FAQs - Ethereum (ETH)

Frequently asked questions about Ethereum
Written by StakeSeeker
Updated 1 year ago

What is Ethereum?

A: Ethereum is a decentralized, open-source blockchain platform that enables the creation and execution of smart contracts and decentralized applications (dApps).

Who created Ethereum?

A: Ethereum was created by Vitalik Buterin in 2015, along with a team of developers.

Does BTCS Inc. operate Ethereum validators?

Yes, BTCS inc. actively stakes and validates on the Ethereum network.

Does StakeSeeker offer Ethereum staking?

No, StakeSeeker DOES NOT support Ethereum staking. Ethereum is a Proof-of-Stake blockchain and StakeSeeker currently only supports non-custodial delegated staking.

How does Ethereum differ from Bitcoin?

A: While both Bitcoin and Ethereum are blockchain-based platforms, Bitcoin was designed primarily as a digital currency, whereas Ethereum was designed as a platform for creating and executing smart contracts and dApps.

What are smart contracts?

A: Smart contracts are self-executing programs that are stored on the blockchain and can automatically execute the terms of a contract when certain conditions are met.

What are some use cases for Ethereum?

A: Ethereum can be used for a wide range of applications, including decentralized finance (DeFi) platforms, gaming platforms, social networks, and more.

What is Ether?

A: Ether is the native cryptocurrency of the Ethereum network. It is used to pay for transaction fees and can also be utilized in various decentralized applications.

How is Ethereum secured?

A: Ethereum is secured through a consensus mechanism known as Proof of Stake (PoS), which relies on validators to verify transactions and maintain the integrity of the blockchain.

What is the Ethereum Virtual Machine (EVM)?

A: The Ethereum Virtual Machine is a runtime environment that enables the execution of smart contracts on the Ethereum network.

Related articles you may be interested in: 

If you still have a specific question about blockchains or staking, please start a conversation with our support team! 

Did this answer your question?