The first currency trading commenced in 30 July 2015 , and up to the present day, Ethereum (ETH) is traded on 169 exchanges, including BTCC, Biconomy, DIFX, Tapbit and others. The maximum trading volume is observed for the trading pair ETH/USDT and reaches 7.3 bln. dollars (75% of the total volume across all exchanges). During the week, the minimum price for Ethereum (ETH) is fixed on Saturday at 1,862.95 dollars. Currently, the token Ethereum is trading in the range of 1,896.76 dollars or 149,351.18 rubles for 1 ETH.
16648 107
Ethereum: How does it work
Ethereum stands out as the second most popular cryptocurrency, distinguished primarily by its ability to rapidly create smart contracts. While Bitcoin serves as a convenient means of storing and transferring funds, Ethereum expands the spectrum of financial actions significantly.
Smart Contracts: Redefining Digital Agreements
Smart contracts, integral to Ethereum, represent pieces of code embedded within the blockchain. These contracts outline conditions for execution, automatically triggering transactions upon fulfillment. Unlike traditional legal agreements where the judiciary system ensures compliance, smart contracts operate digitally within Ethereum's system, guaranteeing execution through computer programs and a rigorous mathematical framework.
Illustrating Smart Contracts
Consider the scenario of Vasya raising funds on Kickstarter for a "Back to the Future" hoverboard project. Through traditional crowdfunding, contributors send money, trusting Kickstarter to either transfer funds to the project creators upon meeting the goal or return funds if the goal isn't met. This reliance on a third-party platform introduces trust concerns.
With Ethereum's smart contracts, Vasya can code the conditions directly. When the conditions are met, the contract executes, either transferring funds to Vasya or returning them to the contributors. This automation eliminates the need for intermediaries and enhances trust within transactions.
Project Essentials
Project Essence: Ethereum serves as a decentralized platform enabling the creation and execution of smart contracts, revolutionizing digital agreements and financial transactions.
Mission: Ethereum aims to decentralize traditional financial systems, offering a trustless and transparent platform for executing various financial actions through smart contracts.
Token Role: The native cryptocurrency, Ether (ETH), fuels transactions and smart contract executions within the Ethereum network.
Tokenomics: Ether operates as both a digital currency and a utility token, essential for interacting with decentralized applications (dApps) and executing smart contracts on the Ethereum network.
Team: Founded by Vitalik Buterin in 2013, Ethereum boasts a diverse team of developers, researchers, and contributors dedicated to advancing blockchain technology and decentralized finance (DeFi).
Investors/Partners: Ethereum has garnered support from a wide array of investors, including both individual backers and institutional players, along with strategic partnerships with various blockchain projects and tech firms.
IDO (Initial DEX Offering): Ethereum's launch involved a token sale conducted through an Initial Coin Offering (ICO), which subsequently evolved into decentralized fundraising mechanisms like Initial DEX Offerings (IDOs) facilitated through decentralized exchanges (DEXs).
By embracing Ethereum's capabilities, individuals and businesses can access a new paradigm of financial autonomy and efficiency, empowered by smart contracts and decentralized protocols.
