Ethereum

Ethereum Introduction

• Overview: Ethereum is a decentralized blockchain platform that supports smart contract functionality. Its native cryptocurrency is Ether (ETH), which ranks second only to Bitcoin in market capitalization. Ethereum was conceptualized in 2013 by programmer Vitalik Buterin and officially launched on July 30, 2015.
• Technical Features: Ethereum is an open-source software platform that enables developers to build and deploy decentralized applications (dApps). It leverages blockchain technology to ensure the security and transparency of digital ledgers, supporting multiple virtual machines (e.g., EVM, SVM, MoveVM) through Rollups for high throughput and low latency.
• Functionality and Applications: Beyond cryptocurrency transactions, Ethereum supports decentralized finance (DeFi) applications, offering services like lending and earning interest without traditional financial intermediaries. It is also widely used for non-fungible tokens (NFTs), decentralized autonomous organizations (DAOs), social media, file storage, and more, positioning itself as the settlement layer for the internet of value.
• Native Token (ETH): ETH serves as the fuel for the Ethereum network, used to pay transaction fees, secure the network, and act as a reserve asset or store of value in decentralized finance. It also facilitates the creation of other tokens and initial coin offerings (ICOs).
• Advantages and Innovation: Unlike Bitcoin, Ethereum is a general-purpose blockchain with strong programmability, supporting a wide range of tasks and applications. Its modular ecosystem allows developers to integrate specialized solutions like Rollups for faster and cheaper transactions, while continuously innovating in privacy protection and large-scale composability.
• Future Potential: Ethereum is focused on enhancing privacy, expanding Layer 1 block space, and achieving greater scalability and interoperability through technologies like real-time validity proofs, aiming to drive mass adoption and attract more developers and users.