Ethereum | ETH

Category: Blockchains

Overview

Ethereum is a blockchain for running smart contracts and decentralized applications. Developers use it to build services such as lending protocols, digital marketplaces, and token systems without relying on a single application operator to execute every transaction. ETH is the network’s native asset: users pay transaction fees in ETH, and validators stake ETH to help secure the network. Applications can also use Ethereum as a settlement layer. Each application has its own design and risks, so activity on Ethereum does not imply that every service built on it is endorsed by the network. Ethereum is an open, programmable blockchain launched in 2015. Its main network records transactions and runs smart contracts: programs that execute according to code deployed on the chain. This lets developers create tokens and applications for uses including decentralized finance, digital collectibles, and asset issuance. ETH pays for the computation and data used by transactions. Ethereum uses proof of stake, under which validators stake ETH and participate in securing the network. Ethereum also serves as a settlement and data layer for an ecosystem of scaling networks. These networks have their own operating designs and risks; their activity should not be confused with transactions occurring directly on Ethereum’s main network. Some financial products use Ethereum-based infrastructure, but access to those products may be restricted by their issuers. For example, ARK Invest and Securitize have announced tokenized ARK Venture Fund shares intended to be available on Ethereum upon release. That announcement does not establish that the shares are already live on Ethereum.

Project features

  • Live capabilities include smart contracts
  • ETH transaction fees
  • proof-of-stake validation
  • application and token deployment
  • Smart contract execution
  • proof-of-stake consensus
  • staking and network validation
  • ERC-20 token support
  • NFT infrastructure
  • decentralized application ecosystem
  • Layer-2 settlement infrastructure

Project website