Ethereum Price

Ethereum ETH

Ethereum Price

$1,665.98
+2.15%
24h High$1,672.68
24h Low$1,588.57
Market Cap$199,833,589,341
24h Volume$14,646,231,152-9.48%
Circulating Supply
119,968,324 ETH
Total Supply119,967,667
Max SupplyN/A

Token Address

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Source Code

Whitepaper

Ethereum Chart

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Ethereum Price

$1,665.98
+2.15%
24H Low$1,588.57
24H High$1,672.68

Trading on ARKEN

What is Ethereum (ETH) ?

Ethereum is a blockchain-based software platform that is primarily used to support Bitcoin, the world's second-largest cryptocurrency by market value. Ethereum, like other cryptocurrencies, may be used to transmit and receive money internationally and without a third party observing or intervening unexpectedly. In terms of market capitalisation, Ethereum is the second-largest blockchain-cryptocurrency platform behind Bitcoin, with Ethereum price coming in as a second-highest after Bitcoin as well. It was founded in 2015 by Vitalik Buterin, who was 19 years old at the time.

This network also creates money known as Ether (ETH), which is analogous to digital currencies such as Bitcoin. Despite the fact that ETH is traded on exchanges, Ethereum, unlike Bitcoin, which was designed as a decentralized person-to-person payment system, has very different aims. Ethereum exemplifies the blockchain's enormous potential for commercial development. In 2021, ETH launched its updated version of their platform which is called "ETH 2.0".

Ethereum Price

As mentioned earlier, Ethereum price is ranked as the second-highest in all of the cryptocurrencies, just behind Bitcoin. Ethereum price as of 28 July 2021 is $2,294. You can also invest in Binance-Pegged ETH and update for real-time Binance-Pegged ETH price today at ARKEN.

Ethereum's Capabilities

Users of conventional, centralized systems and procedures confront a number of difficulties and hazards, including censorship, espionage, excessive prices, a lack of transparency, and so on. To address these issues, there has been a steady trend toward distributed infrastructures and open-source protocols. Currently, Ethereum is being used to build the majority of these solutions and toolkits, particularly in Decentralized Finance (DeFi).

Unlike most other blockchain systems, Ethereum is also a Turing Complete programming language, which means that it can solve any computation issue given enough resources. This opens up a world of possibilities for both developers and consumers. The platform makes use of the Solidity programming language, which is well recognized for its ability to facilitate smart contracts. Because of the language's simplicity, developers can easily construct smart contracts and launch new start-ups. Simultaneously, the platform's simplicity offers entrepreneurs without extensive technical knowledge with an environment in which to build a decentralized application. All of this makes ETH worth even more and can be utilized for various industries and the ETH value is then getting strengthened as it is being used more.

Distributed Applications and Smart Contracts

Smart contracts are codeblocks that allow developers to create automated processes that can run without the assistance or governance of a third party. Smart contracts, in other words, perform a predetermined action based on predefined criteria. In theory, smart contracts can manage any activity, from delivering monthly payments on a specific date to setting insurance premiums depending on age group.

Developers may create decentralized apps (DApps) utilizing smart contracts and other features of Ethereum's open-source technology. Despite some similarities, these programs are a more developed version of their more centralized predecessors, such as standard social media apps, banking software, and so on. DApps, as opposed to centralized servers, run on globally distributed blockchain networks, in this example, Ethereum. Similarly, distributed storage is used for both app and user data.

Ethereum Tokenomics – The ERC20 Protocol

This part of the article talks about ETH tokenomics. Aside from DApps, ETH crypto users may build their own crypto assets, tokens, which can be stored and used for transactions, among other things. In doing so, it adheres to a technical standard or set of principles, known as ERC-20, and hence Ethereum tokens are usually referred to as ERC-20 tokens. Anyone may develop ERC-20 tokens for their blockchain apps since Ethereum is permissionless. Developers must still have the necessary technical skills, but Ethereum's open-source code makes the process considerably easier than creating tokens from scratch.

These tokens may be utilized as the native assets of blockchain-cryptocurrency ecosystems by utilizing smart contracts to specify their terms and conditions. In reality, ERC-20 tokens are a key facilitator of blockchain interoperability since they may be utilized in operations hosted outside of ETH crypto. Despite being based on the RSK blockchain, the RIF ecosystem employs certain ERC-20 tokens.

Binance-Pegged ETH

Binance-Pegged ETH is an ETH token which is utilized and has its own distinctive address on the Binance Smart Chain network. Binance-Pegged ETH is 100% backed by ETH in reserve and hence, has total backup value same as native ETH token. The primary goal of these tokens is to enable trade of assets in DEX, which is presently not possible owing to their distinct blockchains. This adds BTC, ETH, USDT, LTC, XRP, LINK, ATOM, DOT, XTZ, ONT, and other digital assets to the Binance Chain ecosystem.

