The terms 'Ethereum, Solana, Polkadot and Tether', sometimes mentioned

The terms ‘Ethereum, Solana, Polkadot and Tether’, sometimes mentioned in the news, refer to

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Cryptocurrencies

Earth Observation Satellites

Hypersonic Cruise Missiles

Virtual Private Network service providers

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UPSC CDS-2 – 2022

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The terms ‘Ethereum, Solana, Polkadot and Tether’ are well-known names in the world of cryptocurrencies. They represent different types of digital assets based on blockchain technology.

Cryptocurrencies are digital or virtual currencies that are secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers.

Ethereum is a platform that enables developers to build decentralized applications (dApps) and issue smart contracts, with Ether (ETH) being its native cryptocurrency. Solana is known for its high transaction speed and scalability. Polkadot aims to connect different blockchains. Tether (USDT) is a stablecoin, meaning its value is pegged to a traditional currency (the US dollar) to reduce volatility.

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