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@corwintines corwintines commented Sep 29, 2025

Creates new /what-is-ether page

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@github-actions github-actions bot added content 🖋️ This involves copy additions or edits tooling 🔧 Changes related to tooling of the project translation 🌍 This is related to our Translation Program labels Sep 29, 2025
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Thanks @corwintines! Left a few code-related comments... @konopkja also left a handful of content-related comments, but overall looking good 🚀

setRequestLocale(locale)

const t = await getTranslations({
locale,
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✂️

Comment on lines +37 to +44
const { locale } = await params

setRequestLocale(locale)

const t = await getTranslations({
locale,
namespace: "page-what-is-ether",
})
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Suggested change
const { locale } = await params
setRequestLocale(locale)
const t = await getTranslations({
locale,
namespace: "page-what-is-ether",
})
const { locale } = params
const t = await getTranslations({
namespace: "page-what-is-ether",
})


<Section
id={getId(tocItems[2].url)}
className="-scroll-mt-80 space-y-14"
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Is this scroll-margin-top class needed? ui/section already applies an appropriate scroll margin.

Suggested change
className="-scroll-mt-80 space-y-14"
className="space-y-14"

Comment on lines +405 to +409
<Section
id={getId(tocItems[3].url)}
className="-scroll-mt-80 space-y-14"
>
<div className="space-y-6">
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Just noting this nested div is a bit redundant since it's by itself inside Section... can just update to use space-y-6 and remove the nested div.. and similar to above, should be able to remove -scroll-mt-80 here (and throughout)

"page-what-is-ether-l2s-description-4": "L2 <strong>transfers can cost as little as $0.04</strong>, bringing Ethereum to millions more users through integrations with companies like Robinhood, PayPal, and Shopify.",
"page-what-is-ether-what-is-the-eth-supply": "What is the ETH supply?",
"page-what-is-ether-what-is-the-eth-supply-description-1": "Unlike Bitcoin's fixed 21 million cap, ETH has dynamic supply mechanics:",
"page-what-is-ether-what-is-the-eth-supply-description-2": "New ETH is issued to reward network validators",
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Would be nice to adjust wording to convey that this is rate-limited and based on amount of ETH staked.

Perhaps:

New ETH is issued to reward network validators at a limited rate calculated by the protocol

May be too much for here though

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sounds good to me

"page-what-is-ether-breakdown-description-3": "<strong>Smart contracts</strong>: Significant amounts in smart contracts including DeFi protocols",
"page-what-is-ether-breakdown-description-4": "<strong>Ethereum Foundation</strong>: Holds <ef>less than 0.3%</ef> of supply (down from 9% in 2014)",
"page-what-is-ether-who-holds-most": "Who holds the most?",
"page-what-is-ether-who-holds-most-description-1": "The largest address is the Beacon Deposit contract, representing millions of stakers rather than a single entity.",
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Hm, this is fuzzy... ETH in the deposit contract does not count to total supply... it's a one-way bridge... deposits are effectively burned, and the beacon chain mints an equivalent amount in exchange, designates it to a specific account, and takes over accounting for this ETH. This is not "owned" by the contract or any single entity, it's re-allocated amongst individual validator accounts.

That contract is up-only and could theoretically have unlimited ETH if folks continued to deposit to a validator, withdrawal it back to another account, and re-deposit it. Same ETH, but that contract will continue to inflate.

Would not cite this here.

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hmm @mnelsonBT if we wanted to change this small section "Who holds the most" , what would you do with it?

