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Editorial reference

Ethereum ETH

Fresh · updated in last 10 min
Source · diadata · Sat, 01 Aug 2026 13:59:59 GMT
Price (USD)
$1,868
+0.17% 24h
24h volume
$1.19B

Overview

Ethereum is a programmable settlement network launched in July 2015. Its virtual machine executes smart contracts, and ETH is the native asset used to pay for computation and to secure the network through staking. It is the largest smart-contract platform by value settled and by developer activity.

Origin & history

Vitalik Buterin published the Ethereum white paper in late 2013. A public crowdsale in 2014 funded development, and the network went live with the Frontier release on 30 July 2015. Protocol changes are coordinated through the Ethereum Improvement Proposal (EIP) process and multi-client testing.

Founders & governance

Co-founders include Vitalik Buterin, Gavin Wood, Charles Hoskinson, Anthony Di Iorio, Joseph Lubin and others. The Ethereum Foundation funds research and client work but does not control the protocol; multiple independent client teams maintain implementations.

How it works

Ethereum uses proof-of-stake consensus (Gasper) since The Merge in September 2022. Validators stake 32 ETH to propose and attest blocks; transactions are executed by the Ethereum Virtual Machine and fees follow the EIP-1559 base-fee model, which burns the base fee. Rollups settle compressed transaction data back to Ethereum for security.

Tokenomics & supply

ETH has no fixed maximum supply. Issuance is paid to validators and scales with total stake, while EIP-1559 burns the base fee of every transaction, so net supply change can be positive or negative depending on network demand. Staking withdrawals have been enabled since the Shanghai/Capella upgrade in April 2023.

Utility & use cases

ETH pays for computation and blob/data space, serves as collateral across decentralized finance, and is staked to secure the chain. Ethereum also underpins stablecoin settlement, tokenized assets and the largest rollup ecosystem, and is available through U.S. spot ETH ETFs approved in 2024.

Ecosystem

Execution clients include Geth, Nethermind, Besu and Erigon; consensus clients include Prysm, Lighthouse, Teku, Nimbus and Lodestar. Layer-two networks such as Arbitrum, Optimism, Base, zkSync and Starknet post data to Ethereum, and staking is accessible solo, via pools, or via liquid staking protocols.

Wallets & custody

Custody spans self-custody wallets (hardware and smart-contract/account-abstraction wallets), staking services, and regulated custodians. Staked ETH carries slashing and liquidity considerations distinct from holding ETH directly.

Regulatory notes

Regulatory treatment varies by jurisdiction. U.S. regulators have permitted spot ETH exchange-traded products since 2024, and staking-as-a-service has drawn separate scrutiny; the EU MiCA framework covers service providers rather than the protocol. Nothing on this page is legal, tax, or investment advice.

Milestones

  1. 2013
    White paper
    Vitalik Buterin circulates the Ethereum white paper.
  2. 2015
    Mainnet launch
    The Frontier release goes live on 30 July.
  3. 2016
    The DAO and the fork
    A contract exploit leads to a contentious hard fork and the Ethereum Classic split.
  4. 2021
    EIP-1559
    The London upgrade introduces base-fee burning.
  5. 2022
    The Merge
    Ethereum transitions to proof of stake.
  6. 2023
    Staking withdrawals
    Shanghai/Capella enables validator withdrawals.
  7. 2024
    Dencun and spot ETFs
    Blob space lowers rollup costs; U.S. spot ETH ETFs begin trading.

FAQs

Does Ethereum have a supply cap?
No. Issuance rewards validators while EIP-1559 burns base fees, so net supply can rise or fall with network demand.
What changed at The Merge?
In September 2022 Ethereum replaced proof-of-work mining with proof-of-stake consensus, cutting energy use sharply without changing account balances.
What are layer twos?
Rollups execute transactions off-chain and post data back to Ethereum, inheriting its settlement guarantees at lower cost.
How much ETH is needed to stake?
32 ETH to run a validator directly; pooled and liquid staking services allow smaller amounts with added counterparty risk.

Official links

Primary sources

This page is editorial reference material. Nothing on this page is investment, legal, or tax advice. Last reviewed 8/1/2026.