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Eth

Ethereum, launched in 2015 by Vitalik Buterin, introduced smart contracts and allows developers to create decentralized applications (dApps). Unlike Bitcoin, Ethereum focuses on providing a decentralized platform for computation and uses its cryptocurrency, Ether (ETH), for transaction fees. The network is transitioning to a proof-of-stake (PoS) consensus mechanism through Ethereum 2.0 to enhance scalability, security, and energy efficiency.

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Hamilton Carmean
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2 views1 page

Eth

Ethereum, launched in 2015 by Vitalik Buterin, introduced smart contracts and allows developers to create decentralized applications (dApps). Unlike Bitcoin, Ethereum focuses on providing a decentralized platform for computation and uses its cryptocurrency, Ether (ETH), for transaction fees. The network is transitioning to a proof-of-stake (PoS) consensus mechanism through Ethereum 2.0 to enhance scalability, security, and energy efficiency.

Uploaded by

Hamilton Carmean
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Ethereum (ETH)

Launched in 2015 by a team led by Vitalik Buterin, Ethereum introduced a groundbreaking

innovation to the world of blockchain: smart contracts. These are self-executing contracts where the

terms are directly written into code. Ethereum's platform enables developers to build decentralized

applications (dApps) on its blockchain.

Ethereum differs from Bitcoin in that it focuses not only on digital currency but also on providing a

decentralized platform for any kind of computation. It has its own native cryptocurrency called Ether

(ETH), used primarily to pay for transaction fees and computational services on the network.

Ethereum is currently transitioning from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus

mechanism through a series of upgrades collectively known as Ethereum 2.0. This aims to make the

network more scalable, secure, and energy-efficient.

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