The currency of Ethereum (ETH): features and information about the second most important digital currency
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Answer The currency of Ethereum (ETH): features and information about the second most important digital currency
Prepare Ethereum (ETH) coin One of the most important digital currencies in the cryptocurrency market Crypto marketWhich is constantly increasing its status day by day. The launch of this decentralized currency was announced at the end of July 2015.
This currency is similar to Bitcoin in terms of the technology used. It has a system based on a technology called a blockchain or blockchain, and one of the advantages of this currency is that it is not only an alternative currency, but it can also be used to create a group of decentralized applications (dApps).
And it was Ethereum coin At the beginning, it equaled about 2.8 USD and began to grow and rise continuously until it reached its highest levels and reached 21.5 dollars, and then decreased again to settle at the price of 12 dollars, and then it started until it reached more than 1200 dollars, to return again to the levels of 200-300 dollars, in addition In addition, it has a market value of more than 23 billion dollars. One of the analysts in the cryptocurrency world, Tom Lee, expects the price of Ethereum to reach $1,900 by 2019.
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and affected Ethereum price with changes to Ethereum networkThis platform is constantly witnessing a remarkable development to increase the scalability of the Ethereum network, and a number of changes were made to the platform in 2016. Because of these changes, the platform was hacked, which contributed to a significant drop in the price of Ethereum, and its decline reached 30% at the time.
and distinguished cryptocurrency ethereum There is no maximum value of the currency offered in the market, in addition to that, Ethereum users contribute to enhancing the platform with computing capabilities and they can mint the coin. This leads to the creation of five Ethereum coins every 15-17 seconds.
Features of Ethereum Cryptocurrency
1- I created Ethereum In order to serve platform users and reward miners for completing operations on the network, it is also used with decentralized applications (dApps) that are developed on the ethereum network Unlike Bitcoin, which was created to be an alternative method of payment.
2- Ethereum is characterized by its unlimited supply, unlike the Bitcoin supply, which is expected to stop by the year 2140 AD, at 21 million coins.
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3- Ethereum is characterized by the use of Ethereum gas for transactions, and it has a good speed, so a transaction does not need more than fifteen seconds. In contrast, a Bitcoin transaction takes about ten minutes.
4 – Most of the projects were built on the Ethereum network, so there will always be a need for Ethereum and that makes it one of the suitable options in the long run.
And so we see that Ethereum coin It is one of the most prominent digital currencies in the global arena, and we hope that our tour in the world of this currency has given you sufficient and adequate information about it, and encouraged you to invest in it.
Facts about Ethereum
- It is an open source platform, built on blockchain technology and capable of generating new tokens by other developers. This means that the new digital currencies, run on the Ethereum network.
- It plays a major role in the development of the FinTech industry, by automating financial processes and creating applications for smart contracts through it. One of the reasons for the appreciation of the currency is the entry into the system of large banks such as Barclays Bank, HSBC and other financial institutions.
- At the beginning of the launch of Ethereum, 60 million Ethereum was sold in the pre-sale stage, and 12 million Ethereum was sold for business development. The system is designed to generate 18 million new Ethereum each year, making it available comparable to Bitcoin.
– Read also facts about Bitcoin operation here –
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