$ETH

What is Ethereum?

Ethereum is more than just a digital currency like Bitcoin; it is a decentralized platform that allows developers to build smart applications known as smart contracts. Launched in 2015 by programmer Vitalik Buterin, it is currently the second largest digital currency by market capitalization.

What distinguishes Ethereum?

1. Smart Contracts:

They allow the execution of agreements without intermediaries, such as creating insurance contracts, financial trades, or decentralized applications (DApps).

2. Decentralized Finance (DeFi):

Ethereum has become the backbone of decentralized finance applications, such as lending and trading without banks.

3. Non-Fungible Tokens (NFTs):

Most NFT transactions occur on the Ethereum network, providing a reliable environment for preserving digital ownership.

Ethereum 2.0 and the transition to Proof of Stake:

In September 2022, Ethereum witnessed the most significant update in its history with its transition from Proof of Work to Proof of Stake.

This update:

Reduced energy consumption by over 99%.

Paved the way for future improvements in speed and scalability.

The future of Ethereum:

With the evolution of decentralized applications and the increasing interest in blockchain, Ethereum is expected to continue to grow, especially with upcoming updates that enhance network speed and reduce fees.