Ethereum Mainnet

What is Ethereum Mainnet?

The Ethereum mainnet is the primary public blockchain network for the Ethereum cryptocurrency. It is a decentralized platform that allows developers to build decentralized applications and smart contracts on top of the Ethereum network.

The Ethereum mainnet has been operational since 2015, and it has undergone several upgrades and improvements over the years to enhance its security, scalability, and functionality. One significant update was the transition from the original proof-of-work (PoW) consensus algorithm to a proof-of-stake (PoS) algorithm, which is aimed at reducing energy consumption and improving transaction speed and efficiency.

The most recent major upgrade to the Ethereum mainnet was the London hard fork, which was implemented in August 2021. This upgrade introduced several changes to the Ethereum network, including the EIP-1559 transaction fee reform that aimed to improve the user experience by making transaction fees more predictable and reducing network congestion.