Ethereum is the second most popular cryptocurrency coin being traded in the world. It is an open-source and decentralized blockchain system providing its own crypto coin i.e. Ether (ETH). This platform works for various other cryptocurrencies as a platform for executing decentralized smart contracts.
The foundation of Ethereum was officially its blockchain on 30th July, 2015. The main objective of this foundation is to provide a decentralized platform to the users for running software which can be resistant to censorship, fraud, and downtime.
The Tokenomics of the crypto coin Ether are:
Total Supply - 120,281,580 ETH coins
Maximum Supply - No limit
Current Price - $2,599.08
In the first ever block, 72 million ETH coins were issued out of which 60 million ETH coins were given to the initial contributors and 12 million were allocated to the development fund.
The potential of Ethereum coin as of 2024 is that it will provide an ROI of 5.5% to the investors. It is expected to increase in price which will eventually offer a profit to those who have been holding it.
If we talk about the future of cryptocurrency, there are various factors pointing towards the acceptance and increased use of this digital currency. Since cryptocurrency is based on blockchain technology, a decentralized and secure platform, it is estimated that the future of cryptocurrency is bright.
Meaning, government agencies and authorities will also start and allow it to be used as a mode of payment.
Ethereum, being the second largest and popularly known crypto coin, has a few similarities but is technologically a bit different than Bitcoin.
Knowing Bitcoin is the most widely known crypto coin, here is a brief comparison between the two.
Since there is Proof of Work in Bitcoin, miners need to solve complex cryptographic puzzles to verify the transactions. However, in Ethereum, Proof of Stake is the mechanism used with an aim to enhance the scalability, energy efficiency, and security.
Ethereum produces a new block every 12 seconds whereas Bitcoin’s network produces a new block in about 10 minutes.
For security reasons, Bitcoin’s scripting language has a limit of making simple transactions. But for Ethereum, it is built as a programmable blockchain that allows users to create complex smart contracts and decentralized apps.
There is a limit of about 21 million BTC coins that can be supplied but there is no limit to the supply of ETH coins.
Few of the cryptocurrency exchanges listing Ethereum coin are:
Binance - Operating the largest cryptocurrency exchange is Binance Holdings Ltd.
KuCoin - Safe and secure crypto exchange platform with the option to trade, sell, and buy various cryptocurrencies.
OKX - Second largest cryptocurrency exchange platform by trading volume which has become a global cryptocurrency spot.
Gemini - This is an American crypto exchange and custodian bank that provides security and crypto credit cards with solid cryptocurrency list.