"page-what-is-ether-meta-description": "Ether (ETH) is Ethereum's native cryptocurrency. Learn what it's used for, how and where to buy it, how much of it there is and what affects its price.",
"page-what-is-ether-twitter-meta-description": "Ether (ETH) is Ethereum's native cryptocurrency. Learn what it's used for, how and where to buy it, how much of it there is and more.",
"page-what-is-ether-title": "What is Ether (ETH)?",
"page-what-is-ether-hero-description-1": "Ether (ETH) is the native cryptocurrency that powers the Ethereum network and every application built on top of it. It's used to pay transaction fees, secure the network through staking, and serves as digital money for payments and investments. ETH is one of the largest cryptocurrencies by market capitalization.",
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Suggested change
"page-what-is-ether-hero-description-1": "Ether (ETH) is the native cryptocurrency that powers the Ethereum network and every application built on top of it. It's used to pay transaction fees, secure the network through staking, and serves as digital money for payments and investments. ETH is one of the largest cryptocurrencies by market capitalization.",
"page-what-is-ether-hero-description-1": "Ether (ETH) is the native cryptocurrency that powers the Ethereum network. It's used to pay transaction fees (known as 'gas') for using the network and the applications built on top of it, to secure the network through staking, and serves as digital money for payments and investments. ETH is one of the largest cryptocurrencies by market capitalization.",

Comment on lines +8 to +19
"page-what-is-ether-what-is-ether-description-2": "<strong>As Ethereum's native cryptocurrency, ETH is used to:</strong>",
"page-what-is-ether-what-is-ether-description-3": "Power decentralized applications",
"page-what-is-ether-what-is-ether-description-4": "Pay fees for transactions on the Ethereum blockchain",
"page-what-is-ether-what-is-ether-description-5": "Secure the Ethereum network through staking",
"page-what-is-ether-what-is-ether-description-6": "ETH was introduced in 2015 as part of Ethereum's launch and has since grown to become one of the <assets>most valuable assets in the world</assets>.",
"page-what-is-ether-what-is-ether-description-7": "For consumers",
"page-what-is-ether-what-is-ether-description-8": "ETH enables global payments without banks, purchases of non-fungible tokens (NFTs), and access to decentralized finance (DeFi) apps. It's censorship resistant with 24/7 cross-border functionality.",
"page-what-is-ether-what-is-ether-description-9": "For developers",
"page-what-is-ether-what-is-ether-description-10": "ETH pays for transaction fees when deploying smart contracts. It's essential for testing and powering applications in the Ethereum ecosystem.",
"page-what-is-ether-what-is-ether-description-11": "For investors",
"page-what-is-ether-what-is-ether-description-12": "ETH functions as a store of value and yield-generating asset through staking. It provides exposure to web3 growth and the expanding digital economy.",
"page-what-is-ether-what-is-ether-description-13": "Learn more about ETH staking",
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Suggested change
"page-what-is-ether-what-is-ether-description-2": "<strong>As Ethereum's native cryptocurrency, ETH is used to:</strong>",
"page-what-is-ether-what-is-ether-description-3": "Power decentralized applications",
"page-what-is-ether-what-is-ether-description-4": "Pay fees for transactions on the Ethereum blockchain",
"page-what-is-ether-what-is-ether-description-5": "Secure the Ethereum network through staking",
"page-what-is-ether-what-is-ether-description-6": "ETH was introduced in 2015 as part of Ethereum's launch and has since grown to become one of the <assets>most valuable assets in the world</assets>.",
"page-what-is-ether-what-is-ether-description-7": "For consumers",
"page-what-is-ether-what-is-ether-description-8": "ETH enables global payments without banks, purchases of non-fungible tokens (NFTs), and access to decentralized finance (DeFi) apps. It's censorship resistant with 24/7 cross-border functionality.",
"page-what-is-ether-what-is-ether-description-9": "For developers",
"page-what-is-ether-what-is-ether-description-10": "ETH pays for transaction fees when deploying smart contracts. It's essential for testing and powering applications in the Ethereum ecosystem.",
"page-what-is-ether-what-is-ether-description-11": "For investors",
"page-what-is-ether-what-is-ether-description-12": "ETH functions as a store of value and yield-generating asset through staking. It provides exposure to web3 growth and the expanding digital economy.",
"page-what-is-ether-what-is-ether-description-13": "Learn more about ETH staking",
"page-what-is-ether-what-is-ether-description-2": "<strong>As Ethereum's native cryptocurrency, ETH is used to:</strong>",
"page-what-is-ether-what-is-ether-description-3": "Pay transaction fees (gas) for using the network and its applications",
"page-what-is-ether-what-is-ether-description-4": "Secure the Ethereum network through staking",
"page-what-is-ether-what-is-ether-description-5": "ETH was introduced in 2015 as part of Ethereum's launch and has since grown to become one of the <assets>most valuable assets in the world</assets>.",
"page-what-is-ether-what-is-ether-description-6": "For consumers",
"page-what-is-ether-what-is-ether-description-7": "ETH enables global payments without banks, purchases of non-fungible tokens (NFTs), and access to decentralized finance (DeFi) apps. It's censorship resistant with 24/7 cross-border functionality.",
"page-what-is-ether-what-is-ether-description-8": "For developers",
"page-what-is-ether-what-is-ether-description-9": "ETH pays for transaction fees when deploying smart contracts to the Ethereum mainnet. It's also the primary currency used within many applications in the Ethereum ecosystem.",
"page-what-is-ether-what-is-ether-description-10": "For investors",
"page-what-is-ether-what-is-ether-description-11": "ETH functions as a store of value and yield-generating asset through staking. It provides exposure to web3 growth and the expanding digital economy.",
"page-what-is-ether-what-is-ether-description-12": "Learn more about ETH staking",

