Interesting facts about Ethereum

1. The second largest cryptocurrency after Bitcoin

Ethereum ranks second in market capitalization after Bitcoin. However, Ethereum is not just a payment system – it is a complete platform for running applications.

2. Created by Vitalik Buterin

The founder of Ethereum is Vitalik Buterin, who was only 19 years old when he created Ethereum. He was born in Russia but grew up in Canada.

3. The home of smart contracts

Ethereum is the most popular platform for smart contracts. These contracts execute transactions automatically – without human intervention.

4. The main platform for DApps

Decentralized applications (DApps) developed on Ethereum are widely used – ranging from financial services to games.

5. Ether – the internal currency of the Ethereum network

The platform is called Ethereum, while Ether (ETH) is the cryptocurrency used for transactions on it.

6. The concept of "Gas"

In Ethereum, "gas" (meaning fuel) is paid for any transaction or operation. This is the payment for using computing power on the blockchain.

7. Ethereum 2.0 – a major update

Ethereum underwent significant changes in 2022–2023: it transitioned from a Proof of Work (PoW) system to a Proof of Stake (PoS) system. This made transactions more energy-efficient.

8. The foundation of the DeFi revolution

Ethereum is at the heart of the DeFi (Decentralized Finance) revolution, allowing financial operations to be conducted without bank services.

9. The main home of NFTs

Most NFT (non-fungible token) projects were created on the Ethereum blockchain. For example: CryptoPunks, Bored Ape Yacht Club.

10. No maximum supply of Ethereum

Unlike Bitcoin, there is no maximum supply limit for Ethereum. However, the burning of ETH is increasing the deflationary effect.