Ethereum (ETH)
Ethereum is a programmable blockchain, launched in July 2015, that runs smart contracts and most decentralized finance (DeFi) apps. ETH pays for transactions and is staked to secure the network, which switched to proof of stake in September 2022.
Profile last verified 23 September 2026. Live figures from CoinGecko. Not investment advice.
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What is Ethereum?
Ethereum was proposed by Vitalik Buterin and launched on 30 July 2015. Developers deploy programs (smart contracts) on it to create tokens, stablecoins, lending markets, exchanges and NFTs.
In “the Merge” on 15 September 2022, Ethereum replaced mining with proof of stake: validators lock up 32 ETH to propose and attest to blocks. Since 2021 part of every transaction fee (the base fee) is burned, which offsets new issuance when the network is busy.
Key facts
| Ticker | ETH |
|---|---|
| Type | Layer 1 smart-contract platform |
| Launched | July 2015 |
| Consensus | Proof of stake (since the Merge, September 2022) |
| Supply | No fixed maximum. New ETH is issued to stakers while base fees are burned, so net supply can rise or fall. |
| Official site | ethereum.org |
What ETH is used for
- Paying transaction fees (“gas”) on Ethereum and many layer-2 networks
- Staking to earn protocol rewards
- Collateral across DeFi and the base asset for most tokens and stablecoins
Main risks
- Smart-contract bugs and hacks in apps built on Ethereum
- Fees can spike when the network is congested
- Competition from other smart-contract chains and from its own layer-2 networks
- Staking through third parties adds custody and slashing risk
Related guides
Ethereum: frequently asked questions
- Is ETH supply capped like Bitcoin?
- No. Ethereum has no hard cap. Issuance goes to stakers, and the base-fee burn removes ETH, so the supply changes with network activity.
- What is gas on Ethereum?
- Gas is the fee you pay, in ETH, for a transaction or contract call. It is priced in gwei (a billionth of an ETH) and rises when demand for block space is high.
- Can I stake ETH?
- Yes. Running your own validator needs 32 ETH; smaller amounts can be staked through exchanges or liquid-staking protocols, each with its own custody and smart-contract risks.