Ethereum explained: smart contracts, ETH and proof of stake

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Ethereum is a public blockchain designed to execute smart contracts. Its native asset, ether (ETH), is used to pay transaction fees and can be staked by validators participating in proof-of-stake consensus.

Smart contracts are programs stored and executed through the Ethereum Virtual Machine. They support many kinds of applications, but code execution does not guarantee that an application is lawful, secure, decentralised or economically sound.

Users face risks including volatile fees and prices, irreversible transactions, contract vulnerabilities, malicious approvals, wallet loss and dependence on third-party interfaces.

Technical source: Ethereum technical introduction.

This neutral overview is educational and not investment advice.

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