What is Ethereum?

On Conio it is possible to buy and sell Ether (the native currency of the Ethereum blockchain), however, it is not yet possible to withdraw and deposit Ether. On the other hand, you can use the "Convert" function to convert Ether to another asset from among those in the Conio marketplace.


Ethereum (ETH) represents one of the most ambitious projects that has emerged since Bitcoin and seeks to leverage the properties of the first cryptocurrency (Bitcoin) to offer use cases beyond money transfer. If Bitcoin can be considered digital gold, Ethereum aims for a different approach, attempting to create a platform where users can run programs, called smart contracts, and create tokens that can be exchanged across the network.

These smart contracts can support the creation of decentralized applications, which are used in a variety of sectors and aim to transform the way users use services on the web. Ethereum is an open source project, overseen by a foundation, the Ethereum Foundation.


Developers interested in taking advantage of the Ethereum network write programs called smart contracts and distribute the code to the network so that it is placed on the Ethereum Blockchain. All nodes in the network have a copy of a compiler that translates smart contracts into actions to be executed on the Blockchain with transactions, called the Ethereum Virtual Machine (EVM).

With the historic event called "Merge," Ethereum has changed its consensus algorithm, migrating from the original Proof-of-Work system (like Bitcoin) to a system called proof-of-stake (PoS) , in which the miners will be "replaced" by some nodes in the network that will make their Ether available to validate transactions and build new blocks of the Blockchain.


Ethereum's monetary policy does not include limits on Ether issuance, so it is not a considered a deflationary system like Bitcoin. However, there is a coin "burn" mechanism, which is the destruction of coins used as transaction fees by users, which will reduce the rate at which new Ether is issued.

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