Ethereum price, charts.

IconEthereum icon
SymbolETH
CurrencyEthereum
Price184.32
Change 1h-0.39%
Change 24h0.16%
Change 1w1.62%
24 Hours Low/High183.15 / 188.39
Circulating Supply103 454 469 ETH
Maximun Supply0 ETH
Updated atOct 15, 2019, 3:52:37 PM
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Ethereum 101: What You Need to Know About Ethereum

To best understand Ethereum and how it works, it is essential to know the brain behind it and what makes it separate from other standard projects. However, before we dive into details, let me introduce Ethereum a bit. Ethereum (referred to as ETH, Ether) is a decentralized system that is not under the control of any single government. When something is new, it always looks unbelievable to people until it hit the mainstream. Most especially when it is technology, people will think it is only for those that are technologically geek.

Unlike cryptocurrency, other online businesses and services are built on a centralized system, which means a single body control. These types of systems are vulnerable to hackers’ attacks and have a single point of failure. Nowadays, many people have adopted the blockchain technology since it ready to take some power away from government and hand it to people.

Ethereum has a cryptocurrency token that is called “ether”. As an open-source and blockchain-based platform, Ethereum provides a decentralized Turing-complete Etherium Virtual Machine (VM), a Virtual machine which can execute scripts utilizing an international network of public nodes. Ethereum can be transferred from one account to another, and for rewarding participant nodes for computation performance. Gas is the pricing technique used to allocate resources and mitigate spam on the network.

Brief History of Ethereum

In late 2013, a cryptocurrency researcher and programmer called Vitalik Buterin who was involved in Bitcoin Magazine came up with an idea of scripting language for Bitcoin application development, but his opinion was not accepted. After that, he came up with a plan to develop a new system that has more scripting language.

During that period, it was made known that Vitalik Buterin describe the idea of Ethereum in a white paper which was sent to a few friends who after that sent it to others. However, about 30 persons met with him to discuss his new concept. What Vitalik was expecting from people was not what he heard, he was expecting critique, but people appreciated his idea.

In January 2014, Buterin’s Ethereum software project was announced publicly, and the formal development began in the same year through a Swiss company and with the core team consisting of Mihai Alisie, Charles Hoskinson, Anthony Di Iorio, Gavin Wood, Joe Lubin and himself. As part of their moves, Vitalik presented his project on stage in Miami at a Bitcoin conference, and after some months they decided to organize a public crowdsale of Ether to fund the development. – Ether is the token used for the ecosystem.

From July to August 2014, the online crowdsale was conducted to raise enough funds for the development of the project. On 30 July 2015, the project went launched with 11.9 million eth coins for the public crowdsale. - This is about 13% of the total supply. The advent of Ethereum was a great one, and people liked it, but they contemplate about its scalability and security.

Meaning of Ethereum and it works

Ethereum is a software program that functions as a decentralized internet and app store. It was the first digital currency to use an ICO (Initial Coin Offering) technique to raise fund for its project. ‘Ether’ is the name of the coin used in this platform, which enables users of the network to pay for the computational resources needed to run the application. Ether is a digital currency that does not demand a third party to facilitate a financial transaction. However, a transaction fee is needed to change anything in Ethereum application; these fees are calculated automatically based on the requirement of the “gas” used.

Ethereum was built on Bitcoin’s protocol and designed based on blockchain technology but was fine-tuned to be supported by the application that is beyond money systems. The only thing that these two blockchain technologies have in common is that; they both save entire transaction histories. However, Ethereum Blockchain does more than that. There is a need for downloading the most recent state, or information of every smart contract within the system, the balance, all the smart contract code as well as where it is stored.

Every Ethereum’s state has millions of transactions, these transactions are grouped to form blocks, and all blocks are chained together with the previous ones. However, to add a transaction to the ledger, there is a need for validation that goes through a mining process.

