Launched in 2015, Ethereum transformed the cryptocurrency landscape with its programmable blockchain, introducing smart contracts for decentralized applications (dApps). Its native cryptocurrency, Ether (ETH), ranks as the second-largest by market cap. The network operates through a decentralized system of nodes, collectively forming the Ethereum Virtual Machine (EVM), which executes transactions and smart contracts. Ethereum's innovations also include non-fungible tokens (NFTs), decentralized finance (DeFi) applications, and the transition to Ethereum 2.0 for enhanced scalability and sustainability. Layer 2 solutions are developed to further improve throughput and reduce costs for transactions.
Ethereum emerged as the first programmable blockchain, revolutionizing the landscape by introducing smart contracts that allowed decentralized applications.
The Ethereum network operates through nodes forming the EVM, executing smart contracts, processing transactions, and enabling varied applications, from financial tools to games.
Layer 2 solutions on Ethereum enhance throughput and reduce costs by offloading transactional burdens from the main network, allowing faster and cheaper transactions.
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