Ethereum (ETH)

It was created by Vitalik Buterin in 2013. Ethereum is a distributed network for smart connections, and many Dapps are currently based on the Ethereum network. It also improved the compatibility between tokens by setting the standard for them in the Ethereum network called ERC-20. Currently, many NFTs based on ERC-721 are also being created based on the Ethereum network. Ethereum (ETH) is a digital asset that is used as currency in the Ethereum network.

First issue	2016.07.	Total issue limit	Unprovided
market capitalization		Current Distribution
As of March 15, 2024 (Courtesy of Coin Market Cap)	￦ 587.4 trillion	As of March 15, 2024 (Courtesy of Coin Market Cap)	120,082,712
As of March 15, 2024 (Courtesy of CoinGecko)	￦ 589.2 trillion	As of March 15, 2024 (Courtesy of CoinGecko)	120,190,674

Characteristics

Ethereum has shifted its consensus algorithm from Proof of Work to Proof of Stake (PoS) in 2022. Based on the Proof of Stake method, several development activities are expected to further dramatically reduce the resources and time required for block verification and creation within Ethereum.
It uses an account-based model to record transactions, such as Ethereum Clack's, which has the advantage of saving storage space, simplifying the Dapp development method, and increasing the possibility of being included in the centralized blacklist by increasing the possibility of substituting between accounts.

Ethereum is the world's largest digital asset with the second largest market capitalization after Bitcoin, and the introduction of smart direct functions opened the beginning of the second generation of blockchain. Numerous business apps have been created on the Ethereum platform, and Ethereum is aiming for a distributed network where they can freely operate. As the NFT market sees it, the potential of Ethereum is getting more attention. In the future, many functions will be added to Ethereum, and active development is being made to solve the problem of inefficiency arising from this process.