Ethereum Price | ETH Price Index and Live Chart - CoinDesk

Ethereum is a blockchain-based software platform that can be used for sending and receiving value globally with its native cryptocurrency, ether, without any ... EthereumETHTwittericonFacebookiconLinkediniconBuy/SelleToroSponsoredJoineToro-asimpleandsecurecryptoappOwn30+cryptoassetsonaneasy-to-useplatform,andshareintheknowledgeof25m+users.CryptoassetsareunregulatedinsomeEUcountriesandtheUK.Noconsumerprotection.Taxonprofitsmayapply.eToroUSALLC;Investmentsaresubjecttomarketrisk,includingthepossiblelossofprincipal.SoFiSponsoredEarnupto$1,000whenyoufundanewaccount,andearnupto$100inBitcoinwithyourfirstqualifyingcryptotrade(Seeterms).SoFiCryptoisofferedthroughSoFiDigitalAssets,LLC.Bitcoinandothercryptocurrenciesaren’tendorsedorguaranteedbyanygovernment,arevolatile,involveahighdegreeofrisk,andareunsuitableformostinvestors.FormoreinformationondigitalassetriskseeFINRA,SEC,andCFPBpublicadvisories.SoFiwillapplyamarkupofupto1.25%foreachcryptotransaction.Formoreinformation,visitwww.SoFi.com/crypto.$1,303.9524H%1.96%24HLow$1,278.6224HHigh$1,314.62Buy/SelleToroSponsoredJoineToro-asimpleandsecurecryptoappOwn30+cryptoassetsonaneasy-to-useplatform,andshareintheknowledgeof25m+users.CryptoassetsareunregulatedinsomeEUcountriesandtheUK.Noconsumerprotection.Taxonprofitsmayapply.eToroUSALLC;Investmentsaresubjecttomarketrisk,includingthepossiblelossofprincipal.SoFiSponsoredEarnupto$1,000whenyoufundanewaccount,andearnupto$100inBitcoinwithyourfirstqualifyingcryptotrade(Seeterms).SoFiCryptoisofferedthroughSoFiDigitalAssets,LLC.Bitcoinandothercryptocurrenciesaren’tendorsedorguaranteedbyanygovernment,arevolatile,involveahighdegreeofrisk,andareunsuitableformostinvestors.FormoreinformationondigitalassetriskseeFINRA,SEC,andCFPBpublicadvisories.SoFiwillapplyamarkupofupto1.25%foreachcryptotransaction.Formoreinformation,visitwww.SoFi.com/crypto.24HLow$1,278.6224HHigh$1,314.621h4h1d1w1M1yallTOClosevsOHLCchartswitchLinearLinearvsLogchartswitchLogAboutEthereumSectorSmartContractPlatformIndustryGroupSingleChainIndustrySingleChainTheEthereumpriceis$1,303.95,achangeof1.96%overthepast24hoursasof12:59a.m.TherecentpriceactioninEthereumleftthetokensmarketcapitalizationat$156,091,384,544.99.Sofarthisyear,Ethereumhasachangeof-64.57%.EthereumisclassifiedasaSmartContractPlatformunderCoinDesksDigitalAssetClassificationStandard(DACS).Ethereumisablockchain-basedsoftwareplatformthatcanbeusedforsendingandreceivingvaluegloballywithitsnativecryptocurrency,ether,withoutanythird-partyinterference.Butitcanalsodomuchmorethanthat.Firstproposedin2013byRussian-CanadiancomputerprogrammerVitalikButerin,Ethereumwasdesignedtoexpandtheutilityofcryptocurrenciesbyallowingdeveloperstocreatetheirownspecialapplications.Unliketraditionalapps,theseEthereum-basedapplications,called“decentralizedapplications,”ordapps,areself-executingthankstotheuseofsmartcontracts.Smartcontractsarecode-basedprogramsthatarestoredontheEthereumblockchainandautomaticallycarryoutcertainfunctionswhenpredeterminedconditionsaremet.Thatcanbeanythingfromsendingatransactionwhenacertaineventtakesplaceorloaningfundsoncecollateralisdepositedintoadesignatedwallet.ThesmartcontractsformthebasisofalldappsbuiltonEthereum,aswellasallotherdappscreatedacrossotherblockchainplatforms.EtherpriceInAugust2014,Ethereumlauncheditsnativetoken,ether,throughaninitialcoinoffering(ICO).Some50millionETHsweresoldatapriceof$0.31percoin,raisingover$16millionfortheproject.Unlikemanyothercryptocurrencies,Ethereum’scryptocurrencyhasanunboundedsupply,meaningthereisnolimittohowmanyethercanentercirculation.Accordingtotheproject’sofficialwebsite,theannualinflationrateofetherisabout4.5%.BlockrewardshavebeenreducedtwotimessincethefirsteverEthereumblockwasmined.Thatblockisknownasthegenesisblock.Thereductionsinblockrewardsaren’tprogrammedintoEthereum’scodelikeBitcoin’shalvingeventsare.Instead,membersofthecommunityproposechanges,called“EthereumImprovementProposals,”orEIPs,andtherestofthecommunityvotesonwhethertoincludetheproposalsinupdatestoEthereum’ssoftwarecode.Hereisabreakdownofether’sissuancescheduletodate.Block0toBlock4,369,999:5etherBlock4,370,000to7,280,000:3ether(changedviaEIP-649)Block7,280,000tonow:2Ether(changedviaEIP-1234)Theissuancerateisalsoaffectedbyafeatureknownasthe“difficultybomb.”ThisreferstoamechanismthatincreasesthedifficultyofminingontheoriginalEthereumblockchain(priortothetransitiontotheproof-of-stakeEthereum2.0blockchain.Seebelow).Increasingminingdifficultylengthensthetimeittakesforminerstodiscovernewblocks.Thatmeanslessetherenterscirculationintheformofblockrewards,whichinturntapersoverallissuance.Thismechanismwasactivated,resetanddelayedseveraltimesbetween2017and2020,mainlybecauseEthereumdevelopersneededmoretimetoworkonkeyupdatesaheadofthe2.0upgrade.Fromether’sofficiallaunchdatein2014toMarch2017,thetoken’spriceremainedrangeboundbetween$0.70and$21.Itwasn’tuntilthe2017bullcryptomarketstartedtopickupinMayofthatyearthatETHpricewentabove$100forthefirsttime.Fromthere,etherskyrocketedtoapeakof$414inJune2017beforecorrecting.Ittookanotherfivemonthsforbullishmomentumtoregainstrength.Bythatpoint,theentirecryptomarketwasstartingtoexperiencehugebuyingpressure,whichelevatedalmosteverycryptotokentonewhighs.ByJanuary2018,ETH’spricepeakedat$1,418beforeitfellsharply.Ittookaboutthreeyearsforthesecond-largestcryptocurrencybymarketcap(behindbitcoin)toretestitspreviousall-timehighprice.BetweenFebruaryandMay2021,eth’spricemorethantripledtosetanewall-timehighof$4,379.HowEthereumworksLikeBitcoin,Ethereumhasitsownblockchainwhereaglobalnetworkofmorethan2.4millioncomputersknownas“nodes”maintainsarecordoftransactions.AnyonecanrunanEthereumnodeandparticipateinvalidatingthenetworkprovidedtheyhavetherighthardware,knowledgeandtimetocommittoit.TherearethreemaintypesofnodesthatoperateontheEthereumnetwork.Fullnodes:ThesecopyandverifyalltransactionsontheEthereumblockchain,aswellasexecutesmartcontractinstructionsknownasopcodes.Fullnodesshouldn’tbeconfusedwithminers(seeexamplebelow).Lightnodes:Thesemaintainonlyapartialrecordoftheblockchainandrequesttherestofthedatafromfullnodes.Asthenamesuggests,thesenodescanrunonlighterdevicessuchasmobilephonesanddon’tneedtooperate24/7.Fullarchivenodes:ThesestoretheentirehistoryoftheEthereumblockchain,includingprevious“states”–ortheinformationontheblockchain–andareusedfortoolslikeblockexplorers.Aneasywaytounderstandthedifferencebetweenminersandfullnodesistothinkofminersasarchaeologistsoutinthefielduncoveringhistoricalartifactsandfullnodesasadministratorsatanationalmuseumwhomaintainarecordofallthearchaeologists’findings.Themaindifferencebetweenafullnodeandafullarchivenodeisthatafullarchivenodedoeseverythingafullnodedoesbutalsocompilesanarchiveofallpreviousstates.TheEthereumblockchainreliesonminerstodiscovernewblocks.Thesearelikedigitalboxesthatstoretransactioninformationandotherdata.Minerscompeteusingspecializedcomputingequipmenttowinthechancetobethenextpersontoaddablocktothechainandgetrewardedwithtransactionfees(fromthetransactionstheyaddtotheblock)and“blockrewards.”Blockrewardsarenewethercoinsthatarecreatedwheneachnewblockisdiscoveredandaregiventothesuccessfulminerfortheirefforts.Onceablockisadded,therestoftheminingnetworkverifiesittomakesurethebalancesarecorrectandthetransactionisn’ta“double-spend,”i.e.,someoneisn’ttryingtospendmoneytheydon’thave.Fullnodesthenmakearecordofthefinaldata.However,unlikeBitcoin,Ethereumfullnodesalsoneedtokeeptrackofthestate(thecurrentinformation)ofalloftheseapplications,includingeachuser’sbalance,allthesmartcontractcode,whereit’sallstoredandanychangesthataremade.ThismeansrunninganEthereumnoderequiressignificantlymorestorageandisexpensivetoruncomparedwithabitcoinnode.Here’sasummaryofwhat’sstoredineachnode:Accounts:Thisshowshowmuchethertheuserhas.Smartcontractcode:Ethereumstoressmartcontracts,whichdescribetherulesthatneedtobemetformoneytobeunlockedandtransferred.Smartcontractstate:Thestateofthesmartcontracts.EtherandgasEther(ETH)isthemaintokenoftheEthereumblockchainandactsastheprimary“fuel”thatpowersallactivityonit.“Gas”referstoanamountofetherthat’sneededtoperformacertainfunctiononthenetwork,suchas:Sendingtransactions(swapping,tradingormovingEthereum-basedtokensaround)InteractingwithdecentralizedapplicationsCreatingsmartcontractsMintingnon-fungibletokens,orNFTsHowmuchgasyoupayforeachactionontheEthereumblockchainiscalculatedbasedontwothings:Gascost:ThecomputationalenergyanoperationonEthereumrequirestobeprocessedandexecutedonthenetwork.Thisisdenominatedinunitsofgas.Gasprice:Theratesetbytheuserforconvertinggasintounitsofether.Theseunitsareusuallydenominatedin“gwei,”whichisaunitofEthereumequivalentto0.000000001ether.CostofanoperationonEthereum=gascostxgaspriceSmartcontractsSmartcontractscanbewrittenusingseveralhigh-levelprogramminglanguagessuchasC++andJavaScript,butthemostpopulariscalled“Solidity,”whichwascreatedbyGavinWood,oneofEthereum’sco-foundersandtheproject’sfirstchieftechnologyofficer.Thesecontractsthenhavetobeconvertedfromhigh-levellanguages(thathumanscanunderstand)tolow-levellanguages(thatamachinecanunderstand).That’sbecauseacomputerenvironmentcalledthe“EthereumVirtualMachine,”orEVM,iswhereallsmartcontractsaredeployedandexecuted.ThisEVMisbuiltintoeveryfullEthereumnodeandcancarryoutmorethan140differentoperationcodes(opcodes).Theseareessentiallymachineinstructionsthatcanbestrungtogethertoperformvirtuallyanytask,whichiswhattheterm“Turing-complete”refersto.Theadventofsmartcontractshasledtothecreationofdecentralizedautonomousorganizations(DAOs)andanentiredecentralizedfinanceecosystem,or“DeFi,”wheretraditionalfinancialservicessuchaslendingandprovidinginsurancecannowbeaccessedthroughpeer-to-peerpowereddapps.EthereumtokenstandardsEthereumtokenstandardsaretheblueprintsforcreatingtokensthatarecompatiblewiththebroaderEthereumnetwork.Theseincludetokensthatcanbetradedforoneanother(fungible)aswellastokensthatareinherentlyuniqueandcannotbemutuallyexchanged(NFTs).EthereumtokenstandardswereinventedbyEthereumdeveloperstohelpuserscreatenewdigitalcurrenciesmoreeasily,fasterandcheaperthanstartingfromscratch.Whilethereareseveraldifferenttokenstandardsknownas“ERC”deployedontheethereumnetwork,threearecommonlyused:ERC-20:Forcreatingfungibletokensthathavesimilarpropertiestobitcoinandothermainstreamcryptocurrencies.ERC-721:Forcreatingnon-fungible,uniquetokenssuchasNFTs.ERC-1155:Amulti-tokenstandardusedforcreatingfungible,non-fungibleandsemi-fungibletokens.Ethereum2.0Ethereum2.0,alsoknownas“Serenity,”isamajorupgradethataimstomaketheworld’ssecond-largestcryptoprojectfaster,moreefficientandmorescalablebymigratingthenetworkfromaproof-of-worktoaproof-of-stakesystem.Dubbed“Casper,”Ethereum’snewproof-of-stake(PoS)systeminvolvesusersofthenetworklockinguptheircoinstobecomenetworkcontributors,asopposedtousingexpensive,energy-intensiveminingequipment.Eachstakerisrequiredtolockup32ethersortojoinastakingpoolandcombinetheiretherwithotherstoparticipateincreatingnewblocksontheEthereumPoSblockchain.TheEthereum2.0upgradeisrollingoutinmultiplephases.Theinitialonesinclude:Phase0:Beaconchainandproof-of-stakelaunchPhase1:MergingtheoldandnewEthereumblockchainsPhase2:Introductionof“shard”chainsandroll-uptechnologyPhase3:SecurityimprovementsPhase0launchedinDecember2020,andtheBeaconisaseparateEthereumblockchainthatintroducedaproof-of-stakesystem.It’salsoresponsiblefornewblockcreation,transactionverification,stakingrewardsandmanagingnewEthereumblockchainscalled“shardchains.”Inthenextmajorphaseofdevelopment,Ethereum’sBeaconchainwillbebridgedtothemainEthereumnetworkandwillreplacethecurrent,energy-intensiveproof-of-worksystemwithproof-of-stake.Networkstakeholdersknownas“validators”willbeginproducingblocks,verifyingtransactionsandmanagingthesecurityoftheblockchaininplaceofminersafterEthereumandEth2.0aremerged.Afterthemerge,therewillbeadditional,smallerupgradesneeded.ThenexttaskforEthereumdeveloperswillbeenablingsharding,whichcreatesmultiplemini-blockchains.Eachshardwillberesponsibleforverifyingitsownsetoftransactionsratherthantheentirenetworkverifyingeverysingletransaction.TheBeaconchainwillactasthemaincoordinatorbetweentheseshards,randomlyassigningvalidatorstoeach.WithPoSandshardingbothenabled,Ethereumdevelopersexpectthattheywillmakefurthertweakstoenhancethesecurityofthenetwork.Thatincludesaddinganonymityfeaturestoconcealvalidatoridentitiesbehindblockproposals.ItalsoincludesleveragingnewtechnologiessuchastheVerifiableDelayFunction(VDF)tofurthersecuretherandomnessofvalidatorassignmentsandmakeitharderformaliciousactorstodisruptthenetwork.KeyeventsandmanagementAsmentionedabove,EthereumwasoriginallyconceivedbyButerin,theRussian-Canadiancomputerprogrammer.Atthetime,Buterinwasjust19yearsold.InNovember2013,hereleasedtheEthereumwhitepaper–atechnicaldocumentthatoutlinedthevisionandtechnologybehindtheproposedproject.Amonthlater,ButerinaskedIsraeli-AmericanAmirChetrittojoinhisproject.Thetwohadworkedtogetheronaseparateprojectcalled“ColoredCoins”–whichsubsequentlylaidthefoundationsfortheNFTmarket.Notlongafterpublishingthewhitepaper,ButerinattendedaBitcoinconferenceinMiami,wherehemetanumberofinteresteddevelopersandinvestorswhojoinedtheEthereumprojectasco-founders.ThoseincludedMihaiAlisie,AnthonyDiIorioandCharlesHoskinsonJosephLubin,JeffreyWilckeandWoodwereintroducedlaterastheproject’slastthreeco-founders.Together,theeight-memberteamformedanentityknownastheEthereumFoundation–aSwitzerland-basednonprofitorganization.AdisputebetweenHoskinsonandButerinoverwhetherEthereumshouldbeafor-profitcompany,ledtoHoskinsonleavingtheproject.Overthecourseofafewshortyears,allsevenco-founderssteppeddownorbecamedetachedfromEthereum,leavingButerinasthelastremainingactiveco-founder.TheEthereumprotocolofficiallylaunchedin2015andquicklyrosetobecometheworld’ssecond-largestcryptocurrencybymarketvaluebehindbitcoin.PreviouslyAiredFirstMoverBitcoinBacktoMid$19KLevelAfterWildDayofTrading;TheFightForaSpotBitcoinETFBitcoinnearlybrokethrough$20,000asitrecoveredfromyesterday'splungetriggeredbythelatestinflationreport."FirstMover"divesintocryptomarketswithStablecorpCEOAlexMcDougallandWillPeckofWisdomTree.Plus,willWisdomTreecontinuethefightforaspotbitcoinETFaftersufferingyetanotherSECrejection?Also,today'sI.D.E.A.S.conferencepreview:Meetanentrepreneurworkingonabank-likeexperiencewithouttheneedforabank.WatchCoinDeskTV|ViewallvideosEthereumMarketCap$156.09BEthereum24HVolume$277.68MEthereumPrice24HOpen$1,278.9124HChange$25.0352WeekLow$880.9352WeekHigh$4,867.24AllTimeHigh$4,865.57Returns(YTD)-64.57%EthereumMarketStatsTotalSupply119.71MMaxSupplyN/A24HValueTransacted$961.79M30DVolatility0.56667824HTransactionCount1.04M24HAverageTransactionFee$2.53AboutEthereumSectorSmartContractPlatformIndustryGroupSingleChainIndustrySingleChainTheEthereumpriceis$1,303.95,achangeof1.96%overthepast24hoursasof12:59a.m.TherecentpriceactioninEthereumleftthetokensmarketcapitalizationat$156,091,384,544.99.Sofarthisyear,Ethereumhasachangeof-64.57%.EthereumisclassifiedasaSmartContractPlatformunderCoinDesksDigitalAssetClassificationStandard(DACS).Ethereumisablockchain-basedsoftwareplatformthatcanbeusedforsendingandreceivingvaluegloballywithitsnativecryptocurrency,ether,withoutanythird-partyinterference.Butitcanalsodomuchmorethanthat.Firstproposedin2013byRussian-CanadiancomputerprogrammerVitalikButerin,Ethereumwasdesignedtoexpandtheutilityofcryptocurrenciesbyallowingdeveloperstocreatetheirownspecialapplications.Unliketraditionalapps,theseEthereum-basedapplications,called“decentralizedapplications,”ordapps,areself-executingthankstotheuseofsmartcontracts.Smartcontractsarecode-basedprogramsthatarestoredontheEthereumblockchainandautomaticallycarryoutcertainfunctionswhenpredeterminedconditionsaremet.Thatcanbeanythingfromsendingatransactionwhenacertaineventtakesplaceorloaningfundsoncecollateralisdepositedintoadesignatedwallet.ThesmartcontractsformthebasisofalldappsbuiltonEthereum,aswellasallotherdappscreatedacrossotherblockchainplatforms.EtherpriceInAugust2014,Ethereumlauncheditsnativetoken,ether,throughaninitialcoinoffering(ICO).Some50millionETHsweresoldatapriceof$0.31percoin,raisingover$16millionfortheproject.Unlikemanyothercryptocurrencies,Ethereum’scryptocurrencyhasanunboundedsupply,meaningthereisnolimittohowmanyethercanentercirculation.Accordingtotheproject’sofficialwebsite,theannualinflationrateofetherisabout4.5%.BlockrewardshavebeenreducedtwotimessincethefirsteverEthereumblockwasmined.Thatblockisknownasthegenesisblock.Thereductionsinblockrewardsaren’tprogrammedintoEthereum’scodelikeBitcoin’shalvingeventsare.Instead,membersofthecommunityproposechanges,called“EthereumImprovementProposals,”orEIPs,andtherestofthecommunityvotesonwhethertoincludetheproposalsinupdatestoEthereum’ssoftwarecode.Hereisabreakdownofether’sissuancescheduletodate.Block0toBlock4,369,999:5etherBlock4,370,000to7,280,000:3ether(changedviaEIP-649)Block7,280,000tonow:2Ether(changedviaEIP-1234)Theissuancerateisalsoaffectedbyafeatureknownasthe“difficultybomb.”ThisreferstoamechanismthatincreasesthedifficultyofminingontheoriginalEthereumblockchain(priortothetransitiontotheproof-of-stakeEthereum2.0blockchain.Seebelow).Increasingminingdifficultylengthensthetimeittakesforminerstodiscovernewblocks.Thatmeanslessetherenterscirculationintheformofblockrewards,whichinturntapersoverallissuance.Thismechanismwasactivated,resetanddelayedseveraltimesbetween2017and2020,mainlybecauseEthereumdevelopersneededmoretimetoworkonkeyupdatesaheadofthe2.0upgrade.Fromether’sofficiallaunchdatein2014toMarch2017,thetoken’spriceremainedrangeboundbetween$0.70and$21.Itwasn’tuntilthe2017bullcryptomarketstartedtopickupinMayofthatyearthatETHpricewentabove$100forthefirsttime.Fromthere,etherskyrocketedtoapeakof$414inJune2017beforecorrecting.Ittookanotherfivemonthsforbullishmomentumtoregainstrength.Bythatpoint,theentirecryptomarketwasstartingtoexperiencehugebuyingpressure,whichelevatedalmosteverycryptotokentonewhighs.ByJanuary2018