{"id":"ethereum","title":"Ethereum","content":"**Ethereum** is a decentralized open-source [blockchain](https://iq.wiki/wiki/blockchain) network powered by the [Ether (ETH)](https://iq.wiki/wiki/ether-eth) token that enables users to make transactions, earn interest on their holdings through [staking](https://iq.wiki/wiki/staking), use and store [nonfungible tokens (NFTs)](https://iq.wiki/wiki/non-fungible-token-nft), trade [cryptocurrencies](https://iq.wiki/wiki/cryptocurrency), play games, use social media, and more.[[2]](#cite-id-39d0alag6ks)​\n\n$$widget0 [YOUTUBE@VID](TDGq4aeevgY)$$\n\nIn late 2013, [Vitalik Buterin](https://iq.wiki/wiki/vitalik-buterin) published his whitepaper outlining the idea of Ethereum. In January 2014, Ethereum was first announced at The North American [Bitcoin](https://iq.wiki/wiki/bitcoin) Conference in Miami. By the end of 2014, Ethereum had its first crowdfunding, raising more than $18 million by selling the native token, Ether.\n\nEthereum went live in 2015 and enabled the [smart contracts](https://iq.wiki/wiki/smart-contract) and applications built on its [blockchain](https://iq.wiki/wiki/blockchain) to run without any third-party interference. Ethereum’s development was released in several main stages.\n\nEach stage represented a necessary system-wide upgrade of the network, at which point old versions were no longer supported. On September 15, 2022, Ethereum transitioned its consensus mechanism from [proof-of-work (PoW) ](https://iq.wiki/wiki/proof-of-work-pow)to [proof-of-stake](https://iq.wiki/wiki/proof-of-stake) (PoS) in an upgrade process known as \"the Merge\". After the Merge, Ethereum's energy consumption rate was reduced by about 99.95% and the upgrade required no actions from Ethereum's users.\n\nAs of April 2022, ETH is among the most popular [cryptocurrencies](https://iq.wiki/wiki/cryptocurrency) and ranks second only behind [Bitcoin](https://iq.wiki/wiki/bitcoin).\n\n### Overview\n\nEthereum was launched in 2015 by [Vitalik Buterin](https://iq.wiki/wiki/vitalik-buterin), [Gavin Wood](https://iq.wiki/wiki/gavin-wood), [Charles Hoskinson](https://iq.wiki/wiki/charles-hoskinson), [Amir Chetrit](https://iq.wiki/wiki/amir-chetrit), [Anthony Di Iorio](https://iq.wiki/wiki/anthony-di-iorio), [Jeffrey Wilcke](https://iq.wiki/wiki/jeffrey-wilcke), [Joseph Lubin](https://iq.wiki/wiki/joe-lubin), and [Mihai Alisie](https://iq.wiki/wiki/mihai-alisie).\n\nEthereum is not controlled by any one entity. It exists solely through the decentralized participation and cooperation of the community.\n\nEthereum makes use of nodes (a computer with a copy of the Ethereum blockchain data) run by volunteers to replace individual servers and cloud systems owned by major internet providers and services.\n\nThese distributed nodes, run by individuals and businesses all over the world, provide resiliency to the Ethereum network infrastructure. It is therefore much less vulnerable to hacks or shutdowns. Since its launch in 2015, Ethereum has never suffered downtime. There are thousands of individual nodes running the Ethereum network.[[2]](#cite-id-39d0alag6ks)​\n\n$$widget0 [YOUTUBE@VID](mPmnOF6_bhU)$$\n\n### History\n\n#### Early Beginnings (2014-2015)\n\nEthereum gained awareness in early 2014 when [Buterin](https://iq.wiki/wiki/vitalik-buterin) brought the concept of the [blockchain](https://iq.wiki/wiki/blockchain) project into the public eye at a [Bitcoin](https://iq.wiki/wiki/bitcoin) conference in Miami Florida. The introductory paper was published in 2014, before the project's launch in 2015. In April 2014, The [Yellow](https://iq.wiki/wiki/yellow) Paper, a technical definition of the Ethereum protocol, was released authored by [Dr. Gavin Wood](https://iq.wiki/wiki/gavin-wood).[[3]](#cite-id-o8tjs9lh83f)​\n\n![image](https://ipfs.everipedia.org/ipfs/QmbsK4A1wst9qe7QCpLYDGB3pdivBAFd5xCkN4B2QhvWGB)\n\nThe project raised capital via an [initial coin offering](https://iq.wiki/wiki/initial-coin-offering) (ICO) selling millions of dollars' worth of ETH coins in exchange for funds to use for the development of the project. Ether officially went on sale on July 22, 2014. The sale lasted for 42 days. The price of ether was initially set to a discounted price of 2000 ETH per BTC and stayed this way for 14 days before linearly declining to a final rate of 1337 ETH per BTC. In total, the asset sale sold over $18 million worth of ETH, paid for in [Bitcoin](https://iq.wiki/wiki/bitcoin).[[4]](#cite-id-euk68r5zyj)​[[6]](#cite-id-22rsf7jmez)​\n\nAlthough ETH coins were purchasable in 2014, the Ethereum [blockchain](https://iq.wiki/wiki/blockchain) did not actually go live until July 30, 2015, meaning ETH buyers had to wait for the [blockchain](https://iq.wiki/wiki/blockchain) to launch before they could move or use their ETH. \n\n​[Frontier](https://iq.wiki/wiki/frontier), a barebone implementation of the Ethereum project went live and followed the successful Olympic testing phase. It was intended for technical users, specifically developers. As of September 15, 2015, ETH price was $1.24 USD.[[6]](#cite-id-22rsf7jmez)​\n\n#### Further Development (2016-2021)\n\n##### The DAO Hack\n\nA project that launched in 2016, the [DAO](https://iq.wiki/wiki/dao) served as an Ethereum-based decentralized autonomous organization fund. Interested parties sent ETH to a pool of funds within the DAO and received DAO tokens in return. These tokens could, at the time, be used to vote on where the DAO would allocate its pool of capital. The DAO attracted about $150 million worth of ETH in 2016, given ETH’s United States dollar price at the time.[[6]](#cite-id-22rsf7jmez)​\n\nIn 2016, however, the DAO suffered a hack that took over 3.6 million ETH from the DAO’s asset pool. The Ethereum community was then split into two parts. A majority of the Ethereum community agreed with the idea to alter the [blockchain](https://iq.wiki/wiki/blockchain) in response to the hack, leading to a hard fork of the network. The hard fork resulted in two separate blockchains and two separate native assets on those chains.