Part2:$ETH
What Is Ethereum?
Ethereum is a revolutionary global software platform driven by blockchain technology. Known for its native cryptocurrency, ether (ETH), Ethereum is pivotal in the world of blockchain and decentralized finance. It is designed to be scalable, programmable, secure, and decentralized, allowing anyone to develop secure digital technologies. Ether is utilized to power the blockchain and can also be used for payments across platforms that accept it.
Key Takeaways
Ethereum is a decentralized software platform built on blockchain technology, known for its native cryptocurrency, ether (ETH), and is widely used for developing decentralized finance applications.In 2016, Ethereum experienced a significant event known as "The DAO hack," leading to a split that created Ethereum Classic (ETC) after a portion of the community chose to retain the original blockchain.Ethereum transitioned from a proof-of-work to a proof-of-stake consensus mechanism in 2022, significantly reducing energy usage and processing power compared to traditional mining.The Dencun upgrade in March 2024 introduced proto-danksharding, a key step toward enhancing the Ethereum blockchain's scalability, promising faster and cheaper transactions in the future.Ethereum's ecosystem supports various use cases, including gaming, the development of decentralized autonomous organizations (DAOs), and non-fungible tokens (NFTs), signaling its potential influence on future internet applications.