Comment on lines +41 to +43
"page-what-is-ether-how-to-send-and-receive-eth-description-4": "When buying ETH you'll hear \"<strong>account/address</strong>\" and \"<strong>wallet</strong>\".",
"page-what-is-ether-how-to-send-and-receive-eth-description-5": "Think of your <strong>account like your email address</strong> where people send you money.",
"page-what-is-ether-how-to-send-and-receive-eth-description-6": "Think of your <strong>wallet like your email app</strong> where you check balances and make payments.",
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Is this same sidenote included in both of these sections on purpose @konopkja? It's also in "How to buy ETH" above (lines 24- 26)

"page-what-is-ether-how-much-does-it-cost-to-send-eth": "How much does it cost to send ETH?",
"page-what-is-ether-how-much-does-it-cost-to-send-eth-description-1": "Ethereum transactions require transaction <strong>fees paid in ETH</strong> and calculated in a unit called gas. Fees fluctuate based on network demand, with off-peak periods offering lower costs.",
"page-what-is-ether-l2s": "Enter L2s: Scaling Ethereum",
"page-what-is-ether-l2s-description-1": "As Ethereum's popularity grows, keeping transaction fees low becomes challenging. Layer 2 (L2) networks address this issue.",
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Suggested change
"page-what-is-ether-l2s-description-1": "As Ethereum's popularity grows, keeping transaction fees low becomes challenging. Layer 2 (L2) networks address this issue.",
"page-what-is-ether-l2s-description-1": "As Ethereum's popularity grows, keeping transaction fees low becomes challenging. **Layer 2 (L2)** networks address this issue.",

"page-what-is-ether-how-long-does-it-take-to-send-eth-description-2": "Transactions achieve 'finality' after ~15 minutes, compared to Bitcoin's 60-minute average.",
"page-what-is-ether-how-long-does-it-take-to-send-eth-description-3": "During high network traffic, you can speed up transactions by paying higher transaction fees, placing you ahead in line. Fees are split between validators and a burning mechanism.",
"page-what-is-ether-how-much-does-it-cost-to-send-eth": "How much does it cost to send ETH?",
"page-what-is-ether-how-much-does-it-cost-to-send-eth-description-1": "Ethereum transactions require transaction <strong>fees paid in ETH</strong> and calculated in a unit called gas. Fees fluctuate based on network demand, with off-peak periods offering lower costs.",
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Original comment here can't be added to because it's outdated, but I agree that this description should be updated to more accurately portray how gas works

