Ethereum is a decentralized network that lets people run apps, hold assets, and make agreements in code. Ether pays for the computing work that keeps it running.
Built by: Proposed by Vitalik Buterin; built with a broad founding team and open-source community
Ethereum was proposed in 2013 as a way to put general-purpose programs on a shared blockchain, not just transfers. Its first public network, Frontier, launched in 2015.
What makes it different
Its own rules, its own trade-offs.
Ethereum is a base layer for programmable money and applications. It is not one app: wallets, stablecoins, exchanges, games, and many other contracts share the network.
Not the same as: a guarantee, a bank account, or a customer-service payment rail.
How a transaction becomes real
From wallet to chain.
A wallet creates a signed transaction, such as sending ETH or calling a smart contract.
The transaction specifies gas: a limit on computation and a fee offer.
Validators receive it, execute the same rules, and include it in a block.
The network reaches proof-of-stake consensus on the ordered block and updates a shared state snapshot.
The receipt records whether the call succeeded, how much gas it used, and any on-chain events.
Supply and incentives
Why the token exists.
ETH has no fixed maximum supply. Since Ethereum moved to proof of stake in 2022, validators stake ETH to help secure the chain; part of each transaction fee can be burned under the protocol's fee rules.
Use it safely
What can go wrong.
A correct Ethereum transaction can still interact with a malicious contract. Read wallet approvals, use the intended network, and remember that gas spent on a failed contract call is generally not refunded.
Verify it yourself
Look at the chain.
A block explorer lets you inspect public transactions, blocks, addresses, and fees. Never paste a recovery phrase or private key into one.
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