What Is Ethereum?

Created in 2015, Ethereum is a decentralized platform for smart contracts

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While Bitcoin is based on blockchain technology, Ethereum distinguishes itself by relying on decentralized applications (DApps)

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Recently, Ethereum has transitioned its model from proof of work (POW) to proof of stake (POS), allowing users to stake ether coins (ETH) in return for more ETH rewards

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Staking is a key feature of Ethereum 2.0- an upgrade aimed at improving the network's speed, scalability, and sustainability

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With staking, users can validate transactions on the Ethereum network and earn new ETH coins as staking rewards

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To be a validator node on the Ethereum network, a minimum of 32 ETH is required

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Ethereum actively supports the development of decentralized applications meaning that developers can create applications without relying on a third party to function

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This is significant because it has the potential to build secure applications and lower costs for users

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Ethereum is also considered a perfect platform for DeFi protocols because it is censorship-resistant, accessible to anyone with an internet connection

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Even though Ethereum is just a few years old, Ethereum has quickly emerged as the preferred platform for a wide range of decentralized finance (DeFi) protocols

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