Ethereum is a decentralized software platform that uses blockchain technology. It is commonly referred to as its native cryptocurrency, Ether or Ethereum crypto. Anyone can access and utilize secure digital technology using Ethereum. It has its ETH crypto token, which can be used to pay for any work done supporting the blockchain. Participants can also use it to purchase services and tangible goods or exchange it for fiat money. Developers often use the ETH asset to create innovative and secure technology that can positively impact people's daily lives. Ethereum is a fascinating blockchain platform for creating applications that can be used to improve the way various industries operate. It supports smart contracts, which are an integral part of decentralized applications that can be used in information technology and finance.
Conceived by Vitalik Buterin and co-founded with Joe Lubin, Ethereum was introduced in a 2014 whitepaper and launched in 2015. Unlike Bitcoin, Ethereum was designed from the outset with flexibility and scalability in mind, making it an ideal platform for various decentralized applications (dApps).
This proof-of-stake system employs sophisticated algorithms to achieve network consensus and secure transactions. Validators stake 32 ETH to participate, creating and verifying blocks in a decentralized manner. Misbehavior is deterred through penalties, effectively maintaining network integrity.
Ether ownership is represented through digital wallets, which contain private keys rather than storing the currency itself. These keys are critical for initiating transactions on the Ethereum network.
Ethereum's smart contracts enable DAOs, offering transparent and democratic decision-making in decentralized networks.
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Meanwhile, VanEck updated their prospectus for $ETH futures ETF which is expected to launch on Monday!👀
Overall, things are slowly but surely moving in the right direction. Use this time to accumulate more, "up only season" is most likely only weeks away😉
P.S. Up only season is only a meme, remember that crypto is always volatile📈📉
As of Thursday morning, $BTC traded above $26,300, briefly having surpassed the $26,800 mark the prior evening. Despite the bullish momentum, the cryptocurrency still shows a 2.87% decline on a weekly basis. Similarly, $ETH approached a high of $1,631.91 before settling around the $1,600 resistance level.
We stay optimistic about the cryptomarkets. It's been a steep correction for alts in a bullmarket and a new upleg seems on its way. We continue not to trade and are happy to sit on our hands. Long $BTC $ETH $INJ $LINK
As Bitcoin and Ether grapple with substantial losses, falling below pivotal support levels, the market remains on high alert regarding FTX's impending liquidation of a vast crypto holding, a move that could further dent the already strained altcoin values. The unfolding scenario raises alarms of a significant liquidity gap in the market, potentially hitting altcoins hard due to unfavorable tokenomics.
$BTC did bounce back to its level from last week and is currently trading for $25,800.93, while $ETH bounced back to $1,579.65.