\n\nThe Ethereum blockchain forked off to regain the assets lost from the hack. The resulting forked asset and [blockchain](https://iq.wiki/wiki/blockchain) is the one that now holds the Ethereum name. What is now called [Ethereum Classic](https://iq.wiki/wiki/ethereum-classic) (ETC) is the original version of the Ethereum blockchain.\n\n##### Enterprise Ethereum Alliance\n\nIn February 2017, blockchain leaders, adopters, and innovators from all over the world formed an Enterprise Ethereum Alliance (EEA), the organization that supports and backs Ethereum and related developments and initiatives.\n\nThe founding members of the Enterprise Ethereum Alliance rotating board included Accenture, Banco Santander, BlockApps, BNY Mellon, CME Group, ConsenSys, IC3, Intel, J.P. Morgan, Microsoft, and Nuco.\n\nAdditional founding members included AMIS, Andui, BBVA, brainbot technologies, BP, Chronicled, Credit Suisse, Cryptape, Fubon Financial, ING, The Institutes, Monax, String Labs, Telindus, [Tendermint](https://iq.wiki/wiki/tendermint), Thomson Reuters, UBS, VidRoll, and Wipro, among others. In July 2017, EEA added 34 new members and thus had over 150 members of the EEA. [[8]](#cite-id-kqbk4ee9nf)​[[9]](#cite-id-cbrs8gw3bwk)​\n\n$$widget0 [YOUTUBE@VID](QsWS1QsIQaQ)$$\n\nIn 2017, the Ethereum currency increased by more than 13,000 percent.[[7]](#cite-id-m26e29fph7l)​\n\nSince Ethereum’s initial launch, the [blockchain](https://iq.wiki/wiki/blockchain) has taken on many other updates as part of its progressions, such as updates called Byzantium, Constantinople, and the Beacon Chain. Each update has altered certain aspects of the blockchain. Beacon Chain, for example, launched the transition of the Ethereum blockchain to Ethereum 2.0 (Eth2), a shift from a [proof-of-work (PoW)](https://iq.wiki/wiki/proof-of-work-pow) to a [proof-of-stake](https://iq.wiki/wiki/proof-of-stake) (PoS) consensus mechanism.\n\nByzantium and Constantinople each brought a number of changes to the Ethereum blockchain, including a mining payout reduction down to three ETH from five (after Byzantium and preparation for the PoS transition during Constantinople).[[6]](#cite-id-22rsf7jmez)​\n\nIn March 2021, Visa started settling transactions with crypto partners in [USDC](https://iq.wiki/wiki/usdc) on Ethereum. Visa is already partnering with 35 digital currency platforms, including [Coinbase](https://iq.wiki/wiki/coinbase), [Crypto.com](https://iq.wiki/wiki/cryptocom), BlockFi, and [Bitpanda](https://iq.wiki/wiki/bitpanda).[[10]](#cite-id-7vn6nm8wt6)​\n\nIn August 2021, the London update went live. It included Ethereum Improvement Proposal (\"EIP\") 1559, which aimed to change the way transaction fees, or “gas fees,” are estimated. Previously, users had to bid for how much they were willing to pay to have their ether transaction picked up by a miner, which could sometimes be costly.\n\nUnder EIP-1559, this process is handled by an automated bidding system with a set fee amount that fluctuates based on how congested the network is. Another major change under EIP-1559 is that part of every transaction fee is burned, or removed from circulation, which reduces the supply of ether and can potentially boost its price.[[11]](#cite-id-6l5czr7z8xm)​[[20]](#cite-id-tbdv91ffr6)​\n\nIn 2020 and 2021, Ethereum faced two main challenges: a congested network that could only handle a limited number of transactions per second with increased gas fees for faster transactions, and the large consumption of energy that comes with the [proof-of-work](https://iq.wiki/wiki/proof-of-work-pow) mechanism.\n\nTo increase the scalability of the chain, reduce its environmental impact, and introduce new features, the developers behind Ethereum started preparations for the Merge, a major upgrade to the Ethereum [blockchain](https://iq.wiki/wiki/blockchain).[[6]](#cite-id-22rsf7jmez)​[[21]](#cite-id-ohqpdtjc8a)​\n\n## Ethereum's major upgrades and roadmap\n\nEthereum co-founder [Vitalik Buterin](https://iq.wiki/wiki/vitalik-buterin) made a concerted effort to educate the broader [web3](https://iq.wiki/wiki/web3) community about the roadmap by publishing transparent visuals outlining the protocol’s development path. Vitalik posted the first visual roadmap to Twitter in March 2020. The most recent visual roadmap was shared on November 4, 2022.[[38]](#cite-id-na5091bfgnt)​\n\n$$widget0 [YOUTUBE@VID](HXdIF2Kp5A8)$$\n\n### The Merge\n\nOriginally referred to as Ethereum 2.0, The Merge is an upgraded version of the Ethereum blockchain that uses a [proof-of-stake](https://iq.wiki/wiki/proof-of-stake) [consensus mechanism](https://iq.wiki/wiki/consensus-mechanism) to verify transactions via [staking](https://iq.wiki/wiki/staking).\n\nThe staking mechanism Ethereum replaced the [proof-of-work](https://iq.wiki/wiki/proof-of-work-pow) model where [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) miners use high-powered computers to complete complex mathematical functions known as [hashes](https://iq.wiki/wiki/cryptographic-hash-function-chf).\n\nThe mining process requires an ever-increasing amount of electricity to verify Ethereum transactions before they are recorded on the public blockchain. With [proof of work](https://iq.wiki/wiki/proof-of-work-pow), Ethereum had an annual power consumption roughly equal to Finland, producing a carbon footprint similar to Switzerland. Post-merge, Ethereum reduced its carbon footprint by up to 99.95%, addressing one of the major criticisms of the [cryptocurrency](https://iq.wiki/wiki/cryptocurrency).[[12]](#cite-id-bbwzckqtmfg)​\n\n$$widget0 [YOUTUBE@VID](bftLben94go)$$\n\nIn December 2020, Ethereum began running on two parallel [blockchains](https://iq.wiki/wiki/blockchain), a legacy one that operates using [proof of work](https://iq.wiki/wiki/proof-of-work-pow) (Ethereum [Mainnet](https://iq.wiki/wiki/mainnet)) and a new chain for [proof of stake ](https://iq.wiki/wiki/proof-of-stake)(Beacon Chain).\n\nThe merge combined Ethereum’s [Mainnet](https://iq.wiki/wiki/mainnet) and Beacon Chain into one unified [blockchain](https://iq.wiki/wiki/blockchain) operating on a [proof of stake](https://iq.wiki/wiki/proof-of-stake) protocol. The Ethereum [Mainnet](https://iq.wiki/wiki/mainnet) and Beacon Chain were originally referred to as ETH1 and ETH2, respectively. Their eventual merge was expected to be called Ethereum 2.0.