Ethereum (ETH) Live Price

Ethereum (ETH), also known as Ether, was first proposed in 2013 as an alteration to the then dominant Bitcoin (BTC) so that developers could create decentralized applications based on the underlying blockchain. The Ethereum platform and digital currency (ETH) were developed independently and deployed in 2015. While the coin has experienced notable volatility, the value of Ethereum has risen steadily making it one of the top cryptocurrencies by market cap.

Ethereum can be traded as an independent cryptocurrency, but its main purpose is to pay for transaction fees that take place on the network. The network is designed to facilitate smart contracts, which are a system for the verification of multi-stage and procedure-driven interactions between consenting parties.

Ethereum boats a large number of decentralized applications based on its blockchain, including some developed by major software corporations. As the first network to enter the blockchain-based decentralized application industry in strength, it retains a first-mover advantage and loyal following.

There have been some concerns about the speed of transaction processing on the Ethereum network, and rivals EOS and TRON have arisen in the decentralized application space to challenge them. However, while the rate of new decentralized application may be declining, it remains an extremely popular format thanks to its commitment to its developer community.