19 Facts About Ethereum

Ethereum is a decentralized, open-source blockchain with smart contract functionality.

Additional founders of Ethereum included Gavin Wood, Charles Hoskinson, Anthony Di Iorio and Joseph Lubin.

Ethereum allows anyone to deploy permanent and immutable decentralized applications onto it, with which users can interact.

Ethereum 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.

On 15 September 2022, Ethereum transitioned its consensus mechanism from proof-of-work to proof-of-stake in an upgrade process known as "the Merge".

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Ethereum was initially described in late 2013 in a white paper by Vitalik Buterin, a programmer and co-founder of Bitcoin Magazine, that described a way to build decentralized applications.

Ethereum was announced at the North American Bitcoin Conference in Miami, in January 2014.

Formal development of the software underlying Ethereum began in early 2014 through a Swiss company, Ethereum Switzerland GmbH .

Several codenamed prototypes of Ethereum were developed over 18 months in 2014 and 2015 by the Ethereum Foundation as part of their proof-of-concept series.

The event sparked a debate in the crypto-community about whether Ethereum should perform a contentious "hard fork" to reappropriate the affected funds.

Ethereum is a permissionless, non-hierarchical network of computers that build and come to a consensus on an ever-growing series of "blocks", or batches of transactions, known as the blockchain.

Ethereum addresses are composed of the prefix "0x" concatenated with the rightmost 20 bytes of the Keccak-256 hash of the ECDSA public key .

Ether can be used as a digital currency and store of value, but the Ethereum network makes it possible to create and run decentralized applications and smart contracts.

Ethereum allows for the creation of unique and indivisible tokens, called non-fungible tokens .

Ethereum-based software and networks, independent from the public Ethereum chain, are being tested by enterprise software companies.

Ethereum-based permissioned blockchain variants are used and being investigated for various projects:.

On 19 December 2016, Ethereum exceeded one million transactions in a single day for the first time.

Ethereum engineers have been working on sharding the calculations, and the next step was presented at Ethereum's Devcon 3 in November 2017.

Ethereum's blockchain uses Merkle trees for security reasons, to improve scalability, and to optimize transaction hashing.