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What is Ethereum?

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Release： 2024-08-22 15:35:02

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Ethereum is a blockchain-based distributed computing platform for creating and running decentralized applications (dApps). Its main functions include: blockchain foundation, Ethereum (ETH), smart contracts, decentralized applications (dApp) and developer community.

What is Ethereum?

What is Ethereum?

Ethereum is a distributed computing platform based on blockchain technology for creating and running decentralized applications (dApps).

In-depth understanding of Ethereum:

1. Blockchain Basics:
Ethereum is built on blockchain technology, which consists of linked data blocks that contain transaction records. These blocks are encrypted and dispersed across the network, ensuring data security and immutability.

2. Ethereum (ETH):
Ether is the cryptocurrency associated with the Ethereum blockchain and is used for transaction fees and gas fees (to pay for computing resources) on the platform.

3. Smart Contract:
Smart contracts are program codes stored on the Ethereum blockchain. They automatically enforce predefined contract terms without the need for third-party or human intervention.

4. Decentralized Applications (dApps):
The Ethereum platform allows developers to create blockchain-based applications that are not controlled by a central authority. These applications can perform a variety of tasks such as decentralized finance, supply chain management, and social media.

5. Developer Community:
Ethereum has a vibrant developer community who are constantly innovating and expanding the functionality of the platform. This ensures the continued development and popularity of Ethereum.

Ethereum (ETH) Price Up

As of 14:00 on August 22, 2024, the price of Ethereum (ETH) is $2,626.48, with 24-hour trading volume of $130.284 billion. ETH price has increased by 1.21% in the past 24 hours.

Price Moving Factors

Ethereum’s price increase may be attributed to the following factors:

Improving market sentiment
Positive expectations for Ethereum 2.0 upgrade
Retail investors buying

Future Price Trend

While prices may remain optimistic in the short term, future price trends remain uncertain. Market sentiment, technical indicators and macroeconomic factors will all influence its movement.

Recommend

Investors should invest cautiously and be prepared for ETH price fluctuations. Carefully study market dynamics and consult a financial advisor to make informed decisions.

Short-Term Forecast

In the short term, the price of Ethereum is likely to continue rising, supporting its upward momentum as the ETH 2.0 upgrade approaches. However, there could also be profit-taking or sector rotation, leading to a price pullback.

Indicator