The Einstein Telescope (ET) is the proposed European next-generation ground-based gravitational-wave observatory, included in the 2021 ESFRI Roadmap. To be built underground, two designs are under study: a 10 km triangular detector or two 15 km L-shaped detectors, both located in Europe. Each arm will contain two nested interferometers, one tuned for low frequencies and the other for high. ET will improve sensitivity by a factor of 10 over current detectors and access frequencies down to 3 Hz. It will observe gravitational waves from the early Universe and provide unprecedented precision for nearby events, revolutionizing astrophysics, fundamental physics, cosmology, and nuclear physics.