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Cryptocurrency market today: what is the price of ethereum

ethereum is a digital platform that adopts blockchain technology (blockchain) and expands its use to a wide variety of applications, while ether is its native cryptocurrency. In the world of digital finance, it is common for cryptocurrency to be called the network, although in reality they are not the same.

the ethereum platform, founded in 2015 by programmer Vitalik Buterinsought to be an instrument for decentralized and collaborative applications on which smart contracts (dAPPs) can be made

However, among its shortcomings is its limited scalabilitythat is, it only allows 15 transactions per second, this situation already put ethereum in check when in December 2017 the CryptoKitties app ‒a game where users could trade digital kittens for speculative purposes‒ led the platform to a huge congestion in which many transactions failed to take place. Currently working on version 2.0 to make improvements.

Like bitcoin, the value of ether skyrocketed in a short period of time. In January 2016, ether was trading around one dollar and currently has a record high of 4891.7 units. Nor has it been spared from major disasters.

ethereum cryptocurrency
Ethereum keys. (Illustration: Anayeli Tapia)

Ethereum cryptocurrency price

Hour: 1:05 p.m. (UTC time)

Cost : 1397.08 dollars

Change in the last 24 hours: 4.74%

change in the last hour: -0.06%

Popularity by capitalization: #2

Ethereum and its latest update

After several months of delay and with the fear that it would never happen, finally the September 15, 2022 Ethereum carried out its long-awaited merger or update to the new level 2.0 with the promise of improving the user experience of this cryptocurrency.

“The Merge”, English for “The fusion”is a transformation in the way Ethereum processes transactions and how new Ether tokens are created.

ethereum
Representation of the Ether cryptocurrency. (Reuters)

This merger is about combining the Ethereum blockchain with a new, separate blockchain known as proof-of-stake, which It reduces energy consumption of the Ethereum blockchain by 99.9%, according to its own developers, which makes it more “friendly” with the environment while transactions would be cheaper.

its defenders believe that the merger will give Ethereum a favor over its main rival, Bitcoinas it could increase its use.

In the Proof Stake process, Ether owners will lock set amounts of their cryptocurrency to verify new records on the blockchain, earning new coins in addition to their “staked” crypto.

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