How Ethereum Works
60-second summary
Ethereum tracks and updates state by recording each account’s balance, nonce and storage in a global world‑state tree, while transactions flow through miners or validators who execute bytecode, charge gas priced in ETH, and update the state root; smart contracts and token standards like ERC‑20 enable programmability, and competing Layer‑1s adopt varied consensus and data‑availability designs, shaping broader blockchain scalability…
The focus is how Ethereum works under the hood: how it tracks and updates state, how transactions flow through the network, how computation is priced through gas, how smart contracts and token standards make Ethereum programmable, and how other Layer 1 blockchains approach the same problems in different ways.