[[12]](#cite-id-bbwzckqtmfg)​\n\nIn January 2022, the term Ethereum 2.0. was deprecated by the Ethereum [Foundation](https://iq.wiki/wiki/foundation).\n\nThey believed Ethereum 2.0 sounded too much like a different operating system, which is not at all what the merge is intended to implement. The Merge took place on September 15, 2022, integrating the two existing independent chains in the Ethereum ecosystem: the execution layer and the consensus layer (Beacon Chain).[[43]](#cite-id-3FN3ylmmX1PSLeQZ)​\n\n### Shapella Upgrade\n\n$$widget0 [YOUTUBE@VID](UtGDvW2CaOU)$$\n\nEthereum’s Shapella upgrade was set to go live on [mainnet](https://iq.wiki/wiki/mainnet) for epoch 194048, scheduled for 22:27:35 UTC on Apr. 12, 2023. Shanghai upgrade combined changes to the execution layer (Shanghai), the consensus layer (Capella), and the Engine API.[[30]](#cite-id-en9ny7z4oy)​\n\nUpgrades to the execution layer followed Devcon city names and those to the consensus layer follow star names. \"Shapella\" was the combination of Shanghai, the location of Devcon 2, and Capella, the brightest star in the northern constellation of Auriga.[[30]](#cite-id-en9ny7z4oy)​\n\n#### Shanghai\n\nThe Shanghai hard fork would implement [EIP-4895](https://iq.wiki/wiki/eip-4895), which allowed [validators](https://iq.wiki/wiki/validator) to withdraw ETH that had been staked since as long ago as December 2020. The fork notably did not include [EIP-4844](https://iq.wiki/wiki/eip-4844), which facilitates the “[sharding](https://iq.wiki/wiki/sharding)” of the Ethereum blockchain into multiple chains in order to facilitate scalability.\n\nThe six proposals that made up the upgrade include:\n- [EIP-3860](https://iq.wiki/wiki/eip-3860): Limit and Meter Initcode – The proposal limits the maximum size of initcode to 49152 and applies an extra 2 gas for every 32-byte chunk of initcode. This essentially solves out-of-gas exceptions on Ethereum.\n- [EIP-3855](https://iq.wiki/wiki/eip-3855): PUSH0 Instruction – This EIP brings a new instruction for the EVM that helps shrink the size of [smart contracts ](https://iq.wiki/wiki/smart-contract)and optimizes the contract code.\n- [EIP-3651](https://iq.wiki/wiki/eip-3651): Warm [COINBASE](https://iq.wiki/wiki/coinbase) – Not to be confused with the similarly named centralized [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) exchange, this proposal makes block building cheaper and allows for builder-proposer separation. In doing so, gas fees will be cut for network participants and traders using builders to execute their complex trades will no longer have to pay for failed transactions.[[26]](#cite-id-vnmd23h8pb)[[25]](#cite-id-6wn9ipbje6)[[27]](#cite-id-0rcilt26a68g)\n- [EIP-6049](https://iq.wiki/wiki/eip-6049): Aims to improve the security and reliability of smart contracts in Ethereum by deprecating the problematic self-destruct opcode and replacing it with a more secure and controlled function called \"halt\".\n- [EIP-4895](https://iq.wiki/wiki/eip-4895): Enables validators to withdraw their stake of 32 ETH from the staking contract on the Ethereum blockchain since the transition to Proof-of-Stake (PoS).\n- [ERC-4337](https://iq.wiki/wiki/erc-4337): The launch of the new ERC-4337 standard has enabled Ethereum to introduce Smart accounts, which are now accessible on Ethereum and aimed at promoting mainstream adoption by simplifying the use of cryptocurrencies.\n\n#### Capella\n\nAs mentioned in the official blog post by the Ethereum [Foundation](https://iq.wiki/wiki/foundation), the Capella upgrade made it possible for ETH that is “locked” on Ethereum’s consensus layer (i.e. validator balances) to be withdrawn, and credited to an Ethereum address on the execution layer.[[30]](#cite-id-en9ny7z4oy)​\n\n#### Engine API\n\nChanges to the Engine API that links the two layers included the introduction of the WithdrawalV1 structure and the additions to relevant structures and methods.[[30]](#cite-id-en9ny7z4oy)​\n\n### Roadmap after the Merge Upgrade\n\nAfter the Merge, there were no longer two [blockchains](https://iq.wiki/wiki/blockchain) in the [Ethereum](https://iq.wiki/wiki/ethereum) ecosystem. It only had one Ethereum [mainnet](https://iq.wiki/wiki/mainnet) that run on the [PoS](https://iq.wiki/wiki/proof-of-stake) [consensus mechanism](https://iq.wiki/wiki/consensus-mechanism). Thus, Ethereum [mining](https://iq.wiki/wiki/mining) no longer occurred as the network rewards the users with new ETH for [staking](https://iq.wiki/wiki/staking) their existing ETH tokens. This approach had reduced the power consumption of Ethereum by a staggering 99.95%.\n\nHowever, the transaction throughput of Ethereum had not improved significantly after the Merge Upgrade.\n\nThe only relatable thing this upgrade had done for Ethereum transactions was that the average block time of Ethereum dropped to 12 seconds from 13-14 seconds, concluding that it would require more upgrades to boost its transaction speed.[[32]](#cite-id-4y83q9096v5)​[[34]](#cite-id-g9ggw1kuck4)​[[36]](#cite-id-8cld2pkp7jp)​\n\n$$widget0 [YOUTUBE@VID](2450z356OLw)$$\n\n#### The Surge\n\nThe Surge upgrade dealt with censorship resistance, centralization issues, and protocol risks.[[32]](#cite-id-4y83q9096v5)​\n\nInitially, Ethereum developers decided to scale it through a process known as “execution [sharding](https://iq.wiki/wiki/sharding)” that would have divided a network into 64 shard chains.\n\nHowever, after analyzing the capabilities of [layer-2](https://iq.wiki/wiki/layer-2) [roll-ups](https://iq.wiki/wiki/rollup), they concluded that layer-2 rollups and [Danksharding](https://iq.wiki/wiki/danksharding) would scale the network without implementing shard chains. Thus, they dropped [Shard](https://iq.wiki/wiki/sharding) chains from the roadmap.[[33]](#cite-id-9pfqin1sp1a)​\n\n![The Surge.png](https://ipfs.everipedia.org/ipfs/QmNNUNnMbt7WR2EqzrT3Hhu58KvBkmtBtEfH8EGyecScnA)\n\n##### L2 Rollups\n\nL2 Rollups were the layer-2 Scaling solution made of regular [Smart contracts](https://iq.wiki/wiki/smart-contract) on the Ethereum blockchain. They served as a relay between the main chain and a [layer-2 ](https://iq.wiki/wiki/layer-2)blockchain to reduce the load of Ethereum.