$ETH
Here's what I found about Ethereum ($ETH):
*Overview*
Ethereum is a decentralized blockchain with smart contract functionality, enabling the creation of decentralized applications (dApps) and decentralized finance (DeFi) services. Its native cryptocurrency is Ether (ETH), which is used to pay for transaction fees and computational services.
*Key Features*
- *Smart Contracts*: Self-executing contracts with the terms of the agreement written directly into lines of code.
- *Decentralized Finance (DeFi)*: Enables borrowing, lending, and trading of assets without intermediaries.
- *Non-Fungible Tokens (NFTs)*: Unique digital assets representing art, collectibles, and more.
- *Turing-Complete*: Ethereum's Virtual Machine (EVM) can execute any computation given enough resources.
*Technical Details*
- *Consensus Mechanism*: Proof-of-Stake (PoS), transitioning from Proof-of-Work (PoW) in 2022.
- *Block Time*: Approximately 12 seconds.
- *Gas*: A unit of measurement for computational effort, used to calculate transaction fees.
- *Programming Languages*: Solidity, Vyper, and others are used for smart contract development ¹.
*Use Cases*
- *Decentralized Applications (dApps)*: Gaming, social media, and more.
- *Decentralized Finance (DeFi)*: Lending, borrowing, and trading platforms.
- *Digital Art and Collectibles*: NFTs representing unique digital assets.
- *Enterprise Solutions*: Permissioned blockchain variants for businesses and financial institutions.