How to Acquire Ether and how it can be Stored

Ether can be acquired in two significant ways; which are through mining or you buy it. However, buying on an exchange is the most common way to get Ether. To do this, you will use fiat (Traditional money) to buy on the exchange that trades in Ether within your region. Firstly you have to set up an account with them (exchange) and use either your bank account or wire transfer to buy the Ether token. You can get Ether from exchanges like; Coinbase, Bittrex, Gemini, Poloniex, and others.

Ether token is stored in a wallet that is provided by the exchange. Moreover, you can open an ether wallet account on “myetherwallet.com” to store your token. When opening an account on Myetherwallet, a private key would be given, ensured you copy and keep it in a safe place because that can be used to hijack the account. Besides, ether can be acquired through a peer-peer trading, where you pay for it with another agreed cryptocurrency like Bitcoin, and other alter coin.

Conclusively, Ethereum can be used for any centralized system that wishes to be decentralized. Nowadays, it allows developers to build trusted decentralized applications. It has also completely changed the relationship between companies and their audiences. It has as well eliminated the charges and commission fees of some service providers and escrow. Its blockchain technology allows customers to easily trace the origins of the product they are buying, and the use of the smart contract allows safe and swift trading without the need for an intermediary. The future of money is digital currencies, and I believe they are going to change the financial system and the world.

Technical analysis

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Ethereum Chart

Ethereum Exchange

#MarketCurrency pairPriceVolume 24h
1LBankETH / USDT$183.74$236 694 057
2BiboxETH / USDT$183.53$88 915 716
3BiboxETH / BTC$183.63$85 467 268
4BiboxLTC / ETH$188.59$84 410 941
5LBankETH / BTC$183.74$78 434 459
6Huobi.proETH / USDT$183.39$67 996 699
7CoinBeneETH / USDT$183.65$66 148 036
8BinanceETH / USDT$183.62$60 907 149
9CoinBeneETH / BTC$183.68$58 389 134
10HitBTCETH / USD$182.54$39 308 442
11BiboxXRP / ETH$184.20$32 525 779
12Zb.comETH / USDT$183.61$29 063 018
13BinanceETH / BTC$183.63$24 160 839
14BiboxEOS / ETH$183.87$22 678 331
15BiboxETC / ETH$184.48$20 812 479
16LBankZEC / ETH$184.13$20 766 667
17BiboxBCH / ETH$183.60$20 145 563
18GdaxETH / USD$183.24$12 897 053
19HitBTCETH / BTC$183.82$11 157 407
20BiboxNEO / ETH$183.74$10 084 690
Showing 1-20 of 2,252 items.

Similar Cryptocurrencies by capacity

IconSymbolCurrencyMarket capacityVolume 24h
Bitcoin iconBTCBitcoin$144 796 916 423$2 474 220 255
Dotcoin iconDOTDotcoin$32 359 237 111$2 085 669
Ethereum iconETHEthereum$19 068 750 472$1 205 312 344
XRP iconXRPXRP$11 711 393 135$332 076 783
Bitcoin Cash iconBCHBitcoin Cash$3 911 616 893$97 384 413
Litecoin iconLTCLitecoin$3 330 244 456$164 338 882
EOS iconEOSEOS$2 828 867 908$402 367 936
Binance Coin iconBNBBinance Coin$2 436 046 466$77 680 399
Dropil iconDROPDropil$1 902 013 422$0

Similar Cryptocurrencies by volume

IconSymbolCurrencyMarket capacityVolume 24h
Tether iconUSDTTether$1 864 875 839$2 948 936 618
Bitcoin iconBTCBitcoin$144 796 916 423$2 474 220 255
Ethereum iconETHEthereum$19 068 750 472$1 205 312 344
EOS iconEOSEOS$2 828 867 908$402 367 936
XRP iconXRPXRP$11 711 393 135$332 076 783
BCHABC$0$173 872 336
ZBZB$0$166 238 008
Litecoin iconLTCLitecoin$3 330 244 456$164 338 882
Ethereum Classic iconETCEthereum Classic$493 198 679$98 945 714