Ethereum
4 comparisons available
About Ethereum
Ethereum is a decentralized blockchain platform that enables smart contracts and decentralized applications (dApps). Created by Vitalik Buterin and launched in 2015, Ethereum expanded on Bitcoin's concept by adding programmability to the blockchain. Its native cryptocurrency, Ether (ETH), is the second-largest by market capitalization. In 2022, Ethereum completed 'The Merge,' transitioning from proof-of-work to proof-of-stake consensus, reducing energy consumption by over 99%. Ethereum serves as the backbone for DeFi (decentralized finance), NFTs, DAOs, and thousands of decentralized applications. Layer 2 scaling solutions like Arbitrum, Optimism, and zkSync have dramatically improved transaction speed and reduced fees. The platform processes millions of transactions daily and secures over $100 billion in total value locked across DeFi protocols. Ethereum's EVM (Ethereum Virtual Machine) has become the standard for smart contract execution, with most competing blockchains maintaining EVM compatibility. The Ethereum ecosystem continues to evolve with ongoing upgrades focused on scalability, security, and sustainability.
Frequently Asked Questions
What is the difference between Ethereum and Bitcoin?
Bitcoin was designed primarily as a digital currency and store of value, while Ethereum is a programmable blockchain platform supporting smart contracts, DeFi, NFTs, and dApps.
What was The Merge?
The Merge (September 2022) was Ethereum's transition from proof-of-work to proof-of-stake consensus, reducing energy consumption by over 99% and changing how the network validates transactions.
What are Ethereum gas fees?
Gas fees are the costs users pay to execute transactions or smart contracts on Ethereum. They vary based on network demand and have been significantly reduced by Layer 2 scaling solutions.