Ethereum protocols are the established sets of rules and standards that govern the operation and interaction of applications and services on the Ethereum blockchain. These protocols include standards for token creation like ERC-20 and ERC-721, as well as communication standards for decentralized applications. They dictate how smart contracts function, how transactions are validated, and how network participants interact. Adherence to these protocols ensures interoperability and functionality across the Ethereum ecosystem.
Context
Ethereum protocols are continuously evolving, with significant upgrades like the transition to Ethereum 2.0 (now the Consensus Layer) driving major news cycles. Discussions often center on scalability solutions, gas fee optimizations, and the ongoing development of new application standards. The future involves further enhancements to network efficiency and the expansion of its decentralized application capabilities.
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