Introduction to Ethereum
Ethereum (ETH) is a well-known cryptocurrency launched in 2015 by Vitalik Buterin. It’s a decentralized platform for developing decentralized applications (dApps) and smart contracts.
How Ethereum Works
Ethereum operates as an open-source blockchain platform supporting dApps. It relies on smart contracts, allowing complex actions like issuing tokens and building decentralized applications.
Proof-of-Work and Proof-of-Stake
Ethereum transitioned from Proof-of-Work to Proof-of-Stake in 2022. Proof-of-stake is more energy-efficient, using validators who stake capital to support the network.
The Technology Behind ETH
The Ethereum network features a virtual machine (EVM) executing code in Solidity. “Gas” is required to run applications, with transaction fees calculated based on gas and gas price.
The Ethereum Ecosystem
The Ethereum ecosystem is a growing network of blockchain technology and dApps. It’s known for DeFi applications and NFTs,