Ethereum is the world's second-largest blockchain and allows the storage and transfer of data through the use of so-called smart contracts. Smart contracts are digital agreements with predefined conditions and rules used between two or more parties, eliminating the need for a third party to be involved. More comprehensive smart contracts are commonly referred to as decentralized applications (dApps). This means that Ethereum is used for more than just payments. Simply put, Ethereum can be described as an internet-based marketplace for financial services, dApps, and more. Ethereum transitioned to Proof of Stake (PoS) with the Ethereum 2.0 upgrade, moving away from the original Proof of Work (PoW) system to enhance scalability and reduce energy consumption.

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