#Ethereum
I will explain to you in a summarized and as comprehensible way as possible how the Ethereum Protocol works
Ethereum is based on several key concepts>
1. Blockchain:
It is a public and decentralized ledger where all transactions are stored.
2. Smart Contracts:
These are programs that execute automatically when certain conditions are met.
They are written in languages like Solidity and deployed on the Ethereum blockchain.
Once deployed, contracts are immutable.
3. Ethereum Virtual Machine (EVM):
It is the execution environment for smart contracts.
It ensures that the code runs uniformly across all nodes in the network.
4. Ether (ETH):
It is the native cryptocurrency of Ethereum and is used to pay transaction fees.
5. Proof of Stake (PoS):
Ethereum migrated from Proof of Work (PoW) to Proof of Stake (PoS) in the Ethereum 2.0 upgrade.
Instead of miners, there are now validators who lock (stake) ETH as collateral to validate blocks.
This makes the network more energy-efficient and faster.
