Ethereum (ETH) Currency
1. Launch Date: Ethereum was launched in 2015 by Vitalik Buterin and his team, aiming to support decentralized applications and smart contracts.
2. Total Supply: There is no maximum limit to the number of Ethereum coins, however, the system is transitioning to proof of stake to reduce supply over time.
3. Proof of Stake (PoS): Ethereum is moving from proof of work to proof of stake to reduce energy consumption and improve network speed.
4. Gas Fees: Gas fees are used to execute transactions on the network, and they vary based on transaction density.
5. ERC-20 Standard: Used to create tokens on Ethereum, such as Tether (USDT) and Chainlink (LINK).
6. NFTs: Ethereum is the main blockchain for creating non-fungible tokens (NFTs) via the ERC-721 standard.
7. Continuous Updates: Ethereum is continuously being developed to improve performance and reduce transaction costs.
8. Decentralized Finance (DeFi): Ethereum is the foundation for many decentralized finance applications that do not rely on banks or intermediaries.
9. Legal Contracts: Ethereum is used to create legally binding smart contracts that are automatically executable.
Summary
Ethereum is not just a digital currency, but a platform that supports innovation through decentralized finance, smart contracts, and NFTs, and continues to evolve to be the foundation for a decentralized internet in the future.
