Ethereum Price

How much is Ethereum today - Price chart in dollars (online) and price forecast. Where can you buy Ethereum (ETH) and how cryptocurrency works. The Ethereum chart shows the change in the value of the cryptocurrency in real time. Dozens of standard and custom indicators can be used for analysis. Ethereum is one of the most well-known cryptocurrencies on the market. Despite its popularity, it does not circulate on classical trading platforms, however, it is present on almost all cryptocurrency exchanges. Ethereum — the world’s second-most famous blockchain network — is a platform for creating decentralized applications based on blockchain and smart contract technology (a command that automatically enforces the terms of the agreement based on a given algorithm). It's the chain that birthed DeFi (decentralized finance) and started the NFT craze which saw billions of dollars pour into cryptocurrency. Safe to say, it's one of the big dogs.

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Technical Analysis & Forecast ETH USD

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About Ethereum

Ethereum is the second largest cryptocurrency in terms of capitalization in the world. It is believed that, unlike Bitcoin, Ethereum has significantly more potential. In addition to using it as an investment asset or a means of payment, it is suitable for creating blockchain-based services based on it, operating on the basis of smart contracts.

Thus, Ethereum facilitates the implementation of decentralized technologies, which increases the demand for it from both small businesses and giant companies, especially in the field of software development. Initially, the project was implemented precisely to create on its basis this kind of developments.

As is the case with most major cryptocurrencies, the Ethereum chart shows high volatility and can be quite unpredictable.

Its ability to demonstrate movements of 30-40% in a short time gives an advantage when using short-term strategies, including intraday and scalping ones. Long-term investments in an asset are also possible, but they are less common due to the difficulty of predicting the Ethereum rate.

Vitaly Buterin proposed the Ethereum concept at the end of 2013, at the same time the development of the blockchain began from scratch; in addition to Buterin, Anthony Di Loriot, Mihai Alize and Charles Hoskinson worked on this.

Simultaneously with the start of development in Switzerland, Ethereum Switzerland GmbH was created, later Stiftung Ethereum, a non-profit foundation, was created. Buterin explained the choice of the country by the legislation soft in relation to cryptocurrencies and the fact that in Switzerland there are a lot of banks and financial companies that might be interested in the new technology.

After the launch of the network, Ethereum did not immediately become popular, but over time it gained trust in the eyes of users. The sharp growth began after the ICO boom; it was ETH tokens that were actively used to participate in the initial sale of coins.

Now the price of Ethereum is an order of magnitude higher than the cost of the cryptocurrency in the first months after the launch.

Unlike other cryptocurrencies, the creators of Ethereum did not limit the maximum emission. A hard limit on the maximum number of coins would contradict the logic of the authors of the project.

Ethereum was conceived not as an alternative to fiat currencies or a competitor to Bitcoin, but as a universal exchange tool and for transferring familiar processes to the use of smart contracts.

Sooner or later, this approach will lead to ETH inflation, but practice has shown that it is controllable and does not collapse the rate.

Initially, the PoW consensus algorithm (ethash) was used, farms from video cards were used for mining. Later, the decision was made to switch to the PoS algorithm (proof of stake).

The speed of transaction confirmation is on the order of several minutes. The size of the commission is set by the user himself, if you do not indicate its minimum, then the confirmation speed is less than a minute.

A key feature of Ethereum is the ability to use smart contracts to ensure that the parties to the transaction honestly fulfill their obligations. The technology itself was described in the mid-90s, but only with the advent of Ethereum did it become possible to implement them.

A smart contract is a program code in which the obligations of the parties are indicated in the “if-then” format. Due to this, using smart contracts, you can not only implement exchange operations, but also transactions for the purchase of various assets.

For example, indicate in a smart contract that ownership of real estate is transferred to party B after she transfers to party A a specified amount in ETH tokens or in another cryptocurrency / fiat currency.

Due to standardization (creating a standard code of a smart contract for the most common operations), you can significantly reduce the cost of supporting transactions. The intermediary between the parties is eliminated, they interact directly.

Ethereum has long since emerged from its "promising newbie" state. The usefulness of cryptocurrency and smart contract technology has been proven by time, large players are interested in it, so Ethereum is stable.

As for the long-term outlook for the Ethereum exchange rate, the future looks bright for this cryptocurrency. Large players are interested in this platform, which means that the growth rate of ETH is constrained solely by the level of implementation of blockchain technologies in the world.

High volatility allows you to make money on Ethereum not only through long-term investment, but also through active trading.

Currently, several services operate on the basis of Ethereum, such as the Gitcoin developer community, the Cent social network, the Veil trading platform and many others. Ethereum can be bought in a few seconds on the Cryptocurrency exchange.