\n\nWith their help, it became possible to perform transactions on [Layer 2](https://iq.wiki/wiki/layer-2). They grouped transactions into batches, executed them off-chain, and stored small data from each transaction on the main chain.[[32]](#cite-id-4y83q9096v5)​\n\n##### Dencun Upgrade\n\nThe [Dencun upgrade](https://iq.wiki/wiki/dencun-upgrade) was part of Ethereum's \"The Surge\" era, which aimed to make the network more scalable and easier to use. \n\nDencun upgrade launched on March 13, 2024 marking a significant hard fork update aimed at boosting the Ethereum network's scalability, security, and user-friendliness. As part of Ethereum's roadmap initiative, dubbed 'The Surge,' this upgrade is a pivotal step forward in scalability enhancements.\n\nThe Ethereum Dencun (Cancun-Deneb) Upgrade, with Cancun refining the Execution Layer (EL) and Deneb enhancing the Consensus Layer (CL), incorporated a suite of [Ethereum Improvement Proposals (EIPs)](https://iq.wiki/wiki/ethereum-improvement-proposal-eip) vital for the network's advancement.\n- [EIP-1153](https://iq.wiki/wiki/eip-1153): Transient Storage opcodes\n- [EIP-4788](https://iq.wiki/wiki/eip-4788): Beacon block root in the EVM\n- [EIP-4844](https://iq.wiki/wiki/eip-4844): Shard Blob Transactions\n- [EIP-5656](https://iq.wiki/wiki/eip-5656): MCOPY - Memory copying instruction\n- [EIP-6780](https://iq.wiki/wiki/eip-6780): SELFDESTRUCT only in the same transaction\n- [EIP-7044](https://iq.wiki/wiki/eip-7044): Perpetually Valid Signed Voluntary Exits\n- [EIP-7045](https://iq.wiki/wiki/eip-7045): Increase max attestation inclusion slot\n- [EIP-7514](https://iq.wiki/wiki/eip-7514): Add Max Epoch Churn Limit\n- [EIP-7516](https://iq.wiki/wiki/eip-7516): BLOBBASEFEE Opcode\n\nThese EIPs were integral to the upgrade's objectives, such as improving data storage capabilities and reducing operational costs on the [blockchain](https://iq.wiki/wiki/blockchain). [[31]](#cite-id-b6gj0pzpbs8)​\n\n##### Ethereum Pectra Upgrade\n\nThe [Ethereum Pectra upgrade](https://iq.wiki/wiki/ethereum-pectra-upgrade) went live on the Ethereum mainnet at the start of epoch 364032 on May 7, 2025. The upgrade focused on improvements to smart accounts, L2 scaling, and validator user experience. [[41]](#cite-id-u5IradER2Q) Three of the main Ethereum Improvement Proposals (EIPs) included were EIP-7702, EIP-7251, and EIP-7691. [[42]](#cite-id-H8Sj3GcY1I)​\n\n##### Fusaka Upgrade\n\nActivated on the [mainnet](https://iq.wiki/wiki/mainnet) on December 3, 2025, the Fulu-Osaka (Fusaka) upgrade is a major [hard fork](https://iq.wiki/wiki/hard-fork) following the Pectra upgrade. Its primary goal is to significantly enhance Ethereum's scalability for Layer 2 rollups by introducing Peer Data Availability Sampling (PeerDAS). Fusaka is a key part of \"The Surge\" phase of the Ethereum roadmap and includes roughly 12 EIPs.[[44]](#cite-id-kRbF3ECcfnSYxVJ5)​[[45]](#cite-id-yfOZecN7AUQuhBWm)​\n\nThe headline feature of the upgrade is **EIP-7594 (PeerDAS)**, a mechanism that allows network nodes to verify large amounts of L2 data (\"blobs\") by sampling small, random parts of it instead of downloading the entire dataset. This is designed to enable a theoretical eightfold increase in data throughput for L2s while lowering the hardware and bandwidth requirements for nodes.[[44]](#cite-id-kRbF3ECcfnSYxVJ5)​\n\nFollowing the main fork, the network plans to execute a series of smaller, \"Blob-Parameter-Only\" (BPO) forks to incrementally increase data capacity. The first two BPO forks are planned to raise the maximum blob count per block from 9 to 15 (around December 17, 2025) and then to 21 (in January 2026).[[46]](#cite-id-2wq0oxfI712oMItF)​\n\nFusaka also introduces significant user experience improvements. **EIP-7951** adds a precompile for the `secp256r1` curve, enabling native support for device-based security such as Apple's Secure Enclave, Android Keystore, and WebAuthn (Passkeys). This change allows for the creation of smart accounts that do not rely on traditional seed phrases, simplifying user onboarding and enhancing security.[[44]](#cite-id-kRbF3ECcfnSYxVJ5)​\n\nOther notable changes include EIP-7825, which sets a maximum gas limit for a single transaction to prevent denial-of-service risks, and an increase of the block gas limit to approximately 60 million via EIP-7935. To prepare for the launch, the Ethereum [Foundation](https://iq.wiki/wiki/foundation), Gnosis, and Lido sponsored a $2 million audit contest in September 2025 to identify potential vulnerabilities.[ [46]](#cite-id-2wq0oxfI712oMItF)​\n\n#### The Scourge\n\nThe Scourge upgrade involves boosting Ethereum blockchain scalability by [Rollups](https://iq.wiki/wiki/rollup) and data-sharing addressing the censorship and centralization issues of Ethereum 2.0. Its goal is to ensure decentralization and eliminate some crucial protocol risks by establishing a neutral consensus layer biased to none.\n\nScourge will also solve the MEV issues associated with Ethereum. MEV is the maximum extra value a miner can extract from block production more than the standard block reward and gas fee by wrong practices.[[32]](#cite-id-4y83q9096v5)​\n\n![The Scourge.png](https://ipfs.everipedia.org/ipfs/QmYgEumcHVcKLABAyhHdQdu9mfVMTzmasKA8NG6gU2Acek)\n\n#### The Verge\n\nCurrently, the validators must run a full node that requires very high dedicated storage and CPU, which is non-feasible for Ethereum block validators with limited storage space and capital. Ethereum developers came up with “Light Clients” to solve this issue.\n\nThe Verge will remove the need for validators to maintain a complete transaction history of Ethereum and aims to simplify the complex and resource-intensive block verification process for [validators](https://iq.wiki/wiki/validator). It will not only help the existing validators but will also open doors for new entrants.\n\n![The Verge.png](https://ipfs.everipedia.org/ipfs/QmW29sbXygqVXmYqo8b2Yo4d5Jwa32CkAHR3SmzBRBMW1W)\n\nThe providers collect the required data for light clients using their resources and connections. Once a light node receives the data from providers, it only needs to verify it. The “lightness” of a light client node will vary depending on its resources and storage space.