Ethereum was created in 2015 by Vitalik Buterin, the Russian-Canadian programmer. The platform is based on the principle of decentralization, meaning it is not controlled by a single entity.
Ethereum allows users to build and deploy software, often in the form of decentralized applications, which are then run by the global distributed network of computers that run Ethereum. The network is decentralized, making it highly resistant to any form of censorship or disruption.
Additionally, Ethereum is an open-source blockchain platform that operates using its native currency, called Ether or ETH. All transaction fees on the network, or processing fees, are paid in ETH. ETH is specifically used by the Ethereum blockchain to pay transaction fees, and it is responsible for powering everything that happens on the network.
The Ethereum network can be used by anyone to create and run smart contracts, which represent programs that operate independently without user intervention. The growth of Ethereum can be attributed in part to the ability to use smart contracts, which have enabled the creation of a growing ecosystem of decentralized applications, NFTs, and more.
The Ethereum network completed its transition from a proof-of-work (PoW) consensus mechanism to a proof-of-stake (PoS) consensus mechanism in September 2022. In the proof-of-stake (PoS) consensus mechanism, users can stake 32 ETH to validate transactions instead of solving computational puzzles using mining equipment, making the process more energy-efficient.
The Shanghai upgrade has introduced a range of technical improvements to the Ethereum platform. One of the most notable new features is the ability for users to access their tokens on Ethereum and un-stake them, after being locked in a smart contract for the purpose of auditing on the Beacon chain.#BinancelaunchpoolHuma $ETH