Ethereum

A programmable blockchain that runs smart contracts, with ETH as its native asset.

Crypto Basics Also called ETH, Ether

Ethereum is a blockchain designed to run code, not just move money. Developers deploy smart contracts to it, and those contracts power most of the DeFi protocols, NFT marketplaces and stablecoins in circulation today.

Its native asset, ether (ETH), is used to pay transaction fees known as gas. Ethereum moved from proof-of-work to proof-of-stake in September 2022 in an upgrade called the Merge, cutting its energy use by more than 99 per cent.

Related terms

Blockchain Technology

Gas Fee

The cost of executing an operation on Ethereum, priced in gwei.

Mining & Consensus

Proof of Stake

A consensus rule where validators lock up coins as collateral instead of burning electricity.

Blockchain Technology

Smart Contract

Self-executing code deployed on a blockchain that runs exactly as written.

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