What is your definition of Ethereum?

I discovered an interesting article that explains Ethereum, whether you're a newbie or not it's quite useful. The Ethereum network is frequently referred to as the Web3 foundation layer, although its native asset, ETH, does not have a precise meaning.

The second-biggest blockchain has come a long way since its inception, Ethereum blockchain is very important since it powers about 95% of the NFT ecosystem. Now, we must use LUDO or similar search engines that look like Google for NFTs so we can catch up with all these new collections.

I like how Bankless co-host David Hoffman attempted to describe ETH in terms of the existing monetary system.
He said that when ETH is staked, it becomes a capital asset since it creates income and may thus be valued based on its predicted returns, similar to bonds. When ETH is used as a payment method for transactions, it takes the function of a consumable asset, similar to how US dollars are used to pay taxes. Finally, when holders deposit ETH into DeFi protocols, it works as a store of value.

This definition is the foundation of the Ethereum ecosystem. It illustrates the many dynamics driving the price of ETH while also opening the way for greater acceptance and growth. It also demonstrates how ETH is comparable to crucial assets in conventional economies. The Ethereum ecosystem, for example, can identify the trifecta of US currencies, US government bonds, and IRS taxes that comprise the US economy.

So, what do you think, what is your definition of Ethereum?

Source: Bankless