Blockchain

Ethereum

A decentralized blockchain platform that enables smart contracts and decentralized applications (dApps), using Ether (ETH) as its native cryptocurrency.

Ethereum is the leading programmable blockchain platform, created by Vitalik Buterin in 2015. Unlike Bitcoin (primarily a currency), Ethereum is a general-purpose computing platform that can run smart contracts and decentralized applications.

The Ethereum Virtual Machine (EVM) is a Turing-complete virtual machine that executes smart contract bytecode. Every transaction that modifies state requires gas (paid in ETH), which prevents spam and compensates validators.

Ethereum transitioned from Proof of Work to Proof of Stake consensus in September 2022 ("The Merge"), reducing energy consumption by ~99.95%. Validators stake 32 ETH to participate in block production and earn rewards.

The Ethereum ecosystem includes Layer 2 scaling solutions (Arbitrum, Optimism, Base, zkSync) that process transactions off the main chain for lower costs and higher throughput, while inheriting Ethereum's security.

Related Terms

Smart Contracts Solidity DeFi (Decentralized Finance) Web3

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