Know Your Crypto: Ethereum (ETH)

Ethereum is a technology for building apps and organizations, holding assets, transacting and communicating without being controlled by a central authority.
crypto traders are closely-watching for signs that Ethereum could maybe overtake bitcoin as the largest cryptocurrency by value.After the merge.

Ethereum, however, has an infinite supply. In January 2021, there were 113.5 million tokens in circulation. As of April 2022, there were roughly 120 million. There are some predictions that after shifting the Ethereum process from PoW to PoS, the supply of Ethereum may be reduced.

The difference between Ethereum and Bitcoin is the fact that Bitcoin is nothing more than a currency, whereas Ethereum is a ledger technology that companies are using to build new programs. Both Bitcoin and Ethereum operate on what is called “blockchain” technology, however, Ethereum’s is far more robust.

But the main difference between Bitcoin and Ethereum is the use case for each. Put simply, Bitcoin is mostly known as a store of value, and Ethereum supports smart contracts and secure financial transactions

Ethereum is worth buying because, in terms of fundamentals, Ethereum is undoubtedly one of the best cryptocurrencies in the market today. It is used as a launch platform for all kinds of decentralized applications, ranging from Defi to games and even NFTs.

On the Ethereum blockchain, gas refers to the cost necessary to perform a transaction on the network. Miners set the price of gas based on supply and demand for the computational power of the network needed to process smart contracts and other transactions.

Ethereum is a metaverse magnet because of the widespread adoption of its blockchain and support for smart contracts. Perhaps Ethereum won’t be the biggest winner among metaverse cryptocurrencies, but it’s a pretty good bet to be one of the winners.