Suggested change
"page-what-is-ether-how-much-does-it-cost-to-send-eth-description-1": "Ethereum transactions require transaction <strong>fees paid in ETH</strong> and calculated in a unit called gas. Fees fluctuate based on network demand, with off-peak periods offering lower costs.",
"page-what-is-ether-how-much-does-it-cost-to-send-eth-description-1": "Ethereum transactions require transaction <strong>fees paid in ETH</strong>. The fee is calculated based on the computational work required (measured in 'gas'), and the network's current demand. The price of gas fluctuates with network traffic, making transactions lower-cost during off-peak periods.",

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Paul's OG suggestion would also work here if the above is too technical - "and calculated using a unit of computation called gas."

"page-what-is-ether-how-much-does-it-cost-to-send-eth-description-1": "Ethereum transactions require transaction <strong>fees paid in ETH</strong> and calculated in a unit called gas. Fees fluctuate based on network demand, with off-peak periods offering lower costs.",
"page-what-is-ether-l2s": "Enter L2s: Scaling Ethereum",
"page-what-is-ether-l2s-description-1": "As Ethereum's popularity grows, keeping transaction fees low becomes challenging. Layer 2 (L2) networks address this issue.",
"page-what-is-ether-l2s-description-2": "L2s like <optimism>Optimism</optimism> and <arbitrum>Arbitrum</arbitrum> offer <strong>5-10x cheaper fees</strong> while inheriting Ethereum's security. They process transactions off-chain and post summaries to Ethereum.",
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Suggested change
"page-what-is-ether-l2s-description-2": "L2s like <optimism>Optimism</optimism> and <arbitrum>Arbitrum</arbitrum> offer <strong>5-10x cheaper fees</strong> while inheriting Ethereum's security. They process transactions off-chain and post summaries to Ethereum.",
"page-what-is-ether-l2s-description-2": "L2s like <optimism>Optimism</optimism> and <arbitrum>Arbitrum</arbitrum> offer <strong>10-100x cheaper fees</strong> while inheriting Ethereum's security. They process transactions off-chain and post data to Ethereum.",

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5-10x is way under the reality post-4844... I think the actual here with current network dynamics is 50-100x cheaper, but using 10 provides more flexibility if that changes in the future

"page-what-is-ether-l2s-description-4": "L2 <strong>transfers can cost as little as $0.04</strong>, bringing Ethereum to millions more users through integrations with companies like Robinhood, PayPal, and Shopify.",
"page-what-is-ether-what-is-the-eth-supply": "What is the ETH supply?",
"page-what-is-ether-what-is-the-eth-supply-description-1": "Unlike Bitcoin's fixed 21 million cap, ETH has dynamic supply mechanics:",
"page-what-is-ether-what-is-the-eth-supply-description-2": "New ETH is issued to reward network validators",
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Suggested change
"page-what-is-ether-what-is-the-eth-supply-description-2": "New ETH is issued to reward network validators",
"page-what-is-ether-what-is-the-eth-supply-description-2": "New ETH is issued to reward network validators at a limited rate calculated by the protocol",

"page-what-is-ether-what-is-the-eth-supply": "What is the ETH supply?",
"page-what-is-ether-what-is-the-eth-supply-description-1": "Unlike Bitcoin's fixed 21 million cap, ETH has dynamic supply mechanics:",
"page-what-is-ether-what-is-the-eth-supply-description-2": "New ETH is issued to reward network validators",
"page-what-is-ether-what-is-the-eth-supply-description-3": "A portion of every transaction fee is permanently \"burned\"",
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Suggested change
"page-what-is-ether-what-is-the-eth-supply-description-3": "A portion of every transaction fee is permanently \"burned\"",
"page-what-is-ether-what-is-the-eth-supply-description-3": "A portion of every transaction fee is permanently \"burned\" (deleted from existence)",

