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Ethereum 101: The Complete Beginner’s Guide to Ethereum and How It Works

  • Ethereum is a blockchain platform allowing developers to create decentralized applications and smart contracts, distinct from Bitcoin.
  • Vitalik Buterin proposed Ethereum in 2013, with a successful launch in 2015, aiming for a programmable blockchain.
  • Ethereum's technology includes the Ethereum Virtual Machine (EVM) for executing smart contracts and gas for transactions.
  • Key differences between Ethereum and Bitcoin include purpose, block time, consensus model, supply cap, and programmability.
  • Ethereum's Merge transitioned to Proof of Stake, reducing energy consumption and laying the groundwork for scalability.
  • Real-world applications of Ethereum include DeFi, NFTs, gaming, virtual worlds, and enterprise solutions.
  • Challenges for Ethereum include smart contract risks, network congestion, and regulatory uncertainties.
  • Investing in ETH can be done through exchanges, staking, DeFi, or NFT platforms, with consideration for regulations.
  • The future outlook for Ethereum includes growing Layer 2 adoption, institutional use, NFT expansion, DeFi evolution, and cross-chain interoperability.
  • Ethereum remains at the forefront of blockchain innovation, evolving as a global decentralized infrastructure.

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