The main contender to Bitcoin in the crypto world, but still - Ether is seen as the number one by most people for DeFi transactions, since many alternative tokens are created on the ERC-20 blockchain. While the main advantage is the scale, the main drawback is the transaction costs. However, following the transition to PoS, the transaction costs have gone down significantly. Now the merge has taken place and once ETH 2.0 is fully rolled out, hopefully ETH will reach even higher usage.
A Bit About Ether
Ethereum is the blockchain on which Ether operates. In many ways, it’s just like Litecoin, BTC, and any other digital coin you might have heard about. However, the only difference with Ethereum is the sheer scope of the network. The first advantage is that compared to many other coins, it’s fast and highly reliable. The cost of transactions is competitive. For instance, you’ll need around $100 to complete your transactions even for small businesses. That’s a good rate, compared to other cryptocurrencies that might charge you way more than that. Many online and offline stores let their customers complete transactions through ETH, thereby making it highly reliable.
The leader of DeFi coins, allowing anyone to deploy decrentalized apps.CryptoLists.com
Since its launch in 2015, Ether has proven to be one of the safest digital currencies in the world. It’s safe, convenient, and is not controlled by any decentralized bank or government. That’s the reason it’s fast becoming every trader and user’s favourite coin. The system goes beyond just leveraging a technology that encourages the use of crypto. It’s currently known to be the largest and also the most open-ended software platform. For example, Ether makes it possible to deploy contracts. No downtime or fraud has been reported about ETH since it was launched more than five years ago. Additionally, it uses its own unique programming language that operates on blockchain. Thus, developers can easily craft and launch an array of applications.
Utility of Ether?
Most new crypto coins use the Ethereum blockchain and are known as ERC-20 tokens, which makes Ether most useful cryptocurrency in the whole ecosystem. Many brilliant developers have now moved on from Ether and are starting new coins and tokens, but they don't come close to the same level as Ether as of time of writing.
Ether Price details
Last updated: January 25, 2023, 1:57 pm
›› ETH tokenomics and social media
Advantages of Ether+ Ether is the most used cryptocurrency in the world.
+ Very quick deployment over the last 5 years.
+ An amazing network size, scalability and performance.
+ Ether ranks as the main coin for smart contracts and dApps.
+ Ether now uses Proof of Stake, giving staking rewards and being more environment friendly.
Disadvantages- High gas and transaction fees (often over 80 USD at peak hours).
- Scaling issues are becoming a bigger issue every year.
- High fluctuation in price, even more than BTC and most other cryptos.
Costs▪ Rated at 7/10
The gas fees for transferring Ether have skyrocketed the recent years. This is one of the main issues on the current Ethereum network and for tokens launched under the ERC-20 standard. This is also why the BSC (Binance Smart Chain) tokens have become hugely popular as transfer costs are a lot cheaper. Since the Ethererum Merge, the costs have lowered somewhat and this should continue to happen as further udates roll out.
Reputation and Buzz▪ Reputation rated at 10/10
▪ Buzz rated at 10/10
Ether has a stellar reputation, that is drawn down by the high transactions fees. The stability and buzz around ETH is unlikely to die down any time soon. After all, Ether is a giant in the cryptocurrency space and will continue to be for a long time to come. Alongside Bitcoin, Ethereum (ETH) is considered 'too big to fail' by most experts.
Some of the developers involved in Ether▪ Rated at 10/10
The logos below represent some of the developers who have been involved in Ether. Check out the developer about page, by clicking the logo. There you can see what coins they have developed and at what exchanges, brokers and trading platforms their coins are available.
Why is Ether so great?
It's got a lovely architecture and can handle millions of transactions a day.
What is the highest value Ether's ever had?
Would you like to purchase or invest in ETH? Well, it’s a goldmine. As recently as November 2021, the crypto hit the highest value in its history, at $4812 for every coin. Though it later went down, there’re even better days ahead.
Is It safe to purchase Ether today?
Whether you’re an investor, a random user, or a company, you should consider investing in Ether. The system is one of the safest, which is why it has many users globally. Since you can shop and complete transactions without revealing your identity, the system is one of the safest out there.
Where can I learn how to trade Ether?
It’s possible to learn how to trade ETH on trusted online websites. Just do your due diligence and read reviews on various companies that offer training on Ether. Though some websites are entirely free, you should go for the ones that charge a little fee since they tend to have the best resources to share.
History of Ether
2013 - Ethereum was formed in 2013 by the Russian-Canadian developer Vitalik Buterin.
2014 - Gavin Wood, Charles Hoskinson, Anthony Di Iorio and Joseph Lubin joined the Ethereum project, the blockchain behind the native coin Ether.
2014 (22nd of July until 2nd of September) - Ether raised 59.03 million USD in their ICO. The ICO price was set to 0.31 in the end. In the beginning, you could buy 2000 ether for 1 bitcoin.
2015 (30 July) - Initial release of Ether.
2017 (March) You could install the main wallet used for Ether called "Ethereum mist wallet" on PC and they also released a Mac OS app.
2017 (September) - Ether is described as the crypto fuel for the Ethereum network. Both the webdesign and feeling looks and feels a bit old fashioned.
2018 (January) - The first spike of Ether, when it reached 1366 USD on the 14th of January, 2018. In April, it backed to 380 USD and in December the ETH price was slightly above 100 USD.
2021 (August) - The impressive amount of 442,647 tokens now follow the ERC-20 token standard, the network behind Ethereum.
2022 (15th of September) - Ethereum switched from proof of work to proof of stake, a more sustainable system that gives staking rewards instead of rewards to miners.