Ethereum (ETH) is a leading decentralized software platform and the world's second-largest cryptocurrency by market capitalization. It is widely recognized for its robust ecosystem of decentralized applications (DApps), smart contracts, and innovative digital assets.
As of the latest data, the Ethereum price is $2,532.27 USD**. It has a 24-hour trading volume of **$18.86 billion USD, with a circulating supply of 120.72 million ETH.
What Is Ethereum?
Ethereum is an open-source software platform that utilizes Ether (ETH) as its native currency. It enables the creation of smart contracts and decentralized applications (DApps) without relying on third-party intermediaries. This eliminates risks related to fraud, interference, and centralized control.
Built on blockchain technology, Ethereum is Turing-complete, providing developers with a versatile environment to build, issue, and manage digital assets and services. It remains the most widely used blockchain platform globally.
A Brief History of Ethereum
Ethereum was first conceptualized in a whitepaper published by Vitalik Buterin in 2013. The document proposed a blockchain network that could support smart contracts and the issuance of new cryptocurrencies without requiring separate blockchains for each.
The Ethereum blockchain officially launched in 2015 after a successful initial coin offering (ICO) that raised $18.3 million in Bitcoin. Since then, it has undergone several major upgrades. One of the most significant was the transition from a proof-of-work (PoW) consensus mechanism to a proof-of-stake (PoS) model, greatly enhancing the network’s scalability and energy efficiency.
How Does Ethereum Work?
Ethereum introduced the concept of a programmable blockchain, allowing users to create fully customizable smart contracts. These contracts enable two parties to set and agree on transaction terms without requiring trust in a third party for execution.
Users pay network fees, known as "gas," in Ether (ETH) for executing smart contracts and processing transactions. Beyond smart contracts, Ethereum also supports the creation of other digital assets, commonly referred to as tokens, through technical standards like ERC-20.
What Is Ethereum Used For?
Ether (ETH) is primarily used to pay for transaction fees and computational services on the Ethereum network. Developers use the platform to run decentralized applications and create new crypto assets. Over time, Ethereum’s use cases have expanded to include decentralized finance (DeFi), play-to-earn gaming, non-fungible tokens (NFTs), and more.
The growing adoption of Ethereum highlights its role as a foundational technology in the blockchain space. 👉 Explore real-time Ethereum tools and resources
Frequently Asked Questions
What is the difference between Ethereum and Bitcoin?
While both are major cryptocurrencies, Bitcoin is primarily a decentralized digital currency, whereas Ethereum is a programmable blockchain platform supporting smart contracts, DApps, and a broader range of decentralized use cases.
How high can the ETH price go?
The price of ETH is influenced by market demand, adoption rates, network upgrades, and broader cryptocurrency trends. While predictions vary, its value is often tied to utility and ecosystem growth.
What is the total supply of ETH?
There is no fixed maximum supply for Ether, but the current circulating supply is approximately 120.72 million ETH. New coins are issued through staking rewards under the proof-of-stake model.
Where can I buy ETH?
Ethereum is available on most major cryptocurrency exchanges. Users can purchase it using fiat currencies or other cryptocurrencies, and store it in a compatible digital wallet.
How does the Ethereum network function?
Ethereum operates as a decentralized global computer. It uses a network of nodes to validate transactions and execute smart contracts, ensuring security and transparency without central authority.
Which wallets support ETH storage?
Ether can be stored in various wallet types, including hardware wallets, software wallets, and mobile wallets. It’s important to choose a secure, non-custodial wallet for long-term holdings.