"page-what-is-ether-breakdown-description-4": "<strong>Ethereum Foundation</strong>: Holds <ef>less than 0.3%</ef> of supply (down from 9% in 2014)",
"page-what-is-ether-who-holds-most": "Who holds the most?",
"page-what-is-ether-who-holds-most-description-1": "The largest address is the Beacon Deposit contract, representing millions of stakers rather than a single entity.",
"page-what-is-ether-who-holds-most-description-2": "<strategic>strategicethreserve.xyz</strategic> hosts a list major ETH holders that's updated regularly.",
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@mnelsonBT mnelsonBT Oct 29, 2025

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@wackerow @konopkja strategic eth reserve only shows treasuries & etfs, not the top ETH holders. Thoughts on using https://etherscan.io/accounts instead?

If you want to kep this strategicethreserve link, here is an edit suggestion:

Suggested change
"page-what-is-ether-who-holds-most-description-2": "<strategic>strategicethreserve.xyz</strategic> hosts a list major ETH holders that's updated regularly.",
"page-what-is-ether-who-holds-most-description-2": "<strategic>strategicethreserve.xyz</strategic> hosts a list of major ETH holders that's updated regularly.",

"page-what-is-ether-breakdown-description-3": "<strong>Smart contracts</strong>: Significant amounts in smart contracts including DeFi protocols",
"page-what-is-ether-breakdown-description-4": "<strong>Ethereum Foundation</strong>: Holds <ef>less than 0.3%</ef> of supply (down from 9% in 2014)",
"page-what-is-ether-who-holds-most": "Who holds the most?",
"page-what-is-ether-who-holds-most-description-1": "The largest address is the Beacon Deposit contract, representing millions of stakers rather than a single entity.",
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Here is a specific edit to this section:

Suggested change
"page-what-is-ether-who-holds-most-description-1": "The largest address is the Beacon Deposit contract, representing millions of stakers rather than a single entity.",
"page-what-is-ether-who-holds-most-description-1": "The wallet address with the highest ether balance is the [Beacon Deposit contract](https://ethereum.org/glossary/#deposit-contract), but it doesn't represent a pool of 'held' funds. It's the entry point for staking, so its ETH balance represents the total amount of ETH that has been staked by millions of individuals to help secure the Ethereum network.",

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That said @konopkja - I find this section quite odd, and I don't understand what value it would provide to any person reading this page.

I'm guessing the reason that this section was added was to capitalize on the "who holds the most ETH" search query (not to provide direct value to the reader).
Even in that light, there are some issues:

  • As discussed RE: the wallet page updates, a wallet "holding" an asset doesn't translate outside of English
  • The h2 used here is ""Who holds the most?"," which doesn't include the critical ETH/ether/Ethereum keyword
  • I don't have access to the original SEO brief in Notion, so I can't see how they ranked the keywords for this page. But I just quickly checked "who holds the most ETH" in the free keyword checker tools on ahrefs + semrush and they both showed 0 data/results; for "who holds the most ethereum" semrush shows a global monthly search volume of 20 searches, and ahrefs shows 0 data/results.
  • Doesn't make sense to me that the title is "who holds the most ETH" and then the description is "this wallet, but it doesn't actually hold any ETH"
  • In terms of capitalizing on the search term, I think this top resource is much more interesting and useful: https://info.arkm.com/research/who-owns-the-most-ethereum-2025-vitalik-bitmine I am guessing we wouldn't want to publish individual names on this site, though?

Overall, I would strongly recommend we remove this section. I question both its value for SEO + its value for readers. But I would defer to you both if there's any additional context missing here.

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I'm guessing the reason that this section was added was to capitalize on the "who holds the most ETH" search query
-> yes

Screenshot 2025-10-29 at 20 20 34

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i am fine removing it then, but i think this

"strategicethreserve.xyz hosts a list of major ETH holders that's updated regularly."

may be useful link, what do you think?

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Ok, thank you for clarifying!

My apologies @konopkja - this reply from you made me realize that the suggestions/comments on this PR don't show up in order here like they do when reviewing the main file "src/intl/en/page-what-is-ether.json". I'll try to group these comments in a more orderly fashion moving forward.

