One article comprehensively introduces the Ethereum project

Ethereum is a cryptocurrency based on blockchain technology that aims to create a more versatile blockchain platform beyond Bitcoin. It allows developers to build smart contracts on the blockchain through its Ethereum Virtual Machine (EVM) and is widely used in decentralized finance (DeFi), non-fungible tokens (NFT) and decentralized applications (dApps) )field. Ethereum’s native token is ETH, which is used to pay network fees and serve as a store of value. Compared with Bitcoin, Ethereum has stronger functionality, adopts a proof-of-stake (PoS) consensus mechanism, and is improving scalability through upgrades such as sharding. Ethereum will continue to play a leading role in DeFi, NFT and other fields in the future, and continuous upgrades and development will promote

What is Ethereum?

Ethereum is a cryptocurrency based on blockchain technology and the basic token of the Ethereum platform.

Comprehensive introduction to the Ethereum project

History and origins

• Ethereum was proposed by Vitalik Buterin in 2013 with the aim of creating a more versatile blockchain platform beyond first-generation cryptography such as Bitcoin The purely monetary function of money.
• In 2014, the Ethereum team raised funds through ICO and officially released the Ethereum blockchain in 2015.

Technical Principle

• Ethereum uses a decentralized virtual machine called the Ethereum Virtual Machine (EVM). EVM allows developers to build and deploy smart contracts on the blockchain.
• Smart contracts are programs stored on the blockchain that can automatically execute transactions based on specific conditions.

Application Areas

• Decentralized Finance (DeFi): Ethereum is used for various DeFi applications such as lending, trading, and asset management.
• Non-Fungible Token (NFT): NFT is a unique digital asset based on Ethereum that represents the ownership or uniqueness of a specific item.
• Decentralized Applications (dApps): dApps on the Ethereum platform can provide various services, such as games, social networks, and payment systems.

Ethereum Token (ETH)

• ETH is the native token used to pay Ethereum network fees.
• ETH also serves as a store of value and is traded on cryptocurrency exchanges.

The difference between Ethereum and Bitcoin

• Functionality: Ethereum is a multi-functional platform that supports smart contracts and dApps, while Bitcoin is limited to currency transactions.
• Consensus mechanism: Ethereum uses the Proof of Stake (PoS) consensus mechanism, while Bitcoin uses the Proof of Work (PoW) consensus mechanism.
• Scalability: Ethereum is improving scalability through sharding and other upgrades, while Bitcoin’s scalability is limited.

The future of Ethereum

The future of Ethereum is bright, and it continues to play a leading role in innovation in DeFi, NFT, and other fields. Continuous upgrades and developments are likely to further drive its adoption and value.

Ethereum (ETH) Price Up

As of 14:00 on August 22, 2024, the price of Ethereum (ETH) is $2,626.48, with 24-hour trading volume of $130.284 billion. ETH price has increased by 1.21% in the past 24 hours.

Price Moving Factors

Ethereum’s price increase may be attributed to the following factors:

• Improving market sentiment
• Positive expectations for Ethereum 2.0 upgrade
• Retail investors buying

Future Price Trend

While prices may remain optimistic in the short term, future price trends remain uncertain. Market sentiment, technical indicators and macroeconomic factors will all influence its movement.

Recommend

Investors should invest cautiously and be prepared for ETH price fluctuations. Carefully study market dynamics and consult a financial advisor to make informed decisions.

Short-Term Forecast

In the short term, the price of Ethereum is likely to continue rising, supporting its upward momentum as the ETH 2.0 upgrade approaches. However, there could also be profit-taking or sector rotation, leading to a price pullback.

Indicator

• Current Price: 2,626.48 USD
• 24-Hour Trading Volume: 130.284 billion USD
• Circulation Volume: 120,293,672.05 ETH
• Market Cap: 3,159.486 billion USD

The above is the detailed content of One article comprehensively introduces the Ethereum project. For more information, please follow other related articles on the PHP Chinese website!