Ethereum (ETH) is a crypto-asset generated by the Ethereum platform, a public open-source blockchain-based computing platform and operating system. As with Bitcoin, ETH is used to compensate for computations performed during mining. Ethereum was proposed by Vitalik Buterin, a cryptocurrency researcher and cryptographer, in 2013, and implemented a year later. ETH is implemented in C++, Go and Rust programming languages, utilizes the Ethash hash algorithm and Proof-of-Work (PoW) consensus mechanism and supports Turing-complete smart contracts.
Ethereum enables Smart Contract and Distributed Applications (DApps) to be created and used without control or interference from a third party. In 2016, Ethereum diverged into two separate blockchains – Ethereum (ETH) and Ethereum Classic (ETC). With a market capitalization of $19.14 billion, ETH remains the second most popular cryptocurrency after Bitcoin, notably differing from it in a much faster transaction speed (10-15 seconds as opposed to 15 minutes for BTC).
Ethereum price prediction
The value of Ethereum (ETH) comes from the numerous ways it is used: to pay transaction fees inside Ethereum blockchain; as a payment option in many stores or service providers; as an entry gateway for decentralized exchanges (DEX), Ethereum-based tokens, DApps, etc.
Having peaked at $1 100 in January 2018, ETH has been recently hovering around $150. Ethereum price has been declining constantly without major ups, and this can sometimes lead to negative forecasts. Nevertheless, there are good reasons to believe that the price of ETH will recover soon.
The increase in the number of Ethereum adopters is predicted to strengthen its position on the market and increase its value. Besides, with the coming updates announced by Buterin this year, Ethereum is getting a lot of attention. The release of Ethereum 2.0 and major changes such as the transition to proof-of-stake consensus mechanism with more scalability and energy efficiency might lead to the recovery of a $1000 mark price. Read more…
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