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Layer 1

Ethereum

The programmable settlement layer that most of crypto is built on top of.

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By the Orca Crypto teamUpdated 2026-09-28How we check this5 min readReference
The short answer

The programmable settlement layer that most of crypto is built on top of. Ethereum turned a ledger into a computer. Anyone can deploy code that runs exactly as written, which is where stablecoins, lending, exchanges and NFTs all came from.

Live market data

LiveCoinGecko
Price
$2,665.93
+0.53% 24h
Market cap
$325.48B
24h volume
$15.91B
Rank
#2
All time high
$4,946.05

Prices as of September 29, 2026, replaced by live figures as the page loads. Prices move constantly and are for orientation only.

What Ethereum is for

Ethereum turned a ledger into a computer. Anyone can deploy code that runs exactly as written, which is where stablecoins, lending, exchanges and NFTs all came from.

Technical summary

PropertyValue
LayerLayer 1
Launched2015
ConsensusProof of stake
ThroughputAbout 15 on layer 1
FinalityAbout 13 minutes
Native tokenETH pays gas and is staked to secure the network

Block explorers

An explorer lets you verify any transaction, address or contract on this network yourself. Learning to read one is the fastest way to stop taking anyone's word for anything.

EtherscanBlockscout

How to read a block explorer

Wallets that support it

MetaMaskRabbyCoinbase WalletLedger

What to be aware of

  • Validator concentration varies widely between layer 1s and is worth checking rather than assuming.
  • Newer chains have shorter track records under real adversarial pressure.
  • Crypto assets are volatile. Drawdowns of seventy percent or more have happened on every network in this list, including the largest.
  • Sending to an address on the wrong network can lose funds permanently. Always send a small test amount first.

Nothing on this page is investment advice. We describe how networks work, not whether you should buy anything.

Other networks at this layer

Same job, different tradeoffs. Each of these has its own page covering what it is actually for, who runs it and where it struggles.

SolanaBNB ChainXRP LedgerCardanoAvalancheTRONAll of them

Common questions

Why are Ethereum fees still high?
Layer 1 block space is scarce and priced by auction, so a busy hour costs everyone more. Most activity has moved to layer 2 networks that settle back to Ethereum, where the same transaction costs a fraction of a cent.
Is Ethereum still mined?
No. Ethereum switched from proof of work to proof of stake in September 2022, an upgrade called the Merge. Mining ended that day and validators securing the network with staked ether replaced it.

Where to go next

Compare all networksHow the layers fit together.Block explorer directoryEvery chain, every explorer.Wallets by chainThe right wallet for this network.Mining and stakingHow blocks actually get made and who gets paid.

Compared head to head

The question people actually ask is not "what is this" but "this one or that one". Each of these ends with a pick and the reasoning behind it.

Bitcoin vs EthereumEthereum vs SolanaAll comparisons

New to Ethereum?

We can get you set up with the right wallet, funded, and through a first transaction on this network in about an hour, on a screen share.

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