ETH token address (BSC): 0x2170ed0880ac9a755fd29b2688956bd959f933f8
ETH token address (ETH): 0x0000000000000000000000000000000000000000

Ether is Ethereum's fuel.

Aside from the aforementioned capabilities, ETH crypto also includes all of the features of a standard cryptocurrency. The platform's primary cryptocurrency is called Ether (ETH), and it has a total supply of about 112 million as of August 2020.

To protect the network from useless transactions, Ethereum imposes a "gas" fee on each transaction. Gas is also a measure of the computing power required, which users must pay for using Ether. In other words, Ether is used to pay the transaction fee for Ethereum. It is also the source of power for Ethereum-based DApps.

Miners that produce new blocks on Ethereum, on the other hand, earn their block rewards in Ether. End users, like any other cryptocurrency, may purchase, sell, store, and exchange Ether (ETH).

To learn more about ETH, here is its Whitepaper.

Ethereum Price

Why Should You Buy Ethereum?

The Advantages of ETH

When combined with smart-contract-enabled intermediary removal, this offers numerous advantages:

Censorship and Interference Resistance: In the absence of centralized administration, these dispersed ecosystems are resistant to censorship. No one entity may tamper with or monitor the processes of a dApp, reducing the danger of manipulation.

Control of the Users: Users have ownership over their personal data kept or transacted inside the Ethereum ecosystem, according to the foundations of blockchain technology. Because data is spread among numerous computers rather than being kept in a centralized server, these Ethereum-based solutions have low downtime.

In-built Compliance: These systems have in-built compliance and are practically tamper-proof since the parameters of an agreement are codified into smart contracts.

However, cryptocurrencies aren't the only digital assets that can be generated on Ethereum; recently, NFTs, or non-fungible tokens, have been developed, which are powered by Ethereum and are used to represent ownership of unique objects, according to Ethereum's website.

Ethereum Use Case

Ethereum Applications

The Ethereum blockchain's primary use case today is a value exchange, which is frequently accomplished using the blockchain's native token, ether. However, many developers are working on the cryptocurrency because of its long-term potential and the inventors' lofty aim of using Ethereum to offer people more control over their financial and internet data. The grandiose notion – which has led to Ethereum being referred to as the “world computer” – has its detractors, who believe it will most likely fail. However, if this experiment goes as intended, it will produce applications that are quite different from those created by Facebook and Google, which consumers consciously or unwittingly trust with their data.

Ethereum, like other prominent cryptocurrencies, was created on the ideas of decentralized finance, since the products and services that exist on Ethereum are accessible to anybody with an internet connection. Smart contracts enable developers to create decentralized apps that can fulfill a variety of objectives. Financial tools like cryptocurrency exchanges, decentralized lending platforms, and data services such as Matcha, which searches several cryptocurrency exchanges for the lowest pricing, are examples of these applications. However, there are other types of dapps, such as those for purchasing and selling digital artwork, gaming, and developer technologies.

Because Ethereum is open source, developers may create completely new cryptocurrencies on top of it, such as Chainlink and XRP, which are known as tokens. Some of these assets are cryptocurrencies you may have heard of, such as Tether (USDT), Uniswap (UNI), and USD Coin (USDC).

Binance-Pegged ETH provides for liquidity, farming, lending, vaults, and/or HODL of the pegged-ETH on the Binance smart chain. Own your ETH-pegged token today, invest with us.

Team & Organization
Founders
  • Vitalik Buterin
  • Gavin Wood

Twitter Update

Historical Data for Ethereum Price

Date
Open
HighLow
Close
VolumeMarket Cap
Aug 3, 2022$1,658.09$1,658.09$1,598.20$1,601.84$15,548,536,682$194,280,005,714
Aug 2, 2022$1,646.07$1,669.89$1,599.44$1,669.89$19,414,686,138$197,496,591,505
Aug 1, 2022$1,623.40$1,670.89$1,574.01$1,650.07$15,515,408,282$195,962,280,445
Jul 31, 2022$1,719.41$1,720.94$1,622.52$1,622.52$12,894,604,186$201,684,547,325
Jul 30, 2022$1,708.20$1,718.60$1,693.67$1,699.34$14,236,780,342$203,433,082,401
Jul 29, 2022$1,722.88$1,740.67$1,689.01$1,727.18$21,792,598,232$210,767,555,013
Jul 28, 2022$1,724.40$1,759.50$1,669.15$1,725.50$27,508,245,872$206,347,207,632
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