\n\nThe Verge upgrade will also introduce Verkle Trees, an upgrade to Merkle Proofs that requires smaller proof sizes. Even though Merkle Proof enhances blockchain security, it utilizes significant space that proves problematic in the scaling.\n\nVerkle proofs will be an improved version of Merkle proofs and require much less space. Verkle proofs will also enable Ethereum to use better [zero-knowledge-proof](https://iq.wiki/wiki/zero-knowledge-proofs-zkps) technologies like [SNARKs](https://iq.wiki/wiki/zk-snark) and STARKs. [[32]](#cite-id-4y83q9096v5)​\n\n#### The Purge\n\nThe Purge will be the fifth milestone event for [Ethereum](https://iq.wiki/wiki/ethereum) as it will introduce history expiration to reduce the Hard disk requirements for node operators. The Purge upgrade will introduce [EIP-4444](https://iq.wiki/wiki/eip-4444) that all node operators will not need to store the data of previous blocks. The nodes will stop serving historical blocks older than a year.\n\nOnce a node syncs fully with the [blockchain](https://iq.wiki/wiki/ethereum), it no longer needs the historical data over 365 days to verify new blocks and the recorded data will only be available when someone requests it or when a node needs it to sync with the blockchain.\n\nThe new nodes will get a new syncing mechanism at the time of this upgrade. This new mechanism could be “checkpoint Sync,” which will sync the chain from the most recently decided checkpoint block instead of the genesis block. This step will reduce the network congestion and storage entry point for validators.\n\n​[Buterin](https://iq.wiki/wiki/vitalik-buterin) said that [EIP-4444](https://iq.wiki/wiki/eip-4444) can greatly increase Ethereum’s node decentralization.[[32]](#cite-id-4y83q9096v5)​[[37]](#cite-id-e4moih7lext)​\n\n> “Potentially, if each node stores small percentages of the history by default, we could even have roughly as many copies of each specific piece of history stored across the network as we do today.”\n\n![The Purge (1).png](https://ipfs.everipedia.org/ipfs/QmT7scw75x5D9D9KWeP2EKx2LnVFvEuFoZiK9W2FRmKGM3)\n\nThe goal of the Purge upgrade is to simplify how Ethereum works and to reduce the amount of computer resources needed to run an Ethereum node.[[35]](#cite-id-ma8z0z4llr8)​\n\n#### The Splurge\n\nThe Splurge is the last upgrade and is the grouping of all the smaller upgrades that the Ethereum blockchain will require to fix everything that goes wrong with the aforementioned five updates. It will also combine the improvement proposals that do not fit the other upgrades.\n\n​[Vitalik](https://iq.wiki/wiki/vitalik-buterin) describes this stage as\n\n> “the enjoyable stuff once all of the preceding phases have merged”.\n\nAs the roadmap can change with time according to the best interest of Ethereum and its users, it is possible that by the time the Splurge is reached, it will include many upgrades and improvements.[[39]](#cite-id-bs84vfs1ii)​\n\n![The Splurge (1).png](https://ipfs.everipedia.org/ipfs/QmX8VkEmpsL8qurt4JWa5whvCfdbNEkQZfLPhTnuyVs9NX)\n\n## Accounts\n\nAn Ethereum account is an entity with an ether (ETH) balance that can send transactions on Ethereum. Accounts can be user-controlled (controlled by anyone with private keys) or deployed as [smart contracts](https://iq.wiki/wiki/smart-contract) (controlled by code).\n\nBoth account types have the ability to receive, hold and send ETH and tokens, and interact with deployed smart contracts.[[15]](#cite-id-21cn7ja1f5i)​\n\n### Smart Accounts Update\n\nOn March 1, 2023, during WalletCon in Denver, [Yoav Weiss](https://iq.wiki/wiki/yoav-weiss), a security researcher from the Ethereum [Foundation](https://iq.wiki/wiki/foundation), announced that the primary contracts for [ERC-4337](https://iq.wiki/wiki/erc-4337), commonly referred to as \"account abstraction\" by blockchain developers, had undergone an audit by [Open Zeppelin](https://iq.wiki/wiki/openzeppelin) and were approved for use on all Ethereum Virtual Machine (EVM) compatible networks, including [Polygon](https://iq.wiki/wiki/polygon), [Optimism](https://iq.wiki/wiki/optimism), [Arbitrum](https://iq.wiki/wiki/arbitrum), [BNB Smart Chain](https://iq.wiki/wiki/binance-smart-chain), [Avalanche](https://iq.wiki/wiki/avalanche), and Gnosis Chain. [[28]](#cite-id-ba8l2s49n3j)​\n\nAccount abstraction, also known as ERC-4337 (previously EIP-4337), serves as the foundation for several functionalities, such as account recovery and group-access wallets. Its potential applications include reduced transaction fees through bundled and sponsored transactions. [[29]](#cite-id-6sqhsu6vcgw)​\n\nAdditionally, this also allows cryptographic keys to be stored on standard smartphone security modules, effectively turning them into hardware wallets. This enables platforms to offer cryptocurrency services without the need for users to create a conventional wallet and manually save their seed phrase or private key. With account abstraction, the keys are kept locally on the user's hardware security module (HSM), not with a service provider. As a result, it is just as secure as a self-custodied cryptocurrency wallet. [[29]](#cite-id-6sqhsu6vcgw)​\n\n> “The next billion users are not going to write 12 words on a piece of paper. Normal people don’t do that,” he said. “We need to give them better usability, they shouldn’t need to think about cryptographic keys.” - )), security researcher at the Ethereum )] - ([undefined](https://iq.wiki/wiki/foundation)\n\nFinally, smart accounts also offer additional features such as two-factor authentication, monthly spending limits, session keys for blockchain games, and time-locked social recovery through trusted friends or commercial services. [[29]](#cite-id-6sqhsu6vcgw)​\n\n## Blocks\n\nBlocks are batches of transactions with a hash of the previous block in the chain. This links blocks together (in a chain) because hashes are cryptographically derived from the block data. This prevents fraud because one change in any block in history would invalidate all the following blocks as all subsequent hashes would change and everyone running the [blockchain](https://iq.wiki/wiki/blockchain) would notice.