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What is Ethereum all about
Ethereum, launched in 2015, is often seen as the first major abstraction of Bitcoin and blockchain technology. It ushered in a new generation for the technology as it allowed for the functionality of smart contracts — autonomous executional contracts that enact upon certain parameters.
Ethereum was also created to be a platform that opened up a new world of distributed and decentralised applications (dApps) to be built and run. Ethereum has been billed as a ‘world computer’ and is meant to offer a platform without any downtime, fraud, control, or interference from a third party.
Ethereum’s token, Ether, has long been the second largest cryptocurrency by market cap but unlike Bitcoin which is entirely a value token, Ether is more like a vehicle for moving around on the Ethereum platform. It is used in executing smart contracts and powering applications, but still is used as a general digital currency.
Ethereum was first proposed by programmer Vitalik Buterin with the goal of building these decentralized applications. Buterin felt that Bitcoin and blockchain technology had the potential to offer more application than just financially incentivise opportunities.
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ETH Questions & Answers
How much is Ethereum worth today?
Price of Ethereum today is 3819.67 Euro.
Is Ethereum expected to increase in value in 1 month time?
Based on our price prediction algorithm we suspect that the price of Ethereum is likely going to be between €3517.58 and €4302.76 in 30 days.
What will the price of Ethereum be in 90 days?
Using our short term price prediction we suspect that Ethereum's value will be between €3517.58 and €5033.24 in 3 months.
Is Ethereum going to be worth more half year from now?
It is very difficult to predict the future accurately, however according to our short term price prediction we suspect that the cost of Ethereum will be anywhere between €3517.58 and €5957.72 in half a year.
Does Ethereum have a large following on social media?
1171273 Reddit users participated in an online discussion on Reddit about Ethereum in the last 2 days. Ethereum's Twitter profile currently is followed by 1916391 users.
What was Ethereum's highest price?
We saw the highest spike in the price of Ethereum on 2021-12-01, when it was at 4228.93 EUR.
Are ETH tokens still good stores of value?
ETH is not entirely intended to be a store of value, although it has become used as one in the cryptocurrency space. ETH tokens have the ability to retain value, like Bitcoin, but they are multi-faceted and are also used to drive the Ethereum network, as well as lend themselves as different token standards for other dAps.
What is ETH 2.0?
Ethereum has a long road map that includes a major upgrade once it has achieved a high degree of adoption and useability. Ethereum 2.0 involves the migration from being a secure, but slow acting, proof-of-work blockchain to a better performing proof-of-stake chain.
Why are smart contracts such a big deal?
Smart contracts allow people to set up interactions that are self-executing and entirely decentralized. There are many different applications to this which also involve eliminating middlemen from all kinds of transactions. Smart contracts have the ability to be applied broadly, from computational interactions to individual, personal ones.
How is Ethereum different to Bitcoin?
Ethereum was created to be the next evolution of Bitcoin, and tended to make the blockchain technology underlying the original coin much more powerful. Rather than just being a distributed ledger and financial tool, Ethereum offers computational possibilities with its executable, decentralized smart contracts.