Ethereum Foundation
The Ethereum Foundation is a non-profit organization dedicated to supporting the decentralized platform Ethereum, which enables the creation and execution of smart contracts and decentralized applications (dApps).
Ethereum Foundation
The Ethereum Foundation is a non-profit organization that is dedicated to supporting the development and growth of the Ethereum platform and its related technologies. The foundation organizes Devcon, an annual conference for Ethereum developers, researchers, and enthusiasts, and also manages the Ecosystem Support Program to provide both financial and non-financial assistance to projects within the Ethereum community.
Ethereum Platform Overview
Ethereum is a decentralized platform that enables the creation and execution of smart contracts and decentralized applications (dApps). Its native cryptocurrency is called ether (ETH), which is used to pay for transaction fees and computations. The platform allows developers to build a diverse array of dApps, including those that facilitate decentralized finance (DeFi), which provides financial services without intermediaries.
Ethereum Transition to Proof-of-Stake
Ethereum transitioned from a proof-of-work (PoW) consensus mechanism to a proof-of-stake (PoS) mechanism, which involves validators who store data, process transactions, and add new blocks to the blockchain. Validators are required to stake 32 ETH to participate in the network's consensus process. The transition was marked by the Merge, which combined the Beacon Chain with the Ethereum Mainnet.
Ethereum Smart Contracts and Token Standards
Ethereum supports the creation and execution of smart contracts, which are self-executing agreements with the terms directly written into code. The platform supports various token standards, including ERC-20 for fungible tokens and ERC-721 for non-fungible tokens (NFTs). These standards enable a wide range of applications and innovations within the Ethereum ecosystem.
Ethereum Layer 2 Solutions and Scalability
Ethereum’s Layer 2 solutions, such as optimistic rollups and zero-knowledge rollups, aim to increase transaction throughput and reduce fees by processing transactions off-chain. These solutions are part of Ethereum's ongoing efforts to improve scalability, security, and sustainability. Ethereum's roadmap includes several upgrades that focus on enhancing these aspects to ensure the network can support growing demand and usage.