Ethereum (ETH) current price is $268.27.

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Ethereum (ETH) current price is $268.27 with a marketcap of $28.47 B. Its price is 8.32% up in last 24 hours.

  • ethereum
    Ethereum (ETH)
  • Live Price
  • 24h %
  • Market Cap
    $28.47 B
  • Volume
    $11.80 B
  • Available Supply
    106.24 M ETH
  • Rank

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To understand Ethereum you need to go back to the very beginning of the cryptocurrency and understand its connections to bitcoin. As the second most commonly used cryptocurrency, it has risen to a market capitalization of more than $100 billion. Though bitcoin has managed to be seen in most of the media headlines, it is Ethereum that quite frankly is simply a more interesting type of cryptocurrency.

We have to distinguish between the cryptocurrency itself, Ether, and the software that runs it, Ethereum.

When bitcoin first starting making headlines, there was someone who made a white paper available to the public that discussed the possibility of a computer system that would conduct peer-to-peer monetary transactions on a decentralized network.

Each computer on the system would record and retain a list of all the system transactions. These lists would be verified and shared, so everyone who was conducting transactions would have a copy of an encrypted accounting ledger.

This system would soon come to be the blockchain ledger that is being modified and used in financial transactions around the world, even in non-cryptocurrency transactions.

In 2013, another white paper was published that was by a real person, Vitalik Buterin, who expanded the possibilities of the blockchain technology to include not only a decentralized computer system, but decentralized software applications.

To do this, he made Ethereum a programming language of sorts, where people who used the decentralized applications would be able to specifically communicate and execute the conditions of the transactions. These transactions would become known in the financial industry as smart contracts.

What cannot be overlooked in this exciting technology is it requires some significant computing power to make all this happen across the decentralized network.

That power comes from an open, distributed network where the transactions are verified and recorded as above but connected to an Ether token which has a value of around $300. The acquisition of the Ether tokens is what is used to pay for the computing power the distributed network is using to make the blockchain technology viable.

All of these parts make Ethereum the first computer system in the world that is shared globally. This has drawn a significant amount of positive attention to Ethereum, though critics have claimed that the technology is too early in its development to be trusted with handling large volumes of financial transactions of the world’s largest banks and financial institutions. But as with everything, time will confirm the viability of such a system.

What separates bitcoin from Ethereum is while bitcoin is renowned for being the premier cryptocurrency, it is the technological potential of Ethereum that has a wide range of people excited about its future.

Any independent programmer can use the technology to create their own application, making it an ideal way to perform transactions over a public blockchain network within a completely decentralized network.

This excitement about blockchain technology is warranted because it keeps the transaction information between the two parties private, eliminating any security concerns present on a centralized computer network.

It also empowers the individual people conducting the transactions as there is no middle system to navigate through, as is the case for the major international currency exchanges. Ethereum allows individuals to manage complex financial transactions, and it is this reason many people see Ethereum more as a platform for developing applications than a cryptocurrency.

An Ethereum Virtual Machine has been created that allows any application to be run on it without modification. The key to the machine’s flexibility lies in the fact that blockchains are automatically created, providing a level of security and privacy unavailable of current centralized networks.

What many people new to Ethereum overlook is that something as basic as someone’s personal information is secured on the system because of the blockchain technology. This opens the door for Ethereum to be used beyond its current financial industry applications. This security also allows people to exchange information and keep it away from the prying eyes of governments.

Though trading in cryptocurrencies is the primary use of Ethereum today, its application for small and large businesses is considerable. Employees can be paid using Ethereum without being concerned with their personal data being compromised.

Business can create contracts for specific jobs with individual contractors or large companies, all using the power of Ethereum. The creation of an audit trail for both parties in the smart contract provides the level of accountability needed for accounting and financial purposes.

Two main hurdles exist for the global acceptance of the Ethereum development. The first is that it needs to be recognized more as an application platform than a cryptocurrency. For investors and advocates of cryptocurrencies, the Ether certainly has an attractive value due to its price stability but the cryptocurrency itself lags far behind bitcoin.

Second, its major features – privacy, security, decentralization, blockchain technology – need to be touted as a better alternative to existing network systems because of its cost effectiveness.

Finally, the technology may have a marketing problem since Ethereum is hardly a household name. Few in the general public are aware of what Ethereum is, but they have heard of cryptocurrencies and bitcoin. Ethereum’s strength is with its application platform’s potential, not the value of its currency. This may not be fair, but it is a clear reality.

Pros & Cons

Solid teamEthereum is a centrilized blockchain
You can build apps on itThey have a lot of competitors
It's fast, secure and reliableRequires GAS to complete transactions
Low fees
Can execute smart contracts

BCrypto Investment Tip

Ethereum is the second largest cryptocurrency and is thought by many people that it will overtake Bitcoin in the future. I do not think so. Ethereum's popularity mainly comes from its use by ICOs and other cryptocurrencies if this goes away so does Ethereum, and this is why Ethereym price has droped so much from its ATH. I do believe it still has room to grow but there are better coins out there.

Performance 4/10Use Case 6/10Adoption 3/10Decantralization 4/10

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