The Ethereum Blockchain is a decentralized, open-source, public blockchain system that features smart contract functionality. It serves as a platform for a wide array of decentralized applications (dApps), including decentralized finance (DeFi) protocols, non-fungible tokens (NFTs), and other distributed ledger technologies. Ether (ETH) is its native cryptocurrency, used to pay for transaction fees and computational services on the network.
Context
Current discussions surrounding the Ethereum Blockchain are dominated by its transition to a proof-of-stake consensus mechanism, known as The Merge, and subsequent upgrades like EIP-4844 aimed at reducing transaction costs. News often focuses on network scalability improvements, the evolution of its developer ecosystem, and its role as a foundational layer for numerous other blockchain projects. Future developments will likely concentrate on further enhancing throughput and decentralization while addressing persistent challenges related to gas fees and network congestion.
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