A transformative development in blockchain came with the launch of Ethereum in 2015. Ethereum extended the capabilities of blockchain beyond simple transactions by introducing smart contracts — self-executing pieces of code that run on the blockchain. These contracts can define rules, enforce agreements, and automate processes without human intervention. For example, a smart contract could be used to create a decentralized crowdfunding campaign where funds are only released if certain conditions are met. Smart contracts opened the door to Decentralized Applications (dApps) — apps that run on a blockchain instead of centralized servers. This innovation significantly broadened the scope of blockchain technology and led to the emergence of entire decentralized ecosystems. Scalability, however, remains a challenge for many blockchains. Early blockchains like Bitcoin and Ethereum suffer from limited transaction throughput — processing only a handful of transactions per second comp...
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