Ethereum  [ETH]

Description

Ethereum is an open-source, decentralized and distributed computing platform proposed by Vitalik Buterin in 2013. The Ethereum platform launched in 2015 after crowdfunding 11.9 million pre-mined coins comprising about 13% of the total circulating supply of Ether (ETH), its native cryptocurrency. The Ethereum blockchain supports smart contracts and Distributed Applications called DApps. Ethereum is built on a Proof of Work (POW) algorithm supporting peer-to-peer transactions, smart contracts, and Decentralized Applications (DApps). Miners are rewarded in Ether for solving cryptographic problems, confirming transactions and creating new Ether. Transactions cost “gas”, an internal pricing mechanism to deter unnecessary transactions from clogging blockspace on the Ethereum blockchain. Like Bitcoin, Ethereum uses a blockchain as a publically available record shared through a distributed ledger. Ethereum can process about 15 transactions per second (TPS). In 2016, developers forked the Ethereum blockchain, separating the new blockchain as Ethereum (ETH), its older code became Ethereum Classic (ETC).

Latest Ethereum Market Activity

Ethereum gained significant ground over the last 24 hours, with its price now at $9000. The bulls were out, bringing ETH closer to it's 52-week high of $9002.00. Volume in ETH was very strong, with Binace reporting the highest volume of $2,442,022.

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