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Introduced in 2013, Ethereum is one of the oldest and most established blockchain platforms. It provides a truly decentralized blockchain that is comparable to the Bitcoin blockchain network. Manders said its key strength is that it enables true decentralization with support for smart contracts. Its key weaknesses include slow processing times and higher transaction processing costs compared to other platforms. Besides its role as a blockchain platform that underpins enterprise applications, it has its own cryptocurrency called ether.