Ethereum (ETH)

Overview

Ethereum is one of the oldest and most popular crypto-related project besides Bitcoin itself. It does not compete with other cryptocurrencies directly and has a different use case. Ethereum is a platform which allows developers to build distributed programs on top of it. For example, a distributed ledger (another way to describe cryptocurrencies such as Bitcoin) could be built completely on top of Ethereum. This is just one (and a very simple one) type of distributed app (dAPP) that can run on the Ethereum network. Ethereum has many other use cases too. For example, escrow services could be built on top of Ethereum without requiring a third party authority controlling the funds. Funds can be automatically released on some condition. Many ICOs use this type of dAPP; distributing tokens on success or returning funding if the ICO does not reach its target. Ether is the 'currency' of the Ethereum network. It is used by those wanting to execute distributed applications on the Ethereum platform. When a user executes a smart contract they also send some Ether along with the transaction. This fee is given to the node which mines the block containing the result of the smart contract's execution.

ETH Quick Specifications

Price: $1,266.62 USD
Market Cap: $122,869,169,106 USD
Total Supply: Unlimited supply (Deflationary)
Current Supply:
Algorithm: Ethhash
Block Time: ~14 seconds
Transactions: 20 tx/s
Status: Full Release
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