Blockchain Ethereum and cryptocurrency Ether
Ethereum is simultaneously called a platform for the operation of smart contracts and a coin for settlements. What is the difference between these concepts?
Due to these features, this blockchain is considered more efficient for decentralized finance (DeFi) use. There is an opinion that in the near future, Ethereum will overtake Bitcoin in terms of capitalization. That is, it will become the #1 cryptocurrency.
The creator of Ethereum is Vitalik Buterin, who published the concept of the system in 2013. The blockchain launch date is June 30, 2015.
An important difference between Ethereum and Bitcoin and its analogues is the initial adaptation for integration into other projects. It provides convenient tools for developing your own applications. That is, the ether coin – the cryptocurrency itself – was supposed to be used as a means of payment within the project.
Since its inception, the Ethereum exchange rate has been constantly growing due to increased interest in it from developers. Moreover, new opportunities are used not only by startups, but also by large software development corporations (for example, Microsoft). In addition, financial institutions (for example, Sberbank) have an interest in ether.
The Ethereum blockchain should not be confused with the coin itself – ether or Ether. On the international currency market, this virtual money is represented under the ticker ETH. The difference from other altcoins is that the authors of the blockchain themselves propose to use the coin not as an analogue of money, but as a way to manage assets through smart contracts. They even called their coin “fuel”, as it is necessary for the smart contract to work.
Now Ethereum is available for free exchange, and can also be used for crypto-investment. You can buy a coin on centralized and decentralized exchanges. Due to the high volatility of crypto assets, the value against the dollar and other fiat currencies is constantly changing.
At the time of preparation of this material (beginning of January 2022), the exchange rate against USD was 3209 dollars per 1 ETH. Capitalization is 383 billion dollars. The crypto is firmly in second place in the world ranking and is not going to give up its positions.
Due to the events in Kazakhstan and the general negative sentiment in the economy, there has been a downward trend in Ethereum lately. However, such situations have already happened and the crypt is likely to turn in the “bullish” direction.