What it means
What the network does
Ethereum maintains shared state, including accounts and deployed programs. Transactions request state changes, such as transferring ETH or invoking a contract. The Ethereum Virtual Machine defines how contract code executes.
ETH and tokens
ETH is the native asset; a token deployed by a contract is a different asset. A transfer must identify the chain and, for a token, the correct contract. Networks that use compatible software or similar addresses are not automatically the same Ethereum network.
Related concepts
Smart contract, Gas fee, Transaction finality, Cryptocurrency wallet.
In practice
A concrete example
An invoice requesting a particular token on Ethereum is not satisfied merely because an identically named token arrives on another chain.
Technical notes & boundaries
Ethereum uses proof of stake. Inclusion, finality, token transfer success and provider payout remain distinct events.
Go to the source.
Original references used for this definition. Product details and standards can change.
