Ethereum (ETH): what you need to knowEthereum (ETH): what you need to know

Ethereum is an open-source blockchain platform that supports smart contracts and decentralised applications (dApps). The native cryptocurrency, ETH (Ether), is used to pay for transactions and secure the network. Ethereum was launched in 2015 and has become the foundation for a large part of the DeFi, NFT and Web3 ecosystems.

Whitepaper: https://www.lcx.com/eth-mica-white-paper/

Since The Merge in 2022, Ethereum has used a Proof-of-Stake consensus mechanism. Validators stake ETH to validate transactions and add new blocks to the chain. Smart contracts run on the Ethereum Virtual Machine (EVM), allowing developers to build complex applications that operate without intermediaries.

• Ticker: ETH

• Category: Layer 1 / Smart Contract Platform

• Blockchain: Ethereum

• Protocol: Proof of Stake

• Year of launch: 2015

The Ethereum Virtual Machine (EVM) enables the execution of Turing-complete smart contracts. Layer 2 solutions such as Arbitrum, Optimism and Base provide faster and cheaper transactions on top of Ethereum. Ethereum has an active roadmap with upgrades such as sharding and proto-danksharding to further improve scalability.

The Ethereum ecosystem is the largest of all smart contract platforms. It includes thousands of dApps, DeFi protocols, NFT marketplaces, stablecoins and Layer 2 networks. Companies and developers all over the world build on Ethereum, supported by the Ethereum Foundation and a large open-source community.

Ethereum was proposed in 2013 by Vitalik Buterin and launched in 2015 by Buterin together with co-founders such as Gavin Wood, Joseph Lubin and Charles Hoskinson. Vitalik Buterin remains a central figure in the further development of the protocol through the Ethereum Foundation.

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Cryptocurrencies, including Ethereum (ETH), are volatile and carry risks. The value of ETH can fluctuate greatly and investments can lead to financial losses. Always do your own research and only invest money that you are willing to lose.

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