icon for Ethereum Ethereum - Background Information

Ethereum was created as a decentralized suite of financial products that anyone in the world can have free access to, regardless of nationality, ethnicity, or faith. As a result, ethereum can evade authorities and detection. In 2021 Ethereum plans to change its consensus algorithm from proof-of-work to proof-of-stake. This move will allow Ethereum's network to run itself with far less energy as well as improved transaction speed. Proof-of-stake allows network participants to “stake” their ether to the network. This process helps to secure the network and process the transactions that occur. Those who do this are rewarded ether similar to an interest account. This is an alternative to Bitcoin’s proof-of-work mechanism where miners are rewarded more Bitcoin for processing transactions.

Who is behind this? Vitalik Buterin

Ethereum Whitepaper (https://ethereum.org/en/whitepaper/)