Ethereum

Ethereum (ETH) is a public, permissionless smart contract platform launched in 2015. The network introduced general-purpose programmability to blockchain technology, allowing developers to deploy code that runs deterministically across a global network of nodes. Ether (ETH) is the network's native asset, used to pay for computation, settle transactions and secure the network through staking.

Ethereum transitioned to proof-of-stake consensus in 2022 through an upgrade known as the Merge. Validators bond ETH to propose and attest to blocks, with rewards and penalties tied directly to honest participation. Subsequent upgrades have introduced staking withdrawals and dedicated data availability for rollups, supporting a scaling roadmap centred on Layer 2 networks rather than additional execution capacity at the base layer.

The Ethereum ecosystem hosts a wide range of applications, including decentralised exchanges, lending protocols, stablecoins, NFT marketplaces and identity systems, alongside an expanding network of Layer 2 rollups that inherit its security. Within the broader landscape, Ethereum operates as the primary general-purpose settlement layer in crypto, holding the largest share of total value locked across decentralised applications and serving as the underlying base for much of the wider Web3 stack.

Ethereum holders form a distinct segment of the digital asset market, with ETH widely used as collateral, staking capital and the unit of account across decentralised applications and Layer 2 networks. Allocation patterns among individuals, corporate treasuries and exchange-traded products have become increasingly tracked indicators of demand. Readers can explore broader trends among ethereum holders.