Ethereum in depth
How Ethereum works and what gas is, accounts, tokens and approvals, layer 2 networks and bridges, staking and restaking, and ETH on the market in real data.
5 modules · 16 lessons · 56 min
Risk warning
This course is educational and is not investment advice. Trading crypto is highly risky – you can lose all the money you put in. Read the risk warning
Who it is for
People who know the crypto basics and want to use Ethereum and its layer 2 networks – or trade ETH – knowing how it works and where the risks are.
What you will learn
- Explain how Ethereum works, what gas pays for and what happens to ETH's supply
- Read what your wallet asks you to sign and manage token approvals
- Understand layer 2 networks and bridges and the risks they add
- Compare ways of staking ETH and see ETH's market behaviour in real data
Course outline
Module 1How Ethereum works
- 1.The world computerWhat Ethereum is, how it differs from Bitcoin, what the EVM virtual machine does and why people call it a world computer that nobody can switch off.4 min
- 2.Proof of stake and The MergeHow Ethereum swapped mining for proof of stake in September 2022, how validators create blocks, what finality and slashing are and which upgrades came next.4 min
- 3.Gas and feesWhat gas is, what an Ethereum fee is made of, why the base fee is burned, what a gwei is and why a transaction cost tens of dollars in 2021 and cents today.4 min
- 4.ETH as an assetHow much ETH exists, how much is added and how much is burned, what the slogan "ultrasound money" promised and what real data from The Merge to 2026 says about ETH's supply.3 min
Module 2Wallet and accounts
- 5.Accounts, addresses and ENSWhat an Ethereum address looks like, why one address works on many networks, what ENS names are and how to defend yourself against address poisoning, which has cost people millions.4 min
- 6.Tokens, NFTs and approvalsWhat ERC-20 tokens and NFTs are, why apps ask for permission to spend your tokens, why an unlimited approval is a risk and how scammers abuse Permit-style signatures.4 min
- 7.Smart wallets and new upgradesWhat a smart wallet (smart account) can do, what the Pectra upgrade with EIP-7702 brought, how passkeys work and what the 1.5 billion theft from the Bybit exchange teaches.4 min
Module 3Layer 2 networks
- 8.Rollups: how layer 2 networks workWhy Ethereum needs layer 2 networks, how optimistic and ZK rollups work, what a sequencer is and what the security levels Stage 0, 1 and 2 mean.4 min
- 9.Bridges and their hacksHow bridges between networks work, why they are hackers' favourite target, what happened to Ronin, Wormhole, Nomad and Kelp DAO, and how to use a bridge with as little risk as possible.3 min
- 10.Why L2 fees are so lowWhat blobs are, how the Dencun, Pectra and Fusaka upgrades made layer 2 networks cheaper, what you still pay for on an L2 and why cheap L2s mean less burned ETH.3 min
Module 4Staking
- 11.Staking ETHHow you can stake ETH: your own validator, a pool, liquid staking and an exchange. How much staking pays, how long a withdrawal takes and what risks each path carries.4 min
- 12.Restaking and its risksWhat restaking and EigenLayer are, why stacking yields also stacks risks, how the dollar value in restaking fell by over 75% and what the rsETH hack of April 2026 showed.3 min
Module 5ETH on the market
- 13.ETH price historyNine years of ETH in real data: from 300 dollars to 1,440, a 94% fall, a top at 4,868, another 82% fall, a record 4,957 in August 2025 and a 70% fall in 2026.3 min
- 14.ETH versus BTCHow closely ETH moves with Bitcoin, how much more it swings, what the ETH/BTC ratio shows and why ETH lost four fifths against Bitcoin between the end of 2021 and 2025.3 min
- 15.ETFs and institutionsWhat spot ETH ETFs are, how much money flowed into them, why they have staked since 2025, what companies buying ETH for their treasury do and what risks it brings.3 min
- 16.Summary and next stepsThe most important points of the Ethereum course in ten rules, and where to go next – from keeping crypto safe to trading with a plan.3 min