\n\nTo preserve the transaction history, blocks are strictly ordered (every new block created contains a reference to its parent block), and transactions within blocks are strictly ordered as well. Except in rare cases, at any given time, all participants on the network are in agreement on the exact number and history of blocks and are working to batch the current live transaction requests into the next block.\n\nOnce a block is put together by some validator on the network, it is propagated to the rest of the network; all nodes add this block to the end of their [blockchain](https://iq.wiki/wiki/blockchain), and a new validator is selected to create the next block. The exact block-assembly process and commitment/consensus process is currently specified by Ethereum’s “[proof-of-stake](https://iq.wiki/wiki/proof-of-stake)” protocol.[[16]](#cite-id-wsb1ofb729)​\n\n## Gas & Fees\n\n​[Gas](https://iq.wiki/wiki/gas) is essential to the Ethereum network. It is the fuel that allows it to operate, in the same way that a car needs gasoline to run. [Gas](https://iq.wiki/wiki/gas) refers to the unit that measures the amount of computational effort required to execute specific operations on the Ethereum network.\n\nSince each Ethereum transaction requires computational resources to execute, each transaction requires a fee. [Gas](https://iq.wiki/wiki/gas) refers to the fee required to conduct a transaction on Ethereum successfully.[[17]](#cite-id-v3gu4awl5uo)​\n\n​[Gas](https://iq.wiki/wiki/gas) fees are paid in Ethereum's native currency, ether (ETH). [Gas](https://iq.wiki/wiki/gas) prices are denoted in [gwei](https://iq.wiki/wiki/gwei), which itself is a denomination of ETH - each gwei is equal to 0.000000001 ETH (10-9 ETH). For example, instead of saying that gas costs 0.000000001 ether, one can say that gas costs 1 gwei. The word 'gwei' itself means 'giga-wei', which equals 1,000,000,000 wei. Wei itself is the smallest unit of ETH.[ [19]](#cite-id-v3gu4awl5uo)​\n\nApart from that, every block has a base fee which acts as a reserve price. To be eligible for inclusion in a block the offered price per gas must at least equal the base fee. The base fee is calculated independently of the current block and is instead determined by the blocks before it - making transaction fees more predictable for users. When the block is mined this base fee is \"burned\", removing it from circulation.\n\n## Nodes & Clients\n\nEthereum is a distributed network of computers (known as nodes) running software that can verify blocks and transaction data. A \"node\" is any instance of Ethereum client software that is connected to other computers also running Ethereum software, forming a network.\n\nA client is an implementation of Ethereum that verifies data against the protocol rules and keeps the network secure.\n\nPost-Merge Ethereum consists of two parts: the execution layer and the consensus layer:\n- The execution client listens to new transactions broadcasted in the network, executes them in EVM, and holds the latest state and database of all current Ethereum data.\n- The consensus client implements the [proof-of-stake](https://iq.wiki/wiki/proof-of-stake) consensus algorithm, which enables the network to achieve agreement based on validated data from the execution client.[[18]](#cite-id-53payynr269)\n\nBefore The Merge, the consensus and execution layers were separate networks, with all transactions and user activity on Ethereum happening at what is now the execution layer.\n\nOne client software provided both execution environment and consensus verification of blocks produced by miners. The consensus layer, the Beacon Chain, has been running separately since December 2020. It introduced [proof-of-stake](https://iq.wiki/wiki/proof-of-stake) and coordinated the network of validators based on data from the Ethereum network. With the Merge, Ethereum transitions to proof-of-stake by connecting these networks. Execution and consensus clients work together to verify Ethereum's state.[[18]](#cite-id-53payynr269)​\n\n## Networks\n\nNetworks are different Ethereum environments one can access for development, testing, or production use cases. Since Ethereum is a protocol, there can be multiple independent \"networks\" that conform to the protocol without interacting with each other.\n\n### Public Networks\n\nPublic networks are accessible to anyone in the world with an internet connection. Anyone can read or create transactions on a public [blockchain](https://iq.wiki/wiki/blockchain) and validate the transactions being executed.\n\n#### Ethereum Mainnet\n\n​[Mainnet](https://iq.wiki/wiki/mainnet) is the primary public Ethereum production [blockchain](https://iq.wiki/wiki/blockchain), where actual-value transactions occur on the distributed ledger.\n\n#### Ethereum Testnets\n\nIn addition to [Mainnet](https://iq.wiki/wiki/mainnet), there are public testnets. These are networks used by protocol developers or [smart contract](https://iq.wiki/wiki/smart-contract) developers to test both protocol upgrades as well as potential smart contracts in a production-like environment before deployment to [Mainnet](https://iq.wiki/wiki/mainnet).\n\nThe Ethereum testnets are now [proof-of-stake](https://iq.wiki/wiki/proof-of-stake), just like Ethereum [Mainnet](https://iq.wiki/wiki/mainnet). ETH on testnets has no real value; therefore, there are no markets for testnet ETH. Since one needs ETH to actually interact with Ethereum, most people get testnet ETH from faucets.\n\nMost faucets are web apps where one can input an address to which one requests ETH to be sent to.[[19]](#cite-id-ccnjs3n5tdc)​\n- Goerli: a proof-of-stake testnet. It is expected to be maintained long-term as a stable testnet for application developers. Before its testnet merge, Goerli was a proof-of-authority testnet.\n- Sepolia: a [proof-of-stake](https://iq.wiki/wiki/proof-of-stake) testnet. Although Sepolia is still running, it is not currently planned to be maintained long-term. Before undergoing The Merge in June 2022, Sepolia was a [proof-of-work ](https://iq.wiki/wiki/proof-of-work-pow)testnet.\n- Ropsten (deprecated): a [proof-of-stake](https://iq.wiki/wiki/proof-of-stake) testnet. Ropsten will be deprecated in late 2022. Before undergoing The Merge in May 2022, Ropsten was a [proof-of-work ](https://iq.wiki/wiki/proof-of-work-pow)testnet.