You Must Know 10 Important Things About Ethereum

Ethereum is a decentralized open-source blockchain platform that allows developers to build and deploy DApps

[{"selector":"#anim-533d8a40-b09b-4916-a075-5a346e8c5839 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-c9664cd1-4324-4c03-985a-5befb0f45fdd","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dfdbdfc0-5f0e-4ae8-b3f6-8f3b65dc080c","keyframes":{"transform":["translate3d(0px, 130.76464%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Ethereum was created in 2015 by Vitalik Buterin, a Russian-Canadian programmer, and has since become the second-largest cryptocurrency by market capitalization after Bitcoin.

[{"selector":"#anim-71e580bc-d3b0-4728-9396-113996fc3de9 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(8.83333336549353%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-0b58b04a-9d27-4d3f-b2c3-0d306ae7e5c0","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-17eb1fe5-55ef-4193-b242-366a603cdbfc","keyframes":{"transform":["translate3d(0px, 111.68169%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Ethereum uses a consensus algorithm called Proof of Stake to validate transactions on the network, which is more energy-efficient than Bitcoin's Proof of Work algorithm.

[{"selector":"#anim-664322ff-402d-4ae3-87f3-73366151a874 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-7.105427357601002e-15%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-3a7dbd05-df9a-46f9-a5f5-800c30d0d873","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d2dc14ee-c51d-4a92-87ab-4c665a79d36e","keyframes":{"transform":["translate3d(0px, 120.64617%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

The native cryptocurrency of the Ethereum network is Ether, which is used to pay for transactions and also serves as a store of value.

[{"selector":"#anim-354728af-cf18-4a52-a0cd-c4dab99a015a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-38d606c6-cde1-4db1-9581-259745fff10d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5b5aee60-e94f-4438-b38b-01105feb7c12","keyframes":{"transform":["translate3d(0px, 126.03903%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Smart contracts can be used for a variety of purposes, including DeFi, supply chain management, and identity verification.

Ethereum allows for the creation of ERC-20 tokens, which are fungible tokens that can be used as a medium of exchange, a unit of account, or a store of value

[{"selector":"#anim-df3153e4-917f-4cc2-8334-a3f8aa904eb6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(8.83333336549353%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-176c59aa-520e-4c8f-9f62-ff47bd08706d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-993b1ddb-54af-4c32-bdbe-3ff1f874d07d","keyframes":{"transform":["translate3d(0px, 123.10405%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Ethereum developers can create custom blockchain applications using a variety of programming languages, including Solidity, Vyper, and Rust.

[{"selector":"#anim-c4beabe9-125d-409a-ac59-3a78595ac68a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-7.105427357601002e-15%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-499f752d-0488-400c-945e-5e6896f6057c","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a183bae5-253d-408d-a4c1-0a8da11f1c8f","keyframes":{"transform":["translate3d(0px, 120.96052%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

The most recent upgrade, called Ethereum 2.0, aims to improve the scalability, security, and sustainability of the network.

[{"selector":"#anim-9caaba97-3297-4947-a0f4-afaa395932d1","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bdd2aa4b-1831-4b9c-b879-fe9009460cd3","keyframes":{"transform":["translate3d(0px, 124.15862%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7acf86e5-3276-4671-8eb1-9eac5b7fadff [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Ethereum has a vibrant and active developer community, with thousands of developers working on projects and contributing to the platform's growth.

[{"selector":"#anim-08879835-634e-45ab-a0d2-c3aa88b35147 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-7.105427357601002e-15%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-041bd1fa-e0c9-4190-9efc-b8540db0e1bb","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-10249890-1204-4472-a996-6b76799cd6ad","keyframes":{"transform":["translate3d(0px, 125.60585%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Ethereum has a wide range of use cases and applications, including DeFi, non-fungible tokens (NFTs), gaming, and more.

[{"selector":"#anim-32309db2-e5a3-43b2-b1e0-e6500a8ca9f6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-7102b1cc-2354-4717-b911-aa0feda720de","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-65f392be-34a8-457b-819f-78fedb3c4c51","keyframes":{"transform":["rotate(-360deg) translate3d(0px, 132.04243%, 0) rotate(360deg)","rotate(-360deg) translate3d(0px, 0px, 0) rotate(360deg)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]