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Ethereum is a blockchain platform designed to build decentralized applications (dApps) using smart contracts. Ether (ETH), its native cryptocurrency, is the second largest crypto by market cap. It’s used to pay for transaction fees (gas), run dApps, and execute smart contracts. Ether also plays a key role in decentralized finance (DeFi), staking, NFTs, and decentralized exchanges.
Ethereum Classic (ETC) is the original Ethereum blockchain, created after a 2016 hard fork following the DAO hack. While Ethereum (ETH) pursued upgrades, Ethereum Classic chose to maintain the original protocol, focusing on immutability.
Solidity is the primary programming language used to write smart contracts on Ethereum. Its syntax is similar to JavaScript and C++, and it enables developers to create secure, decentralized applications that run on the Ethereum blockchain.
The average block time on Ethereum is about 13–15 seconds in the PoW model. In Ethereum 2.0, the time remains similar but relies on validators, allowing for fast confirmation times compared to some other blockchains.
An ICO, or Initial Coin Offering, is a fundraising method used by blockchain projects. Many ICOs are hosted on Ethereum due to its ERC-20 token standard, allowing projects to issue their own tokens and raise capital for development.
Nodes store and validate the entire Ethereum blockchain, keeping the network decentralized and secure. Full nodes hold the entire blockchain history, while lightweight nodes rely on other nodes for data verification.