$ETH

Ethereum is a decentralized, open-source blockchain platform that enables the creation and execution of smart contracts and decentralized applications (dApps). Here’s a concise overview:

🔹 What Is Ethereum?

Launched: July 30, 2015

Founder: Vitalik Buterin (along with Gavin Wood, Joseph Lubin, and others)

Native Cryptocurrency: Ether (ETH)

🔹 Key Features

Smart Contracts: Self-executing contracts with the terms written in code. They run on the Ethereum Virtual Machine (EVM).

Decentralized Applications (dApps): Developers can build apps that run on the blockchain, not on centralized servers.

DeFi (Decentralized Finance): Ethereum is the backbone of the DeFi movement, enabling lending, trading, and earning interest without banks.

NFTs (Non-Fungible Tokens): Ethereum powers the majority of NFTs through the ERC-721 and ERC-1155 standards.

🔹 Ethereum 2.0 / The Merge

What Changed?

Switched from Proof-of-Work (PoW) to Proof-of-Stake (PoS) in September 2022.

This upgrade reduced energy consumption by over 99% and laid the groundwork for better scalability.

🔹 Common Standards

ERC-20: Standard for fungible tokens.

ERC-721: Standard for non-fungible tokens (NFTs).

ERC-1155: Multi-token standard allowing both fungible and non-fungible tokens.

🔹 Use Cases

DeFi platforms (e.g., Uniswap, Aave)

NFT marketplaces (e.g., OpenSea)

DAOs (Decentralized Autonomous Organizations)

Gaming and Metaverse projects (e.g., Decentraland)