\n- Rinkeby (deprecated): a proof-of-authority testnet for those running old versions of the [Geth](https://iq.wiki/wiki/geth) client. The Rinkeby testnet is deprecated and will no longer receive protocol upgrades.\n- Kovan (deprecated): a very old proof-of-authority testnet for those still running OpenEthereum clients. The Kovan testnet is deprecated and will no longer receive protocol upgrades.\n\n#### Layer 2 testnets\n\n​[Layer 2](https://iq.wiki/wiki/layer-2) (L2) is a collective term to describe a specific set of Ethereum scaling solutions. [Layer 2](https://iq.wiki/wiki/layer-2) is a separate [blockchain](https://iq.wiki/wiki/blockchain) that extends Ethereum and inherits the security guarantees of Ethereum. Layer 2 testnets are usually tightly coupled to public Ethereum testnets.\n- [Arbitrum](https://iq.wiki/wiki/arbitrum) Rinkeby: testnet for [Arbitrum](https://iq.wiki/wiki/arbitrum).\n- Optimistic Kovan: testnet for [Optimism](https://iq.wiki/wiki/optimism).\n\n### Private Networks\n\nAn Ethereum network is a private network if its nodes are not connected to a public network (i.e. [Mainnet](https://iq.wiki/wiki/mainnet) or a testnet). In this context, private only means reserved or isolated, rather than protected or secure.\n\n#### Development networks\n\nTo develop an Ethereum application, one will want to run it on a private network to see how it works before deploying it. This allows for much faster iteration than a public testnet.\n\n#### Consortium networks\n\nThe consensus process is controlled by a pre-defined set of nodes that are trusted. For example, a private network of known academic institutions that each govern a single node, and blocks are validated by a threshold of signatories within the network. If a public Ethereum network is like the public internet, a consortium network is like a private internet.[[19]](#cite-id-ccnjs3n5tdc)​\n\n### Token Standards\n\n#### ERC-20 (Fungible Tokens)\n\nThe [ERC-20](https://iq.wiki/wiki/erc-20) introduces a standard for fungible tokens, in other words, they have a property that makes each token exactly the same in type and value as another token. For example, an [ERC-20](https://iq.wiki/wiki/erc-20) token acts just like the ETH, meaning that 1 token is and will always be equal to all the other tokens.[[22]](#cite-id-9q9c947d8p5)​\n\nThe ERC-20 (Ethereum Request for Comments 20), proposed by Fabian Vogelsteller in November 2015, is a token standard that implements an API for tokens within [smart contracts](https://iq.wiki/wiki/smart-contract).\n\n​[ERC-20 ](https://iq.wiki/wiki/erc-20)functionalities include transferring tokens from one account to another, getting the current token balance of an account, getting the total supply of the token available on the network, and approving whether an amount of token from an account can be spent by a third-party account.[[22]](#cite-id-9q9c947d8p5)​\n\n$$widget0 [YOUTUBE@VID](cqZhNzZoMh8)$$\n\n### ERC-721 (Non-Fungible Tokens)\n\nThe ERC-721 introduces a standard for [NFT](https://iq.wiki/wiki/non-fungible-token-nft) (Non-Fungible Token). This type of token is unique and can have a different value than another token from the same [smart contract](https://iq.wiki/wiki/smart-contract), due to its age, rarity, visual characteristics, or any other features.\n\nThe ERC-721 (Ethereum Request for Comments 721) was proposed by William Entriken, Dieter Shirley, Jacob Evans, and Nastassia Sachs in January 2018.\n\nIt provides functionalities like transferring tokens from one account to another, getting the current token balance of an account, getting the owner of a specific token, and also the total supply of the token available on the network.\n\nBesides these, it also has some other functionalities like approving that an amount of token from an account can be moved by a third party account.[[23]](#cite-id-is7bc0ujvs)​\n\n## Oracles\n\nOracles are data feeds that connect Ethereum to off-chain, real-world information so that a user can query data in their [smart contracts](https://iq.wiki/wiki/smart-contract). This could be anything from price information to weather reports. Oracles can also be bi-directional, used to \"send\" data out to the real world.\n\nAn oracle is typically made up of a smart contract and some off-chain components that can query APIs, then periodically send transactions to update the smart contract's data.[[24]](#cite-id-2eeu9qnxq2v)​\n\n$$widget0 [YOUTUBE@VID](6e7DmuYmXKw)$$\n\n### Ethereum Governance\n\n#### Stakeholders\n\nThere are various stakeholders in the Ethereum community, each playing a role in the governance process. They include:\n- **Ether holders**: these people hold an arbitrary amount of ETH.\n- **Application Users**: these people interact with applications on the Ethereum [blockchain](https://iq.wiki/wiki/blockchain).\n- **Application/Tooling Developers**: these people write applications that are run on the Ethereum blockchain (e.g. DeFi, NFTs, etc.) or build tooling to interact with Ethereum (e.g. wallets, test suites, etc.).\n- **Node Operators**: these people run nodes that propagate blocks and transactions, rejecting any invalid transaction or block that they come across.\n- **EIP Authors**: these people propose changes to the Ethereum protocol, in the form of Ethereum Improvement Proposals (EIPs). Ethereum Improvement Proposals are standards specifying potential new features or processes for Ethereum.\n- **Miners/Validators**: these people run nodes that can add new blocks to the Ethereum [blockchain](https://iq.wiki/wiki/blockchain).\n- **Protocol Developers**: these people maintain the various Ethereum implementations (e.g. go-ethereum, Nethermind, Besu, Erigon at the execution layer or Prysm, Lighthouse, [Nimbus](https://iq.wiki/wiki/nimbus), Teku, Lodestar at the consensus layer).\n\n#### Process for Introducing Changes\n\nThe formal process for introducing changes to the Ethereum protocol is as follows:\n1. **Proposing a Core EIP**: the first step to formally proposing a change to Ethereum is to detail it in a Core EIP. This will act as the official specification for an EIP that Protocol Developers will implement if accepted.