What is Ethereum (ETH)

Ethereum (ETH)

Ethereum (ETH)
0.88%
$ 3,707.71
$ 32.63
⇣ 3,675.57
1 Dec
⇡ 3,740.48

Ethereum price, rate, market capitalization and other statistics

ethereum
Ethereum (ETH)
Rank: 2
3.503,78
Price (BTC)
Ƀ0.03817465
Marketcap
421,97 B
Volume
27,54 B
24h Change
0.88%
Total Supply
120,44 M ETH

What is Ethereum? Simply explained

Ethereum is a decentralized operating system. The platform introduced the concept of "decentralized applications" in practice. Its founder, Vitalik Buterin, has been involved in the development of blockchain and Bitcoin from the very beginning.

Today, several cryptocurrencies are issued in ICOs with Ethereum. These tokens are called ERC-20 and are the basis for the execution of scripts in the Ethereum Virtual Machine. By developing "smart contracts", Ethereum enabled the signing of tokens that have a specific function in addition to their function as a medium of exchange and expanded the possibilities of blockchain "transactions".

The main cryptocurrency is Ether, which is usually used for payments in smart contracts or dApps. In addition, Ethereum is also powered by GAS, a cryptocurrency associated with operations that require some kind of computation from its nodes. The GAS price is proportional to the type of computational power required to perform a task. Therefore, a fee is included in GAS to pay the nodes that execute or authenticate a transaction.

Originally, Ethereum used Proof-of-Work to achieve consensus. With the Casper protocol, however, the Ethereum consensus was gradually switched from PoW to its own proof-of-stake protocol.

Ethereum Calculator

Ethereum price

  • Zoom
  • Hour
  • Day
  • Week
  • Month
  • Year
  • All Time
  • Type
  • Line Chart
  • Candlestick

Ethereum historical data

* Currency in EUR
Historical Price for Ethereum
DateOpenCloseHighLowVolume

Where can you buy Ethereum? Markets

ETH tokens can be traded on centralized crypto exchanges. The most popular exchange for buying and trading Ethereum is Binance. Other popular options are Pionex,  Gate.io or Bitget

Ethereum Markets
#SourcePairVolumePriceChangeUpdated

What makes Ethereum unique?

Ethereum enables the creation of ERC-20-tokens that can be used as native tokens for applications on the Ethereum blockchain. These tokens are used to Governancefor the payment of trading fees or as a store of value as with stablecoins (e.g. USDT, USDC). However, the transaction fees (gas fees) are still paid in ETH, as all transactions are recorded on the Ethereum blockchain.

History of Ethereum

The Ethereum project was first 2013 from Vitalik Buterin presented in the white paper. In 2014, Gavin Wood published the yellow paper with technical details. In the September 2014 a fundraising sale took place, and the network was sold in the July 2015 live. On September 15, 2022 Ethereum switched from proof-of-work to proof-of-stake consensus with the merge.

What can Ethereum (ETH) be used for?

Ether (ETH) is the native currency of the Ethereum network and is used to pay for transactions. As a utility token, ETH is used to pay gas fees, which are denominated in gwei. Stakers on the Ethereum network receive ETH as a reward for securing the network. In addition, ETH is a cryptocurrency, similar to Bitcoin, and can be traded on various centralized and decentralized exchanges or deposited as collateral for loans.

Social media posts

Share the Post:
en_USEnglish
Scroll to Top