,ETH’spricepeakedat$1,418beforeitfellsharply.Ittookaboutthreeyearsforthesecond-largestcryptocurrencybymarketcap(behindbitcoin)toretestitspreviousall-timehighprice.BetweenFebruaryandMay2021,eth’spricemorethantripledtosetanewall-timehighof$4,379.HowEthereumworksLikeBitcoin,Ethereumhasitsownblockchainwhereaglobalnetworkofmorethan2.4millioncomputersknownas“nodes”maintainsarecordoftransactions.AnyonecanrunanEthereumnodeandparticipateinvalidatingthenetworkprovidedtheyhavetherighthardware,knowledgeandtimetocommittoit.TherearethreemaintypesofnodesthatoperateontheEthereumnetwork.Fullnodes:ThesecopyandverifyalltransactionsontheEthereumblockchain,aswellasexecutesmartcontractinstructionsknownasopcodes.Fullnodesshouldn’tbeconfusedwithminers(seeexamplebelow).Lightnodes:Thesemaintainonlyapartialrecordoftheblockchainandrequesttherestofthedatafromfullnodes.Asthenamesuggests,thesenodescanrunonlighterdevicessuchasmobilephonesanddon’tneedtooperate24/7.Fullarchivenodes:ThesestoretheentirehistoryoftheEthereumblockchain,includingprevious“states”–ortheinformationontheblockchain–andareusedfortoolslikeblockexplorers.Aneasywaytounderstandthedifferencebetweenminersandfullnodesistothinkofminersasarchaeologistsoutinthefielduncoveringhistoricalartifactsandfullnodesasadministratorsatanationalmuseumwhomaintainarecordofallthearchaeologists’findings.Themaindifferencebetweenafullnodeandafullarchivenodeisthatafullarchivenodedoeseverythingafullnodedoesbutalsocompilesanarchiveofallpreviousstates.TheEthereumblockchainreliesonminerstodiscovernewblocks.Thesearelikedigitalboxesthatstoretransactioninformationandotherdata.Minerscompeteusingspecializedcomputingequipmenttowinthechancetobethenextpersontoaddablocktothechainandgetrewardedwithtransactionfees(fromthetransactionstheyaddtotheblock)and“blockrewards.”Blockrewardsarenewethercoinsthatarecreatedwheneachnewblockisdiscoveredandaregiventothesuccessfulminerfortheirefforts.Onceablockisadded,therestoftheminingnetworkverifiesittomakesurethebalancesarecorrectandthetransactionisn’ta“double-spend,”i.e.,someoneisn’ttryingtospendmoneytheydon’thave.Fullnodesthenmakearecordofthefinaldata.However,unlikeBitcoin,Ethereumfullnodesalsoneedtokeeptrackofthestate(thecurrentinformation)ofalloftheseapplications,includingeachuser’sbalance,allthesmartcontractcode,whereit’sallstoredandanychangesthataremade.ThismeansrunninganEthereumnoderequiressignificantlymorestorageandisexpensivetoruncomparedwithabitcoinnode.Here’sasummaryofwhat’sstoredineachnode:Accounts:Thisshowshowmuchethertheuserhas.Smartcontractcode:Ethereumstoressmartcontracts,whichdescribetherulesthatneedtobemetformoneytobeunlockedandtransferred.Smartcontractstate:Thestateofthesmartcontracts.EtherandgasEther(ETH)isthemaintokenoftheEthereumblockchainandactsastheprimary“fuel”thatpowersallactivityonit.“Gas”referstoanamountofetherthat’sneededtoperformacertainfunctiononthenetwork,suchas:Sendingtransactions(swapping,tradingormovingEthereum-basedtokensaround)InteractingwithdecentralizedapplicationsCreatingsmartcontractsMintingnon-fungibletokens,orNFTsHowmuchgasyoupayforeachactionontheEthereumblockchainiscalculatedbasedontwothings:Gascost:ThecomputationalenergyanoperationonEthereumrequirestobeprocessedandexecutedonthenetwork.Thisisdenominatedinunitsofgas.Gasprice:Theratesetbytheuserforconvertinggasintounitsofether.Theseunitsareusuallydenominatedin“gwei,”whichisaunitofEthereumequivalentto0.000000001ether.CostofanoperationonEthereum=gascostxgaspriceSmartcontractsSmartcontractscanbewrittenusingseveralhigh-levelprogramminglanguagessuchasC++andJavaScript,butthemostpopulariscalled“Solidity,”whichwascreatedbyGavinWood,oneofEthereum’sco-foundersandtheproject’sfirstchieftechnologyofficer.Thesecontractsthenhavetobeconvertedfromhigh-levellanguages(thathumanscanunderstand)tolow-levellanguages(thatamachinecanunderstand).That’sbecauseacomputerenvironmentcalledthe“EthereumVirtualMachine,”orEVM,iswhereallsmartcontractsaredeployedandexecuted.ThisEVMisbuiltintoeveryfullEthereumnodeandcancarryoutmorethan140differentoperationcodes(opcodes).Theseareessentiallymachineinstructionsthatcanbestrungtogethertoperformvirtuallyanytask,whichiswhattheterm“Turing-complete”refersto.Theadventofsmartcontractshasledtothecreationofdecentralizedautonomousorganizations(DAOs)andanentiredecentralizedfinanceecosystem,or“DeFi,”wheretraditionalfinancialservicessuchaslendingandprovidinginsurancecannowbeaccessedthroughpeer-to-peerpowereddapps.EthereumtokenstandardsEthereumtokenstandardsaretheblueprintsforcreatingtokensthatarecompatiblewiththebroaderEthereumnetwork.Theseincludetokensthatcanbetradedforoneanother(fungible)aswellastokensthatareinherentlyuniqueandcannotbemutuallyexchanged(NFTs).EthereumtokenstandardswereinventedbyEthereumdeveloperstohelpuserscreatenewdigitalcurrenciesmoreeasily,fasterandcheaperthanstartingfromscratch.Whilethereareseveraldifferenttokenstandardsknownas“ERC”deployedontheethereumnetwork,threearecommonlyused:ERC-20:Forcreatingfungibletokensthathavesimilarpropertiestobitcoinandothermainstreamcryptocurrencies.ERC-721:Forcreatingnon-fungible,uniquetokenssuchasNFTs.ERC-1155:Amulti-tokenstandardusedforcreatingfungible,non-fungibleandsemi-fungibletokens.Ethereum2.0Ethereum2.0,alsoknownas“Serenity,”isamajorupgradethataimstomaketheworld’ssecond-largestcryptoprojectfaster,moreefficientandmorescalablebymigratingthenetworkfromaproof-of-worktoaproof-of-stakesystem.Dubbed“Casper,”Ethereum’snewproof-of-stake(PoS)systeminvolvesusersofthenetworklockinguptheircoinstobecomenetworkcontributors,asopposedtousingexpensive,energy-intensiveminingequipment.Eachstakerisrequiredtolockup32ethersortojoinastakingpoolandcombinetheiretherwithotherstoparticipateincreatingnewblocksontheEthereumPoSblockchain.TheEthereum2.0upgradeisrollingoutinmultiplephases.Theinitialonesinclude:Phase0:Beaconchainandproof-of-stakelaunchPhase1:MergingtheoldandnewEthereumblockchainsPhase2:Introductionof“shard”chainsandroll-uptechnologyPhase3:SecurityimprovementsPhase0launchedinDecember2020,andtheBeaconisaseparateEthereumblockchainthatintroducedaproof-of-stakesystem.It’salsoresponsiblefornewblockcreation,transactionverification,stakingrewardsandmanagingnewEthereumblockchainscalled“shardchains.”Inthenextmajorphaseofdevelopment,Ethereum’sBeaconchainwillbebridgedtothemainEthereumnetworkandwillreplacethecurrent,energy-intensiveproof-of-worksystemwithproof-of-stake.Networkstakeholdersknownas“validators”willbeginproducingblocks,verifyingtransactionsandmanagingthesecurityoftheblockchaininplaceofminersafterEthereumandEth2.0aremerged.Afterthemerge,therewillbeadditional,smallerupgradesneeded.ThenexttaskforEthereumdeveloperswillbeenablingsharding,whichcreatesmultiplemini-blockchains.Eachshardwillberesponsibleforverifyingitsownsetoftransactionsratherthantheentirenetworkverifyingeverysingletransaction.TheBeaconchainwillactasthemaincoordinatorbetweentheseshards,randomlyassigningvalidatorstoeach.WithPoSandshardingbothenabled,Ethereumdevelopersexpectthattheywillmakefurthertweakstoenhancethesecurityofthenetwork.Thatincludesaddinganonymityfeaturestoconcealvalidatoridentitiesbehindblockproposals.ItalsoincludesleveragingnewtechnologiessuchastheVerifiableDelayFunction(VDF)tofurthersecuretherandomnessofvalidatorassignmentsandmakeitharderformaliciousactorstodisruptthenetwork.KeyeventsandmanagementAsmentionedabove,EthereumwasoriginallyconceivedbyButerin,theRussian-Canadiancomputerprogrammer.Atthetime,Buterinwasjust19yearsold.InNovember2013,hereleasedtheEthereumwhitepaper–atechnicaldocumentthatoutlinedthevisionandtechnologybehindtheproposedproject.Amonthlater,ButerinaskedIsraeli-AmericanAmirChetrittojoinhisproject.Thetwohadworkedtogetheronaseparateprojectcalled“ColoredCoins”–whichsubsequentlylaidthefoundationsfortheNFTmarket.Notlongafterpublishingthewhitepaper,ButerinattendedaBitcoinconferenceinMiami,wherehemetanumberofinteresteddevelopersandinvestorswhojoinedtheEthereumprojectasco-founders.ThoseincludedMihaiAlisie,AnthonyDiIorioandCharlesHoskinsonJosephLubin,JeffreyWilckeandWoodwereintroducedlaterastheproject’slastthreeco-founders.Together,theeight-memberteamformedanentityknownastheEthereumFoundation–aSwitzerland-basednonprofitorganization.AdisputebetweenHoskinsonandButerinoverwhetherEthereumshouldbeafor-profitcompany,ledtoHoskinsonleavingtheproject.Overthecourseofafewshortyears,allsevenco-founderssteppeddownorbecamedetachedfromEthereum,leavingButerinasthelastremainingactiveco-founder.TheEthereumprotocolofficiallylaunchedin2015andquicklyrosetobecometheworld’ssecond-largestcryptocurrencybymarketvaluebehindbitcoin.MarketAnalysisSocialAnalysisTrendingAssetsBTC0.67%$19,250.60ETH1.96%$1,303.95USDT-0.15%$0.99XRP-1.89%$0.48BNB0.78%$271.54BitcoinCalculatorCryptotoFIATCryptotoCryptoLastUpdatedon10/17/2212:59AMCoinDesk’sBitcoinandCryptocurrencyCalculatordeterminestheexchangeratesbetweenmajorfiatcurrenciesandcryptocurrencies–includingBTC,BCH,ETHandXRPtoUSD,EUR,GBP,IDRandNGN–withuptosixdecimalplacesofaccuracy.ConversionratesarebasedonCoinDesk’sBitcoinPriceIndexandthepriceindicesofotherdigitalassets.WorldcurrencypricesarebasedonratesobtainedviaOpenExchangeRates.GoToBitcoinCalculatorLatestAboutEthereumMarketsEthereumEtherBecomesDeflationaryforFirstTimeSincetheMerge:CoinbaseThenumberoftokensfellby4,000overthelastweekasmoreetherwasburnedverifyingtransactionsthanwascreated,thereportsaid.ByWillCannySponsoredOct13,2022at10:35a.m.UTCOct13,2022EthereumTheMergeEtherCoinbaseMarketsFirstmoverFirstMoverAsia:ToughWeekforLayer1asSolana,BNBChainSufferOutages;BitcoinTradesFlatasOctoberDoldrumsContinueTheproblemsbothprotocolssufferedareremindersthatneitherisreallydecentralized,andthattheyarenotyettruechallengerstoEthereum;etherandotheraltcoinstradesideways.ByJamesRubinSponsoredOct10,2022at1:01a.m.UTCOct10,2022FirstMoverAsiaPacificBitcoinEtherAltcoinsMarketsNo-livewireLafusióndeEthereumestálograndoquesucriptomonedaseamásatractivaquebitcoinantelainflaciónLadrásticareduccióndelatasadeinflaciónnetadeetherseatribuyealaeliminacióndelasrecompensasdemineríayala“quema”delascomisionesdetransacción,dijeronlosexpertos.ByJocelynYangSponsoredSep28,2022at5:41p.m.UTCSep28,2022no-livewireEthereumBitcoinResearchReportsDivingindeeperoncryptocurrency.BuildingontheNews:IntroducingLayer2byCoinDeskDec9,2021USClaimsBitcoinMiningCrownFollowingChinaCrackdownOct13,2021CryptoIndustryCouldAdd$184BofEconomicValuetoIndiaby2030:NASSCOMSep24,2021DisclaimerAnydata,textorothercontentonthispageisprovidedasgeneralmarketinformationandnotasinvestmentadvice.Pastperformanceisnotnecessarilyanindicatoroffutureresults.CoinDeskisanindependentlymanagedmediacompany,whollyownedbytheDigitalCurrencyGroup,whichinvestsincryptocurrenciesandblockchainstartups.DCGhasnooperationalinputintotheselectionordurationofCoinDeskcontentinallitsforms.UP