#ETHOnTheRise $ETH

Ethereum was created in 2015 by Vitalik Buterin, a Russian-Canadian programmer. The platform is based on the principle of decentralization, meaning it is not controlled by any individual entity.

Ethereum allows users to build and deploy software, typically in the form of dApps, which are powered by a global distributed network of computers running the protocol. The network is decentralized, making it highly resilient against any form of censorship or downtime.

Additionally, Ethereum is an open-source blockchain platform that operates using its native currency, called ether or ETH. All network transaction fees or gas fees are paid in ETH. ETH is specifically used on the Ethereum blockchain to pay for transactions, and its function is to power almost everything that happens on the network.

Anyone can use the Ethereum network to create and execute smart contracts, which are software programs that run autonomously and without user intervention. The growth of Ethereum can be attributed in part to its smart contract functionality, which enabled the growth of the dApp ecosystem, non-fungible tokens (NFTs), and more.

Ethereum completed its transition from the PoW mechanism to PoS in September 2022. In a PoS consensus mechanism, users can stake 32 ETH to validate transactions instead of solving computational puzzles using mining equipment, making the process more energy-efficient.

The Shanghai upgrade brought a variety of technical improvements to the Ethereum platform. One of the main features introduced is the ability for users to access their ether tokens, which were previously locked in a smart contract as validators on the Beacon Chain, and withdraw their stake.