2026-01-11 09:26:46

Understanding Ethereum: The Basics

Ever wondered what makes Ethereum different from Bitcoin? Or why it's become such a cornerstone in the crypto ecosystem? Let's break down the fundamentals of Ethereum and explore why it matters in Web3.

Ethernet isn't just another blockchain—it's a platform that fundamentally changed how we think about decentralized applications and smart contracts. From DeFi protocols to NFTs, from staking mechanisms to token ecosystems, Ethereum powers a massive portion of the crypto economy.

In this exploration, we'll cover the core concepts you need to understand this revolutionary platform, its technological foundation, and why it continues to shape the future of blockchain technology.

ETH7,48%

BTC4,58%

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

16 Likes

Reward
16
6
Repost
Share

Comment

0/400

AirdropHunterWang

· 01-12 07:47

ETH is the eternal god, but the current gas fees are really outrageous... But anyway, I still have to hold.

View OriginalReply0

SchrödingersNode

· 01-11 09:54

To be honest, Ethereum is just an upgraded version of Bitcoin. Smart contracts have changed everything. ETH is truly the backbone of Web3. Without it, DeFi would have already failed. Talking about fundamentals again? Quickly discuss the issues after the merge—that's the real focus. Gas fees are still so high; good foundational knowledge alone won't help. Ethereum's ecosystem is so large that newcomers really need to understand it thoroughly. Has the staking mechanism been explained clearly? That's what I want to know most. It's just smart contracts, I'm tired of hearing about it. When will there be talks on Layer 2 optimizations? After watching, I still don't understand why NFTs are built on Ethereum. What does the future of ETH really look like? Don't just talk about history. Honestly, I’m not optimistic about Bitcoin. Ethereum is the real future.

View OriginalReply0

LightningSentry

· 01-11 09:54

Ethereum is the foundational platform for Web3. Without it, DeFi and NFTs can't really function. This is beyond doubt. --- Smart contracts have truly changed the game. The logic of Bitcoin was long overdue for an upgrade. --- Every time the difference between Ethereum and Bitcoin is discussed, the core is really about what can and cannot be done. --- The staking mechanism definitely brings both token holders and miners into the ecosystem, making it more vibrant and dynamic. --- It sounds good, but it still depends on actual use cases; otherwise, it's just theoretical talk. --- Web3 would have been dead without Ethereum. This is a fact. --- A bunch of DeFi protocols are built on Ethereum, and the scope is just like that. --- Anyway, Ethereum is the most mature right now. Other chains find it hard to catch up.

View OriginalReply0

PessimisticOracle

· 01-11 09:49

Smart contracts are essentially Ethereum's core competitiveness; Bitcoin can't do this.

View OriginalReply0

TestnetNomad

· 01-11 09:44

Ethereum is the biggest bet after Bitcoin, and smart contracts really changed everything... However, the gas fees are extremely high right now, and the user experience is still quite challenging.

View OriginalReply0

PanicSeller

· 01-11 09:39

Ethereum is still the same, essentially smart contracts make it fundamentally different from BTC. Honestly, everything that can run on Web3 right now relies on it.

View OriginalReply0