In light of the wide spread of digital currencies and a great demand by investors, especially after the popularity of Bitcoin as a digital currency, however, Ethereum, which has spread in the past few days.
Ethereum is not just a currency but a complete system and software platform that acts as a decentralized internet and a store for decentralized applications; That is, it is not under the control of one party. Although the majority of online businesses and companies are built on a central system, this system is operated by thousands of devices around the world.
This independent electronic system is confirmed to a digital process to meet the computational needs required to run any application or program, and this is represented by the digital currency Ether (ETH).
In 2015, the Ethereum currency was launched in Switzerland by its founder Vitalik Buterin, and became available throughout the Arab world for the first time through the (BitOasis) platform in February 2017, so that the Ethereum currency is just part of the Ethereum smart contract applications.
What is the price of ethereum against the dollar?
The Ethereum currency was traded for the first time on August 7, 2015, for $2.77, and then its value decreased after only one day to $0.81, and its value continued at $1 until early 2016.
During 4 years in the world of cryptocurrency trading, the value of Ethereum increased significantly. In December of the year 2020, the value of the currency amounted to 567.6 dollars, while the value of Ethereum on March 22, in our current year 2022, amounted to about 2860.64 dollars.
Are Ethereum and Bitcoin the same?
Bitcoin is the first stable digital currency, and Ethereum is part of the Ethereum project, and the points of contention between them are:
- Bitcoin allocates a maximum of 21 million bitcoins, but the creation of Ethereum is an infinite number.
- Bitcoin and Ethereum adopt Blockchain technology, allowing the history of each coin to be checked and confirmed.
- Bitcoin mining can be done through industrial mining farms, while in decentralized Ethereum it can be done by individuals and users.
- Bitcoin and Ethereum operate on independent protocols, which means that some transactions that may be permitted on one platform may not be permitted on the other.