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What is Ethereum?

Ethereum is a decentralized blockchain platform created in 2015 that enables the development of smart contracts and decentralized applications (dApps). Ether (ETH) is Ethereum’s native cryptocurrency and serves as the fuel for executing transactions and smart contracts. Ethereum’s architecture allows for the creation of tokens using a set of standardized protocols called ERC-20, and the platform introduced decentralized autonomous organizations (DAOs) that operate using smart contracts. However, Ethereum has faced scalability issues leading to high fees and slow transaction times. Ethereum 2.0 aims to address these issues and make the platform more efficient, secure, and sustainable.

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