Ethereum

Jonas Valbjørn Andersen

Chapter 19 in Elgar Encyclopedia of Cryptocurrencies, Blockchain and DLT, 2026, pp 101-104 from Edward Elgar Publishing

Abstract: Ethereum is a blockchain-based platform designed to support decentralized applications (dApps) through smart contracts. Proposed by Vitalik Buterin in 2013 and launched in 2015, Ethereum introduced programmability to blockchain via the Ethereum Virtual Machine (EVM). It supports both fungible (ERC-20) and non-fungible tokens (ERC-721), enabling innovation across finance, supply chains, and digital ownership. Initially using a proof-of-work consensus mechanism, Ethereum transitioned to proof-of-stake to improve scalability and sustainability. Despite challenges relating to scalability and regulation, Ethereum remains foundational to decentralized finance (DeFi) and continues to evolve with innovations like Layer 2 scaling and Ethereum 2.0 upgrades.

Keywords: Ethereum; Smart contracts; Decentralized applications; dApps; Ethereum Virtual Machine; EVM; Decentralized finance; DeFi; Proof-of-Stake Stake; PoS (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035339952
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