Ethereum: how it moved in the market today

ether is a digital platform applying blockchain technology (Blockchain) and extends its use to a variety of applications, while Ether is its native cryptocurrency. In the world of digital finance, it’s common for cryptocurrency to be referred to as a network, even though they’re not really the same thing.

the Ethereum platform, was founded in 2015 by programmer Vitalik Buterinwanted to be an instrument for decentralized and collaborative applications on which Smart Contracts (dAPPs) can be concluded

However, among its shortcomings is its limited scalabilitythat is, it only allows 15 transactions per second, a situation that already kept Ethereum in check in December 2017 the CryptoKitties app ‒a game where users could trade digital kittens for speculative purposes‒ led to massive platform congestion with many transactions failing. Version 2.0 is currently being worked on to make improvements.

Like bitcoin, ether’s price has skyrocketed in a short period of time. In January 2016, Ether was trading around one dollar and currently has an all-time high of 4891.7 units. Nor has it been spared major setbacks.

Ethereum cryptocurrency price

Hour: 13:05 (UTC time)

Costs : $1287.41

Change in the last 24 hours: -1.52%

change in the last hour: -0.78%

Popularity by capitalization: #two

The world of virtual currencies

cryptocurrencies
(Photo: File)

cryptocurrencies they cease to be alien and begin to invade everyday language and arouse the interest of those who care about finances or even life legalized in some regions of the world.

As the name suggests, virtual currencies Use cryptographic or encryption methods Conduct transactions in a decentralized system and most of them through blockchains (Blockchain), which distances them from traditional models in which banks act as intermediaries.

Its innovation has made many people interested in investing in digital currencies as their value has increased significantly in recent years Bitcoin, Ethereum and Dogecoin the most popular and the ones with the highest capitalization on the market.

Each of these units is created by a process called “mining” and users can acquire them through various cryptocurrency agents or exchanges and then store them in “cryptographic wallets” or conduct various transactions with them through unique keys.

Even though In 2009, Bitcoin became the world’s first cryptocurrencythe truth is that these are booming in finance, so their use is expected to increase in the not too distant future.

Cryptocurrencies have several factors that make them unique: not controlled by any institution; not need intermediaries in transactions; and almost always use accounting blocks (blockchain) to prevent new cryptocurrencies from being illegally created or transactions already made being modified.

“Cryptocurrencies"
A Bitcoin ATM. (Photo: Special)

However, by not having any regulatory authorities like a central bank or similar bodies they are described as unreliable, as volatilePromote fraud, have no legal framework that supports its users, allow illegal activities to operate, among other things.

Although it could be a paradox, cryptocurrencies in turn guarantee their miners security in relation to the network they are on (framework) and that implies code management; Breaking this security is possible, but difficult because whoever would try it would have to have even more computing power than Google itself.

Anyone who invests in these types of digital assets must be very aware that this form entails one high capital riskWell, just as it can spike, it can also crash unexpectedly and end its users’ savings.

To save them, users must have a digital purse or wallet, which is actually software with which it is possible to store, send and transact cryptocurrencies. In reality, this type of wallet only stores the keys that mark an individual’s ownership and right to a specific cryptocurrency, so these codes are the ones that actually need to be protected.

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