Ethereum Price Chart (ETH/USD)

What is Ethereum?

Ethereum is a blockchain technology that powers decentralized applications (dapps) without being controlled by a central authority. Users can use the various dapps such as finance (DeFi), non-fungible tokens, lending, stablecoins and much more. Ether (ETH) is the native cryptocurrency that powers the Ethereum network and is used to pay for transaction activities.

Who are the creators of Ethereum?

The Ethereum project was initially conceived when Vitalik Buterin published the whitepaper in 2013. The yellowpaper which consists of more technical details on how Ethereum would work was later published by Gavin Wood in 2014. A fundraising sale was conducted in September 2014 and the network went live on July 2015.

What is Ethereum 2.0?

Ethereum 2.0 is an upcoming upgrade that aims to solve the blockchain trilemma - security, scalability, and decentralization. In alternative smart contract platforms, they are designed to be highly scalable but compromises on decentralization. Whereas a highly secured and decentralized blockchain network would have the trade off being highly unscalable. Ethereum 2.0 brings a very different flavor of design that aims to addresses those issues by way of using Proof-of-Stake (POS), Beacon Chain, Sharding, and Execution Environment. Due to the complexity of the project, the developement will take place in 3 phases. A Proof-of-Stake Beacon Chain have been deployed and users are staking their ETH as a sign of confidence of the upcoming network. Research and development are still in progress to roll out the remaining phases.

To learn more about Ethereum, please check out the following articles:

• Read this detailed guide on Ethereum Upgrades, the Merge, and ETH 2.0
• Learn how to stake ETH for Ethereum 2.0 (the Merge)