Ethereum (ETH)

Launched on 30 July 2015, Ethereum expanded Bitcoin’s idea of peer‑to‑peer value transfer into a full “world computer.” Instead of embedding limited scripting in each payment, Ethereum introduced the Ethereum Virtual Machine (EVM). This runtime allows anyone to deploy self-executing smart contracts written in languages such as Solidity and Vyper. Its native currency, Ether (ETH), not only pays transaction (“gas”) fees but also secures the network through staking, since the 2022 Merge that transitioned Ethereum from proof-of-work to proof-of-stake.

Because contracts are programmable, Ethereum has become the backbone for everything from ERC-20 tokens and DeFi protocols to NFT marketplaces and on-chain games. Each interaction is settled on the identical canonical blockchain, maintaining composability; however, this popularity exposes a trade-off: the base layer can handle only about 15 transactions per second, so demand often pushes gas prices sharply higher.

Scalability now comes from a fast‑growing family of Layer 2 (“L2”) networks that batch or compress transactions and post succinct proofs back to Ethereum, inheriting its security while slashing fees. Rollups (Optimistic and ZK), Validiums, and side-chains already process far more daily transactions than the L1 itself, with Base and Arbitrum recently topping activity and revenue charts.

Read more about Ethereum in our full guide: https://blockspot.io/what-is-ethereum/.

Ethereum Layer 2 solutions

• Arbitrum
• Base
• Immutable X
• Linea
• Loopring
• Mantle
• Metis Andromeda
• Optimism (OP Mainnet)
• Polygon PoS & Polygon zkEVM
• Scroll
• Starknet
• zkSync Era