Ethereum is an open-source, blockchain-based software platform that allows developers to create business and financial services as well as digital applications. Ether (ETH) is the native cryptocurrency of the platform. Ether can also be used as a store of value and digital currency however, unlike Bitcoin, Ethereum has no supply cap.
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Circulating supply0 ETH
Ethereum was created to allow for the development of smart contracts and decentralized apps (dapps). Ethereum is described as the “world’s programmable blockchain” and acts as a programmable network for decentralized financial (Defi) services, games and dapps. Ethereum charges users fees in order to use dapps, these fees are termed as “gas” and vary depending on the computational energy required for the application. Most other cryptocurrencies are built on the existing Ethereum blockchain. Ethereum is also used to establish decentralized autonomous organizations(DAOs) allowing individuals to work together on projects in a fully democratized, secured environment
ETH can be used for several different purchases and at Travala.com, ETH can be used to book over 3,000,000 travel products, including hotels, homes, flights, and activities. With accommodation in over 230 countries and territories, 600+ airlines, and more than 400,000 activities, Travala.com’s selection provides travellers with extensive choice when booking with ETH.
As the second-largest cryptocurrency by market cap, you can trade ETH on various platforms. The extensive number of uses for ETH as well as the lower price of the cryptocurrency in comparison to Bitcoin make it an attractive cryptocurrency for traders. ETH can be traded on the most widely used cryptocurrency trading platforms.
Ethereum is used as the blockchain software platform for developers to create decentralized applications (dapps) that be used by the public. Their work is based on smart contracts created by the network which allow a function to be executed when its requirements are met. In order to use a dapp, Ethereum requires the user to pay a fee which is termed “gas”.
The launch of the Beacon Chain means the introduction of proof of stake protocol to the Ethereum platform. This allows an individual to become a validator and help secure the network and earn rewards in the process. As a validator you’ll be responsible for storing data, processing transactions, and adding new blocks to the blockchain. This will keep Ethereum secure for everyone and earn you new ETH in the process.
Through the utilization of smart contracts, ETH can be exchanged for Ethereum-based assets. Non-fungible tokens (NFTs) represent ownership of a unique item such as a digital artwork or collectible. Whilst they are primarily used to represent digital items, they can also correspond to unique physical items. Ethereum’s smart contracts can ensure that the exchange of NFTs for cryptocurrency can occur securely. The system also ensures that creation, as well as ownership of the NFT, is verifiable and each token is minted with a unique identifier.
Store your ETH securely with the following wallets:
Ethereum’s open-source blockchain and smart contract functionality is very attractive for developers to build upon. This subsequently leads to high amounts of gas required for smart contracts to be executed, providing the demand for miners to supply. The smart contract functionality also allows for transactions to occur for NFTs.