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About Ethereum (ETH)

Ethereum is a programmable blockchain, which is a software platform that can be re-coded to build new uses for the technology. The network’s digital asset, Ether (ETH), is the second largest by market capitalisation. Ethereum has a feature called smart contracts. A smart contract automatically executes the terms of an agreed contract, without the need for any third-party. It is useful for many industries, including e-commerce, e-gaming and financial services.

Using Ethereum (ETH) price information

Ethereum price data aids investors in analysing market trends and managing risk, allowing for informed investment choices and better risk mitigation strategies.

Frequently asked questions

How is the price of Ethereum determined?

The price of Ethereum is tied to the price of its native cryptocurrency, Ether (ETH), which fluctuates based on supply and demand dynamics on cryptocurrency exchanges. Ether’s price is also typically quoted with traditional currencies such as the euro or US dollar, often referred to as the Ether/euro exchange rate.

What is Ethereum mining?

In simple terms, Ethereum mining involves adding a block of transactions to the Ethereum blockchain. Miners use a computational puzzle-solving method called Hashing Scrypt (Ethash) to validate and approve transactions. It protects the network against hacking and identity manipulation by ensuring security and integrity.

Where can Ethereum be bought?

You can quickly and securely buy Ethereum on BTC Markets, which is Australia's leading cryptocurrency exchange platform. Users can create an account, deposit funds, and trade cryptocurrencies.

What is the market cap of Ethereum (ETH)?

The current price of Ethereum is A$3,033.86 per ETH, and with a circulating supply of 102,244,917.345 ETH, its total market capitalisation is A$364,301,410,491.38.

What makes Ethereum valuable?

Ethereum is valuable because:

  • Ethereum’s smart contract capability allows for executing decentralised applications (DApps) like DeFi and NFTs, creating real-world use cases and sustaining value.
  • As an infrastructure, Ethereum has the potential to revolutionise finance and technology, impacting markets, governance, and public services.
  • Ethereum’s transition to a proof-of-stake model (Ethereum 2.0) offers scalability, increased transaction-processing capability, and environmental friendliness compared to proof-of-work alternatives like Bitcoin.
  • Ethereum’s faster block times and transaction speeds enhance its efficiency and usability, especially with the upcoming Ethereum 2.0 upgrade.
  • Ethereum’s disinflationary supply model, coupled with its correlation to Bitcoin, positions it as an investment option with unique characteristics and diversification potential.

Find out the latest Ethereum news

Weekly Crypto Wrap: 22nd February 2024
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Weekly Crypto Wrap: 22nd February 2024

Read more - Weekly Crypto Wrap: 22nd February 2024
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