ETH

Ethereum (ETH) Token Overview
Ethereum (ETH) is a decentralized, open-source blockchain system that features smart contract functionality. Ether (ETH) is the native cryptocurrency of the Ethereum platform and is the second-largest cryptocurrency by market capitalization, following Bitcoin.

History and Development
Creation and Launch:

Ethereum was proposed in late 2013 by programmer Vitalik Buterin, with development crowdfunded in 2014, and the network went live on July 30, 2015​ (Cryptonews)​​ (Cryptonews)​.
Ethereum’s initial purpose was to expand upon the concept of Bitcoin, creating a blockchain capable of supporting not just digital currency but decentralized applications (DApps) through smart contracts.
Smart Contracts:

A smart contract is a self-executing contract with the terms directly written into code, which automatically enforces and executes the terms of an agreement when certain conditions are met​ (Cryptonews)​.
These contracts are stored and replicated on the Ethereum blockchain, allowing for secure and transparent transactions without the need for intermediaries.
ERC-20 Tokens:

Ethereum’s blockchain supports the ERC-20 standard, which defines a common list of rules for Ethereum tokens, enabling developers to create interoperable tokens within the ecosystem. This standard has led to the creation of many other tokens and Initial Coin Offerings (ICOs) on the Ethereum network​ (Cryptonews)​​ (BeInCrypto)​.
Key Features
Decentralized Finance (DeFi):

Ethereum has become the backbone of the DeFi movement, which aims to recreate traditional financial systems, such as loans and insurance, using blockchain technology​ (Cryptonews)​.
Platforms like Uniswap (DEX), Aave (lending), and MakerDAO (stablecoins) operate on Ethereum, providing decentralized financial services.
Ethereum 2.0 (Eth2):

Ethereum 2.0 is a set of interconnected upgrades intended to make Ethereum more scalable, secure, and sustainable​ (Cryptonews)​​ (BeInCrypto)​.
Key features include transitioning from a proof-of-work (PoW) consensus mechanism to a proof-of-stake (PoS) model, which is expected to reduce energy consumption and increase transaction throughput.
Non-Fungible Tokens (NFTs):

Ethereum is also the primary blockchain for NFTs, unique digital assets representing ownership of specific items, such as art, music, and in-game assets. The ERC-721 standard underpins most NFTs, enabling unique, indivisible tokens​ (Cryptonews)​.
Recent Developments
London Hard Fork and EIP-1559:

The London Hard Fork, implemented in August 2021, included EIP-1559, which changed the fee structure of Ethereum transactions. This upgrade aims to make transaction fees more predictable and introduce a mechanism to burn a portion of the transaction fees, potentially reducing the supply of ETH over time​ (BeInCrypto)​.
Layer 2 Solutions:

To address scalability issues, several Layer 2 solutions like Optimistic Rollups and zk-Rollups have been developed, allowing for faster and cheaper transactions by processing them off the main Ethereum chain and then batching them back onto it​ (Cryptonews)​.
Community and Ecosystem
Developer Community:

Ethereum has one of the largest and most active developer communities in the blockchain space. Regular hackathons, meetups, and conferences (like Devcon) foster innovation and collaboration​ (Cryptonews)​.
Governance and Upgrades:

Ethereum employs a decentralized governance model where changes to the protocol are proposed and discussed through Ethereum Improvement Proposals (EIPs). These proposals are reviewed and agreed upon by the community and developers before being implemented​ (Cryptonews)​.
Conclusion
Ethereum continues to be a leading platform for blockchain innovation, driving the growth of decentralized applications, financial services, and digital assets. Its ongoing upgrades and active community engagement position it as a foundational element of the decentralized web.