Ethereum (ETH) Wallet

Ethereum Value

Ethereum is the second biggest cryptocurrency on the market and was inspired by Bitcoin itself. The Ethereum network allows users to create dApps and smart contracts, which it is most known for. The project was established in 2013 by a Russian-Canadian programmer, Vitalik Buterin when he was just 20 years old. Buterin refers to the Ethereum network as a “World Computer” as it is not tied to one computer only and can run simultaneously on several devices. Ether (ETH), Ethereum’s native currency, is used as gas which refers to fuel for the execution of smart contracts and the functioning of dApps.

Ethereum Difficulty

Network or mining difficulty refers to the difficulty of a problem that a miner must solve to create a new block on the blockchain. It is a value that represents the number of times the hash function should be calculated before it is solved. Each network has its own average time for a block creation that has been preset, meaning that if the number of miners goes up so will the network difficulty to maintain the preset average time and vice versa. Due to the maintenance of the said average time, Ethereum difficulty will vary on different days. The highest Ethereum difficulty was recorded on June 8th, 2022 when it hit 15,101.178 TH.

Ethereum Merge and the PoS Era

The Ethereum Merge has already taken place, transitioning the network from the Proof-of-Work (PoW) consensus algorithm to the more efficient and eco-friendly Proof-of-Stake (PoS) algorithm. With the completion of the Merge, