What is Ethereum (ETH)?

At its core, Ethereum is a decentralized global software platform powered by blockchain technology. It is most commonly known for its native cryptocurrency, ether (ETH). Ethereum can be used by anyone to create any secured digital technology.

What can ETH do?

There are many cryptocurrencies and lots of other tokens on Ethereum, but there are some things that only ETH can do. ETH is the lifeblood of Ethereum. When you send ETH or use an Ethereum application, you'll pay a fee in ETH to use the Ethereum network.

Who owns the Ethereum network?

Nobody owns or controls the Ethereum network. When you buy Ether, you’re not buying it from Ethereum — you buy it from someone else who owns it. A non-profit foundation, called the Ethereum Foundation, promotes and builds Ethereum-related technology.

Is Ethereum a proof-of-stake?

Ethereum’s transition to the proof-of-stake protocol, which enables users to validate transactions and mint new ETH based on their ether holdings, is part of a significant upgrade to the Ethereum platform. Previously called Eth2, this upgrade is now referred to only as Ethereum. However, Ethereum now has two layers.