What Is Ethereum (ETH)?
Ethereum (ETH) is a universal tool for launching decentralized applications running on smart contracts. Ethereum cryptocurrency is the exchange unit of the ecosystem. Ethereum is sometimes called Bitcoin 2.0, but despite a certain similarity, these projects have fundamentally different purposes.
The main value of the Ethereum network is not the digital coins but the capabilities of the virtual platform. These days all sorts of blockchain projects are launched based on Ethereum.
Ethereum Brief History
A programmer Vitalik Buterin came up with the idea for Ethereum. According to the expert, he was inspired to create his own project by Bitcoin. He found out about the first cryptocurrency from his father interested in new technologies.
The Whitepaper was introduced by the programmer in 2013. The developer sent the document for review to his acquaintances from the crypto community, formed from the authors and readers of the Bitcoin Magazine, as well as participants of cryptocurrency forums.
That same year, the new project team, which included Gavin Wood, Jeffrey Wilk, Charles Hoskinson, Anthony di Iorio, and a number of other now-renowned experts, held a crowdsale and received the Thiel Fellowship. During the first 14 days of the presale, the ETH coin was sold for 2,000 ETH per BTC.
Key Features Of $ETH
The Ethereum coin has the unique distinction of using smart contracts. Each transaction in the system is made using a computer program. It verifies the terms of the transaction and the fulfillment of obligations between the sender and the recipient. Since all the clauses are monitored by machines rather than humans, this ensures honesty and impartiality. Thus, a smart contract cannot be circumvented or undone.
A contract is considered to be executed once it has received a notification from another user or another smart contract. The computer program sends money on its own, once the conditions are met. It can also work with a database that accompanies each transaction. Once the transaction is completed, the computational result is recorded in the blockchain. The sender will be able to notice it immediately by observing the smart contract.
What Is The Price Of Ethereum?
The current ETH coin price is 2174.3639 USD.
Those who want to know what is ETH coin should be aware of how smart contacts work. These are protocols used to verify commitments between participants in the Ethereum system. The user will not receive a transfer of an asset until the conditions spelled out in the contract are met. In this way, obligations are enforced without regulators or government agencies.
Smart contracts can be used in various financial products, such as affiliate programs, periodic payments, and trading.
Where To Buy Ethereum And Store It
If a person thinks about how to buy and sell ETH, cryptocurrency exchanges are the most useful methods. They allow users to buy Ethereum fast and let them exchange larger sums. What's more, users can always find out how much is Ethereum at a particular time.
It's also possible to use P2P exchanges. These are services where a buyer and a seller in a P2P network publish a trade ad to perform a transaction in a certain price range in a certain location. There is a direct interaction between buyer and seller.
Users can store coins in the official wallet provided by the ETH developers. There are also browser extensions. The private keys are at the complete users' disposal, which already increases the security of the wallet. Yet, for long-term storage, with large sums of money, it's better to use hardware or paper wallets.
The main pros of ETH are:
- Versatility. It supports different programming languages and algorithms of different complexity, and smart contracts are used in different areas.
- Flexibility. The platform is open to improvements, upgrades, and updates.
- Accessibility. Ethereum is an open platform for the development of decentralized applications. Almost anyone can act as a developer.
Smart contracts used for the ETH cryptocurrency project can fundamentally change the relationship between parties in law and finance. With the development of the Internet of Things, Ethereum can firmly enter the lives of ordinary users through smart contracts.
Analytics show that the Ethereum price will continue to grow further. In 2021, the ETH price can easily pass the $2.000 mark and continue its growth.
“When I came up with Ethereum, my first thought was, ‘OK, this thing is too good to be true.’ As it turned out, the core Ethereum idea was good – fundamentally, completely sound.” - Vitalik Buterin, co-founder of Ethereum.
”Make no mistake – Ethereum would never have existed without Bitcoin as a forerunner. That said, I think Ethereum is ahead of Bitcoin in many ways and represents the bleeding edge of digital currency.” - Fred Ehrsam, co-founder of Coinbase.
“Ethereum is enabling a new form of financing in ICOs that is like a massive gravitational pull - dragging every entrepreneur with a sense for opportunity into its blackhole-level gravity.“ - Gil Penchina, American business manager.
After all, many experts believe that the technology offered by Ethereum will not only change the Internet but will revolutionize businesses and industries that have existed for hundreds of years. Lots of them believe that this digital token will develop faster than Bitcoin and may even overtake it in terms of capitalization in the future. If the project team succeeds in realizing its plans, it will not only strengthen the position of Ethereum in the blockchain industry but also accelerate the expansion of digital money in the global financial system.
How To Buy Ethereum Coin on StealthEX?
If you are looking for where to buy Ethereum coin, we will show you how to buy Ethereum cryptocurrency for another crypto using the StealthEX exchange platform. It’s a super-friendly, non-custodial and limitless cryptocurrency exchange platform. So if you already have savings in crypto and wish to invest in ETH coin, just go to StealthEX and follow these easy steps:
- Choose the pair and the amount for your exchange. For example BTC to ETH.
- Provide the recipient address to which the coins will be transferred.
- Move your cryptocurrency for the exchange.
- Receive your ETH coins.