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Test yourself on Ethereum with AI-generated multiple-choice questions, answers, and explanations.
The 21,000 gas limit was established as the base fee for a standard ETH transfer after Ethereum's Istanbul hard fork in December 2019, representing the minimum amount required to process a simple transaction without additional contract interactions.
Ethereum's decision to have no maximum supply allows for inflation control through the issuance of new ETH over time, with the annual issuance rate estimated around 4.5% before the transition to proof of stake. This approach differs from many cryptocurrencies that impose fixed supply caps, emphasizing Ethereum's focus on network security and functionality over scarcity.
The EVM enables developers to create and deploy decentralized applications that run exactly as programmed across the Ethereum network, ensuring transparency and security without relying on a single centralized authority. Its design allows for the execution of code in a deterministic manner, meaning the same smart contract will yield identical outcomes on all nodes.
Because Ethereum was proposed in a white paper by Vitalik Buterin in late 2013 and its development began shortly thereafter, leading to its official launch and introduction in July 2015.
Because it is the non-profit organization dedicated to supporting the Ethereum blockchain and its ecosystem through funding, development, and community initiatives.
Ethereum's mainnet officially went live on July 30, 2015, following a public crowdsale that began in July 2014, which helped fund its development and aimed to create a decentralized platform for smart contracts.
The EVM was introduced with Ethereum's launch in 2015 and has become a foundational component that enables the execution of smart contracts in a decentralized manner across the Ethereum network.