ETH Price Live Data
Ethereum today's live price is $1,570.05 USD with a 24-hour trading volume of $9,086,411,393 USD. Ethereum has dropped by 4.08% in the last 24 hours. The current ranking is #2, with a live market cap of $192,132,730,658 USD, and a circulating supply of 122,373,866 ETH coins.
What Is Ethereum (ETH)?
Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts.
The Ethereum Foundation officially launched the blockchain on July 30, 2015, under the prototype codenamed “Frontier.” Since then, there has been several network updates — “Constantinople” on Feb. 28, 2019, “Istanbul” on Dec. 8, 2019, “Muir Glacier” on Jan. 2, 2020, “Berlin” on April 14, 2021, and most recently on Aug. 5, 2021, the “London” hard fork.
Ethereum’s own purported goal is to become a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime and fraud.
Who Are the Founders of Ethereum?
Ethereum has a total of eight co-founders — an unusually large number for a crypto project. They first met on June 7, 2014, in Zug, Switzerland.
Russian-Canadian Vitalik Buterin is perhaps the best known of the bunch. He authored the original white paper that first described Ethereum in 2013 and still works on improving the platform to this day. Prior to ETH, Buterin co-founded and wrote for the Bitcoin Magazine news website.British programmer Gavin Wood is arguably the second most important co-founder of ETH, as he coded the first technical implementation of Ethereum in the C++ programming language, proposed Ethereum’s native programming language Solidity and was the first chief technology officer of the Ethereum Foundation. Before Ethereum, Wood was a research scientist at Microsoft. Afterward, he moved on to establish the Web3 Foundation.
Among the other co-founders of Ethereum are: - Anthony Di Iorio, who underwrote the project during its early stage of development. - Charles Hoskinson, who played the principal role in establishing the Swiss-based Ethereum Foundation and its legal framework. - Mihai Alisie, who provided assistance in establishing the Ethereum Foundation. - Joseph Lubin, a Canadian entrepreneur, who, like Di Iorio, has helped fund Ethereum during its early days, and later founded an incubator for startups based on ETH called ConsenSys. - Amir Chetrit, who helped co-found Ethereum but stepped away from it early into the development.
What Makes Ethereum Unique?
Ethereum has pioneered the concept of a blockchain smart contract platform. Smart contracts are computer programs that automatically execute the actions necessary to fulfill an agreement between several parties on the internet. They were designed to reduce the need for trusted intermediates between contractors, thus reducing transaction costs while also increasing transaction reliability.
Ethereum’s principal innovation was designing a platform that allowed it to execute smart contracts using the blockchain, which further reinforces the already existing benefits of smart contract technology. Ethereum’s blockchain was designed, according to co-founder Gavin Wood, as a sort of “one computer for the entire planet,” theoretically able to make any program more robust, censorship-resistant and less prone to fraud by running it on a globally distributed network of public nodes.
In addition to smart contracts, Ethereum’s blockchain is able to host other cryptocurrencies, called “tokens,” through the use of its ERC-20 compatibility standard. In fact, this has been the most common use for the ETH platform so far: to date, more than 280,000 ERC-20-compliant tokens have been launched. Over 40 of these make the top-100 cryptocurrencies by market capitalization, for example, USDT, LINK and BNB. Since the emergence of Play2Earn games, there has been a substantial increase in interest in the ETH to PHP price.
What is Ethereum Name Service?
Ethereum Name Service, aka ENS, is a distributed and extensible naming system based on the Ethereum blockchain. It is essentially the Web3 version of DNS, short for domain name service.
ENS is based on two Ethereum smart contracts. The first is the ENS registry, which records three critical pieces of information: the owner of the domain, the resolver for the domain and the caching time for all records under the domain. The second smart contract is the Resolver, which translates the domain name to a machine-readable address and vice-versa.
It is worth adding that in addition to integrating with .eth names, ENS also supports the most popular DNS names, including .com, .org, .io, .app and several others.
Where Can You Buy Ethereum (ETH)?
Given the fact that Ethereum is the second-largest cryptocurrency after Bitcoin, it is possible to buy Ethereum, or use ETH trading pairs on nearly all of the major crypto exchanges.