If you’re a fan of cryptocurrencies, you’ll be interested to learn about Ethereum – one of the biggest blockchain platforms around today.
Back in 2011, Bitcoin finally reached the price of $1. This was an iconic moment for the crypto world and effectively kickstarted the digital currency trend.
Now, in 2022, everyone is talking about cryptocurrencies. The excitement and interest levels have never been so high.
As a result of this, lots of blockchain platforms have started to grow in popularity across the internet, with one of the main ones being Ethereum.
Currently, Ethereum is a big driver behind the crypto trend. This guide is going to take a closer look at Ethereum, providing you with a brief history from its inception to its present-day outlook.
What is Ethereum?
Ethereum is a public blockchain platform. In a nutshell, a blockchain platform is a decentralized place (meaning no government control) where people can make transactions over the network. There’s no downtime or interferences from 3rd parties, which makes it very appealing to people.
The applications and contracts on Ethereum use Ether, which is Ethereum’s digital network currency. Think of Ether as the Bitcoin of Ethereum’s world.
Currently, Ether is the 2nd largest cryptocurrency in the world (just behind Bitcoin). You can examine the ethereum price today at okx.com, which is currently performing well in the market.
When was Ethereum Created?
The idea for Ethereum was first thought up by Vitalik Buterin way back in 2013.
In 2014, development work began before (finally) the network went live in 2015. The network was only able to go live due to the hard work that Buterin and the other co-founders put into crowdsourcing, which saw them raise more than $18 million in exchange for Ether tokens (which are incredibly valuable today).
Since 2015, Ethereum has grown year by year and now has hundreds of different developers working across the network every day. Ethereum has grown so much that Ether is the biggest competition that Bitcoin faces.
Is Ethereum Worth Buying?
The question on many people’s minds is this: is Ethereum worth buying?
There is no simple answer to this question. Like with all cryptocurrencies, there is a risk involved, as today’s crypto market can be volatile. The reasons for this include:
- Supply and demand
- Media hype
- The performance levels of specific cryptos like Bitcoin
As a long-term investment, Ethereum is worth considering. However, as the purchaser, you need to be able to handle potential volatility in the market, as this is likely to happen at several points throughout the year. For example, Ethereum’s price value may suddenly go up (which is great) or it might suddenly drop.
Ethereum 2.0
It’s also worth mentioning that Ethereum 2.0 (the blockchain update) is set to go live this September. When it does, the network will be more secure and scalable, making it more appealing to investors. If Ethereum 2.0 turns out to be a success, then your investment will be more than worth it.
