Ethereum

Extracted Attributes

• Type

  Decentralized, open-source blockchain platform

• Open Source

  Yes

• Headquarters

  Switzerland

• Software Type

  Free software

• Token Standard

  ERC-20

• Primary Function

  Enables creation and deployment of permanent, immutable decentralized applications (DApps)

• Key Functionality

  Smart contract functionality

• Native Cryptocurrency

  Ether (ETH)

• Market Capitalization Rank

  Second largest among cryptocurrencies (after Bitcoin)

• Current Consensus Mechanism

  Proof-of-Stake (PoS)

• Original Consensus Mechanism

  Proof-of-Work (PoW)

• Role (Anatoly Yakovenko's definition)

  World's Settlement Layer

Timeline

• Conceived by programmer Vitalik Buterin with the release of the Ethereum whitepaper. (Source: Summary, DBPedia, Web Search)

  2013

• Development work began and was crowdfunded. (Source: Summary, DBPedia)

  2014

• Network launched/went live. (Source: Summary, Wikidata, DBPedia, Web Search)

  2015-07-30

• Experienced 'The DAO hack,' leading to a split that created Ethereum Classic (ETC). (Source: Web Search)

  2016

• Transitioned its consensus mechanism from proof-of-work (PoW) to proof-of-stake (PoS) in an upgrade process known as 'the Merge'. (Source: Summary, DBPedia)

  2022-09-15

Web Search Results

• Ethereum - Wikipedia

  Ether (ETH) is the cryptocurrency generated in accordance with the Ethereum protocol as a reward to validators in a proof-of-stake system for adding blocks to the blockchain. Ether is represented in the state as an unsigned integer "Integer (computer science)") associated with each account, this being the account's ETH balance denominated in wei (1018 wei = 1 ether). At the end of each epoch, new ETH is generated by the addition of protocol-specified amounts to the balances of all validators [...] Ethereum is a peer-to-peer network that maintains a database containing the storage values of all Ethereum accounts and processes state-altering transactions. Approximately every 12 seconds, a batch of new transactions, known as a "block", is processed by the network. Each block contains a cryptographic hash identifying the series of blocks that must precede it if the block is to be considered valid. This series of blocks is known as the blockchain. [...] Ethereum is a decentralized blockchain with smart contract functionality. Ether (abbreviation: ETH) is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capitalization. It is open-source software.

• Ethereum Explained: Blockchain, Smart Contracts, and Its Future

  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 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 operates on a blockchain, a type of distributed ledger similar to a database. Information is stored in blocks, each containing encoded data from the block before it and the new information. This creates an encoded chain of information that cannot be changed. Throughout the blockchain network, an identical copy of the blockchain is distributed.

• Ethereum - ETH Price, Live Chart, and News - Blockchain.com

  The original Ethereum concept was introduced in 2013 by Vitalik Buterin with the release of the Ethereum whitepaper and in 2015 the Ethereum platform was launched by Buterin and Joseph Lubin along with several other co-founders. Ethereum is described as “the world’s programmable blockchain,” positioning itself as an electronic, programmable network that anyone can build on to launch cryptocurrencies and decentralized applications. Unlike Bitcoin which has a maximum circulation of 21 million [...] Ethereum - ETH Price, Live Chart, and News | Blockchain.com Blockchain.com HomePricesChartsNFTsBuy More HomePricesChartsNFTsDeFiAcademyNewsDevelopersWalletExchangeBitcoinEthereumBitcoin Cash Blockchain.com Sign In Sign In Ethereum ETH Ether (ETH) is the native cryptocurrency that powers Ethereum. It's primarily used to pay transaction fees and the creation of blockchain smart contracts. Price History $4,600.53 • 09:13 Vol 42,685,719,916 ETH 1D 1W 1M 1Y MAX Image 1

• Ethereum - Blockchain.com

  ## What is Ethereum? Ethereum is a decentralized blockchain technology that’s not owned or regulated by a third party such as a government or central bank. Ethereum is used for building decentralized apps (dApps), holding and transacting cryptocurrency and other digital assets, and creating new cryptocurrencies. Ethereum’s native cryptocurrency, called ether (abbreviated to ETH), powers Ethereum. Imagine ETH as the fuel and Ethereum as the engine. ## How does Ethereum work? [...] How it works: Ethereum uses a proof-of-stake consensus algorithm, which means that users can earn rewards by holding ETH in their wallets and staking, or pledging, them to validate transactions. Bitcoin runs on a proof-of-work consensus algorithm, which involves people dedicating computing power to validate transactions (called mining). ## Who created Ethereum? Ethereum was originally proposed by Russian-Canadian programmer, Vitalik Buterin. [...] Household names such as Samsung, Amazon, and Microsoft are now using Ethereum, but what exactly makes Ethereum so attractive to investors, entrepreneurs, artists and corporations? As the second biggest cryptocurrency after Bitcoin, Ethereum is known as “the mother of decentralized applications.” This article covers everything you need to know about Ethereum basics, what makes Ethereum different from Bitcoin, smart contracts and use-cases, and how to get started with this new and exciting

• What is Ethereum? - Coinbase

  Ethereum, which launched in 2015, is the second-biggest cryptocurrency by market cap after Bitcoin. But unlike Bitcoin, it wasn’t created to be digital money. Instead, Ethereum’s founders set out to build a new kind of global, decentralized computing platform that takes the security and openness of blockchains and extends those attributes to a vast range of applications. [...] Ethereum, like Bitcoin, is an open source project that is not owned or operated by a single individual. Anyone with an internet connection can run an Ethereum node or interact with the network. [...] Ethereum is the name of the network. “Ether” is the native cryptocurrency token used by the Ethereum network. That said, in day-to-day usage most people call the token “ETH” (or just “Ethereum”). As a way of sending, receiving, or storing value ETH works much like Bitcoin. But it also has a special role on the Ethereum network. Because users pay fees in ETH to execute smart contracts, you can think of it as the fuel that keeps the whole thing running (which is why those fees are called “gas”).

• Image

  

• Founder

  Vitalik Buterin

• Instance Of

  Q341

• Headquarters

  Switzerland

• Inception Date

  7/30/2015

Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether (Abbreviation: ETH; sign: Ξ) is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capitalization. Ethereum was conceived in 2013 by programmer Vitalik Buterin. Additional founders of Ethereum included Gavin Wood, Charles Hoskinson, Anthony Di Iorio and Joseph Lubin. In 2014, development work began and was crowdfunded, and the network went live on 30 July 2015. Ethereum allows anyone to deploy permanent and immutable decentralized applications onto it, with which users can interact. Decentralized finance (DeFi) applications provide a broad array of financial services without the need for typical financial intermediaries like brokerages, exchanges, or banks, such as allowing cryptocurrency users to borrow against their holdings or lend them out for interest. Ethereum also allows users to create and exchange NFTs, which are unique tokens representing ownership of an associated asset or privilege, as recognized by any number of institutions. Additionally, many other cryptocurrencies utilize the ERC-20 token standard on top of the Ethereum blockchain and have utilized the platform for initial coin offerings. On 15 September 2022, Ethereum transitioned its consensus mechanism from proof-of-work (PoW) to proof-of-stake (PoS) in an upgrade process known as "the Merge".