control the internet today.  The Ethereum Blockchain can be used to build online marketplaces, digital insurance, decentralized banking (DeFi), digital artifacts (NFTs) and tokens that can be used as money.  Like Bitcoin, Ethereum is a complete Blockchain system that can be used to create applications as well as a digital currency. It is key to the ongoing economic and technological transformation.  Despite the challenges, the development of Ethereum is illuminating a digital future where data is not controlled by a central authority and is trusted.

 What advice does Islam offer regarding investing in Ethereum's "ether" Investing in Ethereum Coin states that Crypto Halal and Crypto Islam is permissible only if it is used for permitted trading such as Spot only but not for trading in the Futures section or for making legitimate investments.