Ethereum News ETH

Ethereum is often referred to as the second most popular digital currency after Bitcoin. It also ranks second in market value. Unlike Bitcoin and most other digital currencies, Ethereum aims to be much more than just an alternative currency, means of payment, exchange, or store of value. It is a decentralized computing network built on blockchain technology used for data storage and running decentralized applications, continuously evolving and improving, increasing its potential to surpass Bitcoin someday.

  • Ethereum price( ETH )

    $3,486.33 2.51%

  • Market cap $

    419,965,103,060

    Maximum supply

    N/A

  • Trading volume 24 Hour

    21,684,066,306

    Circulation supply

    120,460,544.65

You can learn more about Ethereum ETH Through the following points

Ethereum (ETH) is not merely a digital currency but a comprehensive platform built on blockchain technology. It is an open-source, decentralized network serving as the foundation for many other cryptocurrencies and executing decentralized smart contracts. Besides smart contracts, the Ethereum blockchain can host tokens or digital currencies through the ERC-20 standard, the most common use of the Ethereum platform. Over 280,000 ERC-20 compliant tokens have been launched, with more than 40 of them ranking among the top 100 cryptocurrencies by market value, such as Tether (USDT), Chainlink (LINK), and Binance Coin (BNB). Ether (ETH) is the digital currency token derived from the Ethereum blockchain, which allows the secure transfer of encrypted data, making it nearly impossible to forge. Unlike Bitcoin, Ethereum is more complex and can be used to run various applications, which some believe may eventually make it the leading cryptocurrency.
Ethereum's main innovation was designing a platform that allows the execution of smart contracts using blockchain technology, enhancing the benefits of smart contracts. It was built to theoretically make any program more robust, censorship-resistant, less susceptible to hacking or fraud by running it on a globally distributed decentralized network of public nodes. Ethereum was first introduced in 2013 by Canadian-Russian programmer Vitalik Buterin. The project was crowdfunded in 2014, and the network began operating on July 30, 2015, with an initial supply of 72 million coins. The platform allows developers to build and operate decentralized applications (DeFi), providing a wide range of financial services without financial intermediaries or third parties like banks. Recently, it has enabled digital currency users to borrow against their holdings or deposit them to earn interest.
Like all digital currencies, Ethereum operates on a blockchain network, a decentralized and distributed public transaction ledger where all transactions are verified and recorded. Being decentralized and distributed means every participant in the Ethereum network has an identical copy of this encrypted ledger, allowing them all to view all previous transactions. The network is not run or managed by any central entity but by all the network participants.
All transactions on the blockchain network are encrypted to maintain the network's security and verify transactions. Participants use advanced computers to solve complex mathematical equations that confirm each transaction on the network and add new blocks to the existing blockchain, a process known as mining. Participants are rewarded with digital or virtual coins or cryptocurrency tokens. In the Ethereum system, these tokens are called Ether (ETH).
Bitcoin's primary use is as a virtual currency and store of value. Similarly, Ether is also a virtual currency and store of value, but the Ethereum decentralized network enables the creation and operation of applications, smart contracts, and other transactions, unlike the Bitcoin network, which is used solely as a currency and store of value. Additionally, the Ethereum network processes transactions faster. New blocks on the Bitcoin network are validated every 10 minutes, while new blocks on the Ethereum network are validated every 12 seconds. This could accelerate future developments on the network, potentially speeding up Ethereum transactions further. Finally, there is no limit to the number of potential Ether tokens, whereas Bitcoin will never exceed 21 million coins.
Ethereum is currently the second-largest cryptocurrency after Bitcoin. Therefore, it is possible to buy Ethereum or use ETH trading pairs against traditional currencies such as the US dollar, euro, or British pound, or against other cryptocurrencies such as Bitcoin, on almost all major cryptocurrency exchanges. Once you choose the exchange you wish to trade on, open an account, and fund your wallet with traditional currencies, you can use the funds to buy Ether at its current price. Once the coins are in your account, you can hold, sell, or trade them for other digital currencies.
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