Ethereum ETH Price 3,547.01

The Ethereum today is 3,547.01 USD, and the trading volume in 24 hours - 14,337,668,434 USD. The crypto asset has grown by 2.94% over the day. Currently, the coin’s market capitalization is 425,892,010,806 USD, and has 0.00000000 coins in circulation with the max supply of 120,070,549 coins ETH.

What is Ethereum cryptocurrency(ETH)?

Ethereum was created in 2014 by Vitalik Buterin. It is the second largest cryptocurrency by capitalization after Bitcoin, which also operates on an open source model with a decentralized network. Ethereum is mainly used to build smart contracts and decentralized applications. He is also behind the creation of the so-called ERC-20 tokens, which allow other projects to launch their ICOs (Initial Coin Offering).

Thus, Vitalik Buterin is the main architect of the creation of Ethereum. He has been interested in Blockchain technology since the age of 17 and has been on the team of cryptocurrency programmers since 2011.

Its main idea: to go beyond Bitcoin and develop a platform that allows for something other than a simple cryptocurrency exchange. The Ethereum whitepaper was released back in 2013 and caught the attention of members of the crypto community.

Determined to realize his project, Vitalik Buterin participates in a crowdfunding campaign and has managed to raise $ 18 million. Tempted by the goals of the project, programmers joined the project, and the first version of Ethereum was released in 2015, initially under the name "Frontier".

In 2015, Ethereum quickly grew from a few cents to ten dollars. But then in 2016, this asset underwent a massive hack. The episode, known as TheDAO Hack, resulted in a total of $ 50 million of ETH being stolen. After extensive debate about network security and regulations, the Ethereum community split into two: Ethereum (ETH) and EthereumClassic (ETC).

After that, the development continued. In 2017, Ethereum became the source of the ICO (Initial Coin Offerings) hype. Then its price rose sharply from $ 15 to $ 400. After a bubble at the end of 2017, ETH was worth nearly $ 1,400 in early January 2018, before losing much value like all cryptocurrencies. In October 2019, the excitement subsided and development of ETH 2.0 resumed.

How many Ethereum coins are in circulation? What is their price and course?

At the moment, the maximum supply price of Ethereum is 120,070,549 coins ETH, 0.00000000 ETH is in circulation.

Today the price of the Ethereum coin is 3,547.01 USD, with a daily trading volume - 14,337,668,434 USD, market capitalization - 425,892,010,806 USD.

What is Ethereum 2.0.?

Ethereum 2.0 is an upgrade to the ETH network that improves the performance, efficiency, and scalability of the network. It is taking ETH to new heights, and its price will rise due to the fact that it will be able to significantly increase the number of transactions, reduce congestion and huge gas costs on the network. Upon reaching the last phase of the update, dubbed "Phase 2", ETH will achieve its goals of becoming an open and transparent network for decentralized applications and finance (DeFi).

Ethereum 2.0 includes sharding in order to dramatically increase network performance and reduce gas costs, which will reduce the cost of sending ETH, tokens and interacting with smart contracts. There will also be fundamental economic changes - the transition from Proof-of-Work (PoW) consensus to Proof-of-Stake (PoS) and ShardChains, which will make it possible to maintain nodes for staking and receive Ethereum as passive income. The Ethereum 2.0 update was completed in 3 stages:

Stage zero is the launch of the Beacon network, in which a simplified proof-of-stake blockchain is launched simultaneously with the existing system. This is done to facilitate the transition between the two types of validation concepts.

The first stage is the introduction of sharding. Blockchain will see its first processing units, which will enable parallel validation of transactions for the first time.

The second phase is to launch eWASM as the successor to EVM.

As you progress through each stage, the creators conduct many tests to make sure that the system is safe and stable. It will also give users time to adjust to the specifics of the new blockchain implementation. In many ways, ETH 2.0 is a combined effort of thousands of developers who have been working for years.

The update was launched on December 1, 2020.

Ethereum is a project that meets many needs and has a very large community around it. Many developments and changes are planned, which should lead to an increase in the value of ETH in the future.