Ethereum Foundation

The Ethereum Foundation is a non-profit organization committed to supporting Ethereum and related technologies. Ethereum is a decentralized platform that allows for the creation and execution of smart contracts and decentralized applications (dApps). Its native cryptocurrency is ether (ETH). Ethereum transitioned from a proof-of-work (PoW) consensus mechanism to a proof-of-stake (PoS) mechanism, which involves validators responsible for storing data, processing transactions, and adding new blocks to the blockchain. Validators are required to stake 32 ETH to participate in the network’s consensus process. Ethereum supports the creation of tokens using standards such as ERC-20 for fungible tokens and ERC-721 for non-fungible tokens (NFTs). To increase transaction throughput and reduce fees, Ethereum employs Layer 2 solutions like rollups, which process transactions off-chain. Ethereum Improvement Proposals (EIPs) specify potential new features or processes for the platform. The Ethereum Foundation organizes Devcon, an annual conference for developers, researchers, and enthusiasts, and runs the Ecosystem Support Program, which provides financial and non-financial support to community projects. The Beacon Chain introduced proof-of-stake and validators to the network, and the transition to proof-of-stake was marked by the Merge, combining the Beacon Chain with the Ethereum Mainnet. Gas fees on Ethereum are used to pay for transactions and smart contract executions. The platform supports decentralized finance (DeFi) applications, offering financial services without intermediaries. Ethereum’s roadmap includes upgrades to improve scalability, security, and sustainability. Its Layer 2 solutions include optimistic rollups and zero-knowledge rollups, which offer different approaches to scaling. Staking rewards are given to validators for actions that help the network reach consensus. Developers can build dApps using various frameworks and tools, and Ethereum’s smart contracts are self-executing agreements with terms directly written into code.