$ETH (Ethereum) is the second-largest cryptocurrency by market cap and the leading smart contract platform, powering decentralized applications (dApps), DeFi, NFTs, and more.
Key Features of Ethereum ($ETH):
1. Smart Contracts & dApps – Ethereum introduced programmable smart contracts, enabling developers to build decentralized applications (DeFi, NFTs, DAOs, etc.).
2. Ethereum 2.0 & Proof-of-Stake (PoS) – Ethereum transitioned from Proof-of-Work (PoW) to Proof-of-Stake (PoS) in "The Merge," improving scalability and energy efficiency.
3. High Network Utility – Most DeFi protocols, NFT marketplaces, and blockchain projects run on Ethereum.
4. Layer 2 Scaling Solutions – Networks like Arbitrum, Optimism, and zk-rollups help reduce gas fees and improve transaction speeds.
5. Deflationary Mechanism (EIP-1559) – A portion of ETH fees is burned, reducing supply over time and making ETH a more scarce asset.
Ethereum’s Role in the Crypto Market:
The backbone of the DeFi ecosystem and Web3 applications.
A key player in NFT marketplaces (OpenSea, Blur, etc.).
Used as gas fees for executing smart contracts and transactions on the Ethereum network.
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