Definition
Ethereum is a decentralized blockchain that supports smart contracts.
And it is more general purpose can not only like Bitcoin supports the transfer of the Bitcoin token around the network.
Developers can build dApps, or decentralized applications by programming language(Solidity) and can be executed on the Ethereum network on the Ethereum Virtual Machine (EVM).
Consensus algorithm
Proof of Work → Proof of Stake(PoS).
Ether
For paying transaction fees
Smart Contracts
Smart contracts are small computer programs that are replicated and processed on all the computers on the Ethereum network without a central coordinator.
ERC20 Tokens
We can create and use their own currencies on Ethereum in addition to Ether,. Most common currency is ERC20 tokens and it needs to meet the minimum requirements.
- easily support all types of token
ERC721 and ERC1155 Tokens
A base line for what requirements should be met when creating NFTs.
- compatible
block time & block size, within a network to verify transactions within one block and produce a new block in that blockchain
.