\n2. **Presenting the EIP to Protocol Developers**: once one has a Core EIP for which they've gathered community input, they should present it to Protocol Developers.\n3. **Iteration towards a final proposal:** after receiving feedback from all relevant stakeholders, one will likely need to make changes to the initial proposal to improve its security or better meet the needs of various users. Once the EIP has incorporated all the changes that are necessary, one will need to present it again to Protocol Developers. One will then move to the next step of this process, or new concerns will emerge, requiring another round of iterations on the proposal.\n4. **EIP Inclusion in Network Upgrade**: assuming the EIP is approved, tested, and implemented, it gets scheduled as part of a network upgrade. Given the high coordination costs of network upgrades (everyone needs to upgrade simultaneously), EIPs are generally bundled together in upgrades.\n5. **Network Upgrade Activation**: after the network upgrade is activated, the EIP will be live on the Ethereum network. Network upgrades are usually activated on testnets before being activated on the Ethereum [Mainnet](https://iq.wiki/wiki/mainnet).[[13]](#cite-id-a7f8x1tww57)\n\n### Ethereum Timeline\n\nA timeline of all the major milestones, forks, and updates to the Ethereum [blockchain](https://iq.wiki/wiki/blockchain).\n\n**2013**\n- November 27, 2013 - [Whitepaper](https://iq.wiki/wiki/white-paper) released\n\n**2014**\n- April 1, 2014 - Yellowpaper released\n- July 22 - September 02, 2014 - Ether sale\n\n**2015**\n- July 30, 2015 - [Frontier](https://iq.wiki/wiki/frontier) release\n- September 7, 2015 - [Frontier](https://iq.wiki/wiki/frontier) thawing\n\n**2016**\n- March 14, 2016 - Homestead fork\n- July 20, 2016 - [DAO](https://iq.wiki/wiki/dao) fork\n- October 18, 2016 - Tangerine Whistle fork\n- November 22, 2016 - Spurious Dragon fork\n\n**2017**\n- October 16, 2017 - Byzantium fork\n\n**2019**\n- February 28, 2019 - Constantinople fork\n- December 8, 2019 - Istanbul fork\n\n**2020**\n- January 2, 2020 - Muir Glacier fork\n- October 14, 2020 - [Staking](https://iq.wiki/wiki/staking) deposit contract deployed\n- December 1, 2020 - Beacon Chain genesis\n\n**2021**\n- April 15, 2021 - Berlin upgrade\n- August 5, 2021 - London upgrade\n- October 27, 2021 - Altair upgrade\n- December 9, 2021 - Arrow Glacier network upgrade\n\n**2022**\n- June 30, 2022 - Gray Glacier network upgrade\n- September 6, 2022 - Bellatrix upgrade\n- September 15 - The Merge[ [16]](#cite-id-bdhp3v6x7s)\n\n**2024**\n- March 13, 2024 - '[Dencun Upgrade](https://iq.wiki/wiki/dencun-upgrade)\"\n\n**2025**\n- May 7, 2025 - Pectra upgrade\n- December 3, 2025 - Fusaka upgrade [[46]](#cite-id-2wq0oxfI712oMItF)\n\n### Developments\n\n#### Privacy Pools Launch\n\nA new privacy tool named [Privacy Pools](https://iq.wiki/wiki/privacy-pools) launched on the ethereum blockchain in March 2025, aimed at enabling users to conduct transactions anonymously while demonstrating that their funds are not associated with illicit activities.\n\nDeveloped by the team at 0xbow.io, the platform allows semi-permissionless access, with initial deposits capped at one Ether.\n\nEthereum co-founder [Vitalik Buterin](https://iq.wiki/wiki/vitalik-buterin) was among the first to engage with the platform, reportedly making a deposit shortly after its launch on March 31, 2025. The initiative employs a feature known as “Association Sets,” which aggregates transactions into anonymous pools. This mechanism includes screening processes to filter out transactions linked to illegal actors, such as hackers and scammers. [[40]](#cite-id-2rjnDcsBd0)​\n\n0xbow.io stated that these Association Sets are dynamic, allowing the removal of deposits identified as illicit without affecting other contributions. Users whose deposits are disqualified can utilize a \"ragequit\" function to retrieve their funds. [[40]](#cite-id-2rjnDcsBd0)​\n\n#### Solving the Blockchain Trilemma\n\nOn January 3, 2026, Ethereum co-founder [Vitalik Buterin](https://iq.wiki/wiki/vitalik-buterin) claimed that Ethereum had developed the technical components to solve the [Blockchain](https://iq.wiki/wiki/blockchain) Trilemma—the long-standing challenge of simultaneously achieving decentralization, security, and scalability. In a post on the social media platform X, Buterin stated that the solution was \"not on paper, but with live running code.\"[[47]](#cite-id-vHp4wYEXgwKuwGJa)​[[48]](#cite-id-TUGsPpWqSfHjObh2)​\n\nThe solution hinges on the integration of two key technologies:\n- **Peer Data Availability Sampling (PeerDAS):** Introduced as part of the Fusaka upgrade in December 2025, PeerDAS is a scalability method that enables the network to handle significantly larger amounts of data by allowing nodes to verify data availability without downloading entire blocks.\n- **Zero-Knowledge EVMs (ZK-EVMs):** These are virtual machines compatible with the EVM that use zero-knowledge proofs to validate blocks and transactions with high efficiency. Buterin noted that while ZK-EVMs have achieved \"production-quality on performance,\" their security still requires further hardening.\n\n​[Buterin](https://iq.wiki/wiki/vitalik-buterin) asserted that the combination \"turns Ethereum into a completely new and much more powerful decentralized network.\" He clarified the status of the components, stating, \n\n> \"The trilemma has been solved... one half (data availability sampling) is on mainnet today, and the other half (ZK-EVMs) is production-quality on performance today — safety is what remains.” \n\nWhile the core technologies are functional, he outlined a multi-year roadmap, projecting that ZK-EVMs would become the primary method for block validation between 2027 and 2030. The long-term vision includes a \"distributed block building\" system to further decentralize the network and enhance censorship resistance.[[47]](#cite-id-vHp4wYEXgwKuwGJa)​[[48]](#cite-id-TUGsPpWqSfHjObh2)​","summary":"Ethereum is a decentralized, open-source blockchain enabling smart contracts, NFTs, and various applications, powered by its native token Ether (ETH).","images":[{"id":"QmZWWgDrLm3iaxjyaeevrXxXasB4wRYDDJJpko6gPCMEvG","type":"image/jpeg, 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