Ethereum is a permissionless, smart contract blockchain network that has been developed ever since 2014. Network participants can transact with one another and execute smart contracts by using Ether (ETH), Ethereum’s native cryptocurrency. 

 

Although currently secured by Proof-of-Work consensus, Ethereum will soon migrate to Proof-of-Stake as part of its transition to a more scalable and sustainable network. Token holders can already stake their Ether on the Beacon chain, which will merge with Ethereum’s Mainnet in Q2 2022.

 

Ethereum is developed by the Ethereum Foundation, a non-profit based in Switzerland.