#ETH Ethereum – 7 facts that (probably) will surprise you!

1. Not Bitcoin, but Ethereum

Although Bitcoin was first, Ethereum introduced smart contracts – thanks to which NFTs, DeFi, and many of today's innovations were created.

2. The creator was 19 years old

Vitalik Buterin was just 19 years old when he designed Ethereum. The idea came about while he was writing articles about Bitcoin and... wanted to create something better.

3. Network volatility

Ethereum transitioned from a Proof of Work mechanism to Proof of Stake in September 2022 during an event known as The Merge – saving about 99.95% of energy in the process!

4. NFTs started on ETH

The most well-known NFT collections (like Bored Ape or CryptoPunks) were created on Ethereum. ETH is the birthplace of Web3 culture.

5. Ethereum is not just a currency

ETH is the “fuel” of the network – you pay for every action on the blockchain with it. Without ETH, you cannot validate a single transaction or smart contract.

6. The world’s virtual computer

Ethereum functions as a global computer where you can run decentralized applications (dApps). You don't need servers or intermediaries.

7. EIP-1559 changed the rules of the game

Since 2021, a portion of transaction fees in ETH is... burned. This means that ETH can become increasingly deflationary.