Ethereum (ETH) is the second-largest cryptocurrency by market capitalization after Bitcoin. But unlike Bitcoin, which mainly functions as digital money, Ethereum is a smart contract platform that powers a wide range of decentralized applications (dApps).
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Key Details about Ethereum (ETH):
1. Created By:
Vitalik Buterin and a team of developers launched Ethereum in 2015.
2. Native Token:
The native cryptocurrency of the Ethereum network is Ether (ETH) — used to pay for transactions and services on the network.
3. Smart Contracts:
Ethereum allows developers to write self-executing contracts that run exactly as programmed — without any chance of fraud, downtime, or third-party interference.
4. Decentralized Applications (dApps):
Many popular DeFi (Decentralized Finance), NFT (Non-Fungible Token), gaming, and metaverse projects are built on Ethereum.
5. Ethereum 2.0 (The Merge):
In 2022, Ethereum shifted from Proof of Work (PoW) to Proof of Stake (PoS), reducing energy usage by over 99%.
6. Gas Fees:
To perform actions on Ethereum (like sending ETH or interacting with dApps), users pay "gas fees" in ETH.
7. Uses of ETH:
Buying NFTs
Lending/borrowing in DeFi apps
Trading on decentralized exchanges (DEXs)
Staking to earn rewards
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Important Stats (as of 2025, approximate):
Ticker Symbol: ETH
Total Supply: Not fixed (but now burns some ETH through fees)
Consensus Mechanism: Proof of Stake
Speed: ~15–30 transactions per second (can increase with Layer 2 solutions)
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Let me know if you want to learn how to buy ETH, use a wallet like MetaMask, or explore Ethereum-based apps.