At that time, the platform was unique because it was built to help expand the utility of cryptocurrencies by allowing for the programming of applications on a general-purpose blockchain via the use of its ERC-20 standard. Ether is also used as a gas asset within the Ethereum blockchain to pay for smart contract execution.Įthereum was first proposed by Vitalik Buterin, a Russian-Canadian computer programmer, in a whitepaper back in 2013. It has its own native coin, ether, that trades with the ticker symbol ETH. The Purge for simplifying the protocol and removing unnecessary costs and technical debtĮach of these upgrades will occur in parallel, with some receiving higher priority at different time periods given the needs and desires of Ethereum users and developers.Įthereum is an open-source, decentralized smart contract blockchain platform.The Verge for reducing the resources needed to verify blocks.The Scourge for credibly neutral transaction inclusion and MEV management.The Surge for increasing throughput by many orders of magnitude through rollups.The Merge for a robust and decentralized Proof of Stake consensus.Today, researchers have bucketed Ethereum's roadmap into five major upgrades, each individually prioritizing one facet of the chain's mechanics to ensure future-proof sustainability: A previously heavy focus on sharding the execution layer has since shifted towards other scaling solutions, like Danksharding, for example. While Ethereum’s roadmap and focus has changed a lot since its inception, strides have been made in both research and development that have helped ossify and clarify the direction Ethereum is headed. ![]() Ethereum was the world's first smart contract-enabled blockchain, which essentially gave birth to 'Web3' as we know it today.
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