Agreed, I think linking out to a resource that has a more full list is more useful!
I'm fine with keeping the strategiceth link, but I also suggested an alternative link we could use in this comment: #16389 (comment)

I defer to you on which link you think would be best! Overall I agree with keeping that bit on the page, though.

"page-what-is-ether-what-makes-eth-valuable-description-5": "<strong>Supply dynamics</strong>: Fee burning creates deflationary pressure during high usage periods. Since 2021, <ultrasound>millions of ETH have been permanently removed</ultrasound> from circulation.",
"page-what-is-ether-what-is-wrapping-eth": "What is wrapping ETH?",
"page-what-is-ether-what-is-wrapping-eth-description-1": "Wrapped ETH (WETH) is ETH packaged in a smart contract for compatibility with certain decentralized applications. It maintains a 1:1 value with ETH but follows technical standards (like ERC-20) that some applications require.",
"page-what-is-ether-what-is-wrapping-eth-description-2": "Common uses include:`",
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Suggested change
"page-what-is-ether-what-is-wrapping-eth-description-2": "Common uses include:`",
"page-what-is-ether-what-is-wrapping-eth-description-2": "Common uses include:",

"page-what-is-ether-what-makes-eth-valuable-description-4": "<strong>Store of value</strong>: Many view ETH as \"digital oil\" - a scarce asset with real utility powering the digital economy.",
"page-what-is-ether-what-makes-eth-valuable-description-5": "<strong>Supply dynamics</strong>: Fee burning creates deflationary pressure during high usage periods. Since 2021, <ultrasound>millions of ETH have been permanently removed</ultrasound> from circulation.",
"page-what-is-ether-what-is-wrapping-eth": "What is wrapping ETH?",
"page-what-is-ether-what-is-wrapping-eth-description-1": "Wrapped ETH (WETH) is ETH packaged in a smart contract for compatibility with certain decentralized applications. It maintains a 1:1 value with ETH but follows technical standards (like ERC-20) that some applications require.",
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Suggested change
"page-what-is-ether-what-is-wrapping-eth-description-1": "Wrapped ETH (WETH) is ETH packaged in a smart contract for compatibility with certain decentralized applications. It maintains a 1:1 value with ETH but follows technical standards (like ERC-20) that some applications require.",
"page-what-is-ether-what-is-wrapping-eth-description-1": "Wrapped ETH (WETH) is an ERC-20 token that represents ETH on a 1:1 basis. Many decentralized apps and L2 networks are built to handle ERC-20 tokens, but native ETH itself is not an ERC-20 token. ‘Wrapping' (locking in a smart contract) ETH, and issuing an ERC-20 representation of that locked ETH (WETH), allows ether to be used across any apps and L2s that can only accept ERC-20 tokens. ",

"page-what-is-ether-what-is-wrapping-eth-description-3": "Trading pairs on decentralized exchanges like <uniswap>Uniswap</uniswap>",
"page-what-is-ether-what-is-wrapping-eth-description-4": "Collateral on lending platforms like <aave>Aave</aave>",
"page-what-is-ether-what-is-wrapping-eth-description-5": "Bidding on NFT marketplaces like <opensea>OpenSea</opensea>",
"page-what-is-ether-what-is-wrapping-eth-description-6": "WETH can be unwrapped back to ETH anytime with minimal fees. Most applications handle the wrapping process seamlessly.",
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Suggested change
"page-what-is-ether-what-is-wrapping-eth-description-6": "WETH can be unwrapped back to ETH anytime with minimal fees. Most applications handle the wrapping process seamlessly.",
"page-what-is-ether-what-is-wrapping-eth-description-6": "WETH can be unwrapped back to ETH anytime with minimal fees. The WETH is destroyed, and the ETH it represented is released from the smart contract. Most applications handle the wrapping and unwrapping process seamlessly.",

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