The Infinite Garden

Overview

Ethereum is a decentralized blockchain platform that introduced smart contract functionality. The platform's native cryptocurrency is ETH (Ether), which is used to pay for transaction fees (gas) and can be staked to secure the network.

Purpose and Utility

ETH serves multiple purposes: it is the native currency required to perform any transaction on the Ethereum network, acts as a store of value, and following the transition to Proof of Stake, can be staked to earn rewards for securing the network. The platform enables the creation of decentralized applications (dApps), non-fungible tokens (NFTs), and various other blockchain-based solutions.

Business Model and Platform Development

Ethereum's business model revolves around providing a platform for decentralized computing. The network has demonstrated consistent development activity, with regular updates and improvements. The most significant recent update was the transition from Proof of Work to Proof of Stake consensus mechanism (The Merge), substantially reducing energy consumption.

Real-World Adoption

Ethereum has achieved widespread adoption, hosting thousands of decentralized applications and serving as the foundation for numerous blockchain projects. It maintains the largest developer community in the cryptocurrency space and processes millions of transactions daily.

Token Distribution

The initial distribution of ETH occurred through a public sale in 2014. The current supply is distributed broadly across millions of addresses, with no single entity controlling a majority of tokens. Network validators must stake 32 ETH to participate in network security.