ETH

Ethereum is a programmable blockchain platform that supports smart contracts, enabling developers to build decentralized applications spanning finance, gaming, identity, and governance. After transitioning from proof-of-work to proof-of-stake in September 2022 (The Merge), the network drastically reduced its energy consumption and introduced validator staking as the consensus mechanism. Ethereum's native token ETH serves as both the network's gas currency for transaction fees and a staking asset that secures the chain. The platform hosts the largest ecosystem of decentralized finance (DeFi) protocols, NFT marketplaces, and layer-2 scaling networks. EIP-1559 introduced a base fee burn mechanism that makes ETH supply dynamics partially deflationary during periods of high network usage.