# Ethereum

By [Harshit singh sisodiya ](https://paragraph.com/@harshit-singh-sisodiya) · 2023-03-26

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Market Cap: $190 Billion

Ethereum is an open-source decentralized blockchain with smart contract functionality. Ethereum is the second largest cryptocurrency which holds a very strong and dominant position in the crypto market after Bitcoin. Ethereum operates on its blockchain and supports smart contracts which run on its own blockchain and are executed automatically when certain conditions are met. Ether is the cryptocurrency which runs on the Ethereum blockchain.

ETH, launched in 2015, currently trading around at the levels of $1,500 as of January 2023.

Interesting Fact: In 2022, Ethereum switched to proof-of-stake from proof-of-work model, which is considered as one of the biggest transitions in the crypto world. It is significant as it marked a massive reduction on the front of the energy footprint.

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*Originally published on [Harshit singh sisodiya ](https://paragraph.com/@harshit-singh-sisodiya/ethereum)*