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Vitalik Buterin got the idea for Ethereum in 2013, after failed attempts to convince the Bitcoin core team to expand Bitcoin’s capabilities. Specifically, Vitalik sought to make a digital currency that was Turing complete.
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 ethereum

Features of Ethereum

Smart Contracts
Smart contracts are like any other contract with the difference being that the maintenance and execution of the contract are trustless and automated.
Smart contracts can operate independently of each other or you can arrange multiple smart contracts to be dependent on each other. In the latter case, an action that triggered a move by one smart contract could be set as the catalyst to execute another smart contract.
Decentralized Applications (dApps)
Decentralized applications are web applications built on the Ethereum blockchain that are backed by smart contracts. Developers can build decentralized applications on the Ethereum blockchain in order to create their own blockchain with a dedicated tokenized asset. Decentralized applications can also be leveraged to develop uncensorable web applications.
Ethereum profile
Frequently Asked Questions
Frequently Asked Questions
Frequently Asked Questions mobile

What is Ethereum?

The first Ethereum white paper was released later on in 2013. In it, Vitalik laid out his plans for a blockchain protocol that could execute smart contracts and contain an infrastructure that supports the creation and maintenance of decentralized applications (dApps). By 2014, the Ethereum Foundation, a non-profit organization that supports Ethereum’s research and development, had been created. The Ethereum Foundation still provides the majority of funding to research teams that build on the Ethereum platform. Ethereum is a distributed public blockchain network. It is programmable meaning developers can build and deploy decentralized applications on the Ethereum network. The Ethereum network has a native token, ETH, which serves as a means of payment for transactions. Known as the “decentralized platform for money”, decentralized financial applications, or DeFi, have been built on the Ethereum network enabling a user to borrow, lend or invest their digital assets. Additionally, Ethereum can be used to build Decentralized Autonomous Organisations, or DAO’s. The Ethereum network is also used as a platform to launch digital tokens. The project is seeking to expand its scalability by implementing a proof-of-stake consensus algorithm.

Ethereum Technology

Ethereum’s decentralized application (dApp) technology was a major innovation for blockchains. The features of decentralized apps are:
Open Source - Decentralized applications (dApps) has its codebase publicly available so that anyone can find bugs or offer improvements.
Decentralized - All of the data stored on the blockchain is shared equally among all participants of that network.
Game theory - Those contributing value to the decentralized application (dApp) are rewarded. Further incentivized them to make positive contributions to the application.

How to mine Ethereum?

To get started, you will need to decide which type of hardware you want to run in your computer to mine Etherum. The best option is a Graphical Processing Units (GPU) and Central Processing Units (CPU). You will want the GPU to have the highest hash rate possible. You can even connect multiple GPUs together to yield even more hash rate power.
After you have purchased and installed your hardware, the next step is choosing the best software to use to mine Ethereum. First, you need to set up a node and connect it the Ethereum protocol. This will require you to have enough storage space to download the entire Ethereum blockchain. To connect your node to the network you can use software such as MinerGate or Ethermine.
Once you have connected your node to the network you are all set to begin validating and mining on the Ethereum blockchain.

What is the benefits of using Ethereum smart contracts?

There are three essential pieces to a smart contract. First, the people or parties involved in the contract program their terms of the agreement into the contract. Second, there must be a clearly defined subject of the agreement that acts as the basis of the interaction for the parties on each side of the contract. Finally, the smart contract must have specific terms that can be programmed in mathematical terms.
The benefits of using smart contracts are:
Autonomy — Smart contracts put you in control of the contract. There are no trusted third parties involved who can make decisions on your behalf.
Affordable — Normal contacts can be very expensive with payments for notaries, estate agents, and attorneys. All of these costs can be avoided by using smart contracts.
Efficiency — When using smart contracts you make the execution of the contract faster and easier as you are removing all intermediaries that generally require more attention and thought.

Risks of Ethereum Trading

Investment Risk Ethereum is one of the most traded digital assets and has very volatile price swings. The price of ETH regularly moves a lot in very short periods of time. This means that ETH is a very volatile asset. Increasing volatility is generally seen as an increase in the overall risk. Digital assets don’t have the liquidity of the stock market, whenever there is a large buy or sell order the price will reliably make a significant move. Security Risk Ethereum’s security risks are more complicated than other assets such as stocks or real estate. It is important to reduce your attack surface as much as possible. You can do so by holding your Ethereum in a wallet that is not connected to the internet such as MyEtherWallet. This requires a hacker to get your private key before they could gain access to your wallet. When using a wallet that is connected to the internet, a hacker may only need your password to a website in order to steal your Ethereum. When using an offline wallet with a properly recorded and stored private key, you have significantly reduced your attack surface. Regulatory Risk Ethereum has a regulatory risk because there is a debate over if it is a security or now. Governments know that Ethereum can be used to launder money and they have a general lack of incentives to help Ethereum and other digital assets as they see them as a competitor to their national FIAT currency. Because of this, there is a possibility that governments could apply unusually harsh regulations for using or owning Ethereum. They could even ban the digital currency outright and make its use or possession against the law. This is a major risk as any such action taken by a powerful nation could negatively affect the value of the Ethereum blockchain.
Conversion rates US Dollar (USD) to Ethereum (ETH) 09/28/2022 10:33 AM
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