From Proof of Work to Proof of Stake: Ethereum's Evolution
Pooja_Ultimez
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Pooja_Ultimez
Ongoing, First published Nov 12, 2024
cryptocurrencyetherethereumwhatisethereum
What is Ethereum? Ethereum is a decentralized blockchain platform that enables developers to build and deploy smart contracts and decentralized applications (dApps). Since its launch in 2015, Ethereum has stood out not only because of its blockchain technology but because of its unique potential to create applications that are both secure and transparent. Ethereum is also the platform behind Ether (ETH), the second-largest cryptocurrency by market capitalization after Bitcoin. However, what makes Ethereum truly revolutionary is its recent shift from a Proof of Work (PoW) to a Proof of Stake (PoS) consensus mechanism.
In this article, we'll explore what this transition means for [what is Ethereum](https://coinpedia.org/beginners-guide/what-is-ethereum-the-comprehensive-guide/), how it differs from Bitcoin's mining process, and the long-term implications for the platform and its users.
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