Ethereum Today's Price Overview
- Current Price: $2,541.76 USD
- 24-Hour Trading Volume: $19.54 billion
- 24-Hour Price Change: +0.00%
- Circulating Supply: 120.72 million ETH
What Is Ethereum?
Ethereum is an open-source software platform powered by its native cryptocurrency, Ether (ETH). It enables the creation of smart contracts and decentralized applications (dApps) without risks of downtime, fraud, or third-party interference.
As a Turing-complete blockchain-based programming language, Ethereum allows developers to build:
- Decentralized assets
- Scalable dApps
- Custom token standards (e.g., ERC-20)
It remains the most widely used blockchain platform and the second-largest cryptocurrency by market capitalization.
Brief History of Ethereum
- 2013: Conceptualized by Vitalik Buterin in a whitepaper proposing a unified blockchain for multiple smart contracts.
- 2015: Launched after raising $18.3 million in BTC during its ICO.
- Key Milestone: Transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS) in 2022 to enhance scalability.
How Ethereum Works
Ethereum operates via:
- Smart Contracts: Self-executing agreements with predefined conditions (e.g., DeFi protocols).
- Ether (ETH): Used to pay transaction fees ("Gas").
- ERC-20 Standard: Facilitates token creation (e.g., stablecoins, utility tokens).
👉 Explore Ethereum’s blockchain technology
Use Cases of Ethereum
Ethereum’s versatility supports:
- Decentralized Finance (DeFi): Lending, borrowing, and trading without intermediaries.
- NFTs: Digital art, collectibles, and gaming assets.
- Play-to-Earn Games: In-game economies with crypto rewards.
- Enterprise Solutions: Supply chain tracking and identity verification.
FAQs About Ethereum
1. What’s the difference between Ethereum and Bitcoin?
While Bitcoin is a digital currency, Ethereum is a platform for dApps with its own currency (ETH).
2. How do I buy Ethereum?
Purchase ETH on exchanges like Crypto.com using USD, BTC, or other cryptocurrencies.
3. What is "Gas" in Ethereum?
Gas refers to the fee required to execute transactions or smart contracts on the Ethereum network.
4. Can Ethereum scale to handle more users?
Yes! Upgrades like Ethereum 2.0 (PoS) aim to improve transaction speed and reduce costs.
5. Is Ethereum environmentally friendly?
Post-PoS transition, Ethereum’s energy consumption dropped by ~99.95%.
6. What are ERC-20 tokens?
They’re standardized tokens built on Ethereum (e.g., USDT, LINK).
Key Takeaways
- Ethereum combines smart contracts and dApp support with robust security.
- ETH is essential for network fees and DeFi/NFT ecosystems.
- Continuous upgrades ensure scalability and sustainability.
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