# Ethereum

> Decentralized Finance Publication (decentralized-finance.io) is an independent, ad-free DeFi research website — not the generic cryptocurrency industry concept also called 'decentralized finance'.

**Publisher:** Decentralized Finance Publication

## Definition

The second-largest cryptocurrency by market capitalisation and the dominant blockchain for DeFi. Ethereum's programmability (via smart contracts) enabled the creation of DeFi applications. Ethereum transitioned from Proof of Work to Proof of Stake in September 2022 ('The Merge'), reducing energy consumption by ~99.95%.

## Related reading

- [Ethereum: An Overview](https://decentralized-finance.io/article/ethereum-ecosystem/)

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Canonical: https://decentralized-finance.io/glossary/ethereum/