Ethereum, proposed by Vitalik Buterin in 2013 and launched in 2015, is a decentralized platform enabling smart contracts and decentralized applications (dApps) to be built and operated without downtime or fraud.
Ethereum Journey
2015
Ethereum network launched
2016
DAO hack and subsequent hard fork
2020
Launch of Ethereum 2.0 Phase 0
2022
Completed transition to PoS
Technology
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Consensus Mechanism
Transitioned from PoW to Proof-of-Stake (PoS) with “The Merge” in 2022 -
Smart Contract Language
Solidity -
Block Time
~13 seconds
Utility
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Platform for dApps and DeFi
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NFT marketplaces
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Enterprise blockchain solutions
Pros
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Robust developer community
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Wide range of applications
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Continuous upgrades
Cons
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High gas fees during congestion
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Scalability challenges
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Complex development environment