Ethereum is a blockchain protocol and cryptoasset that extends the bitcoin model to allow the execution of smart contracts.

NB: following common usage we are using Ethereum for both the protocol itself, its mainnet and its associated token Ether or ETH.


Ethereum is based on the consensus algorithm known as Proof of Stake (having shifted from Proof of Work in late 2022)

Ethereum is not a currency. Ethereum is a protocol and Ether is a protocol token and not a currency.

Ethereum is deflationary.

Ethereum is a bearer instrument.

Ethereum has no fundamental value.

Ethereum has no use value (like most financial assets).

Ethereum has no income-cashflows.

Ethereum has a present-value of zero.

Ethereum has a market-value derived from a combination of speculation and use for transactions on the network.

Ethereum has a terminal-value of zero.

Ethereum is a non-productive investment.

Ethereum has a negative expected return.

Ethereum is a security.


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