Definition ∞ The Ethereum Platform is a decentralized, open-source blockchain network supporting smart contract functionality. It serves as a foundational layer for numerous decentralized applications and digital assets. This system allows developers to build and deploy self-executing agreements. Its native cryptocurrency, Ether, powers transactions and computational operations across the network.
Context ∞ The Ethereum Platform is currently undergoing significant upgrades to enhance its scalability, security, and sustainability. A key discussion revolves around the transition to a proof-of-stake consensus mechanism and its implications for network performance. Critical future developments include further layer-2 scaling solutions and expanded interoperability, solidifying its position as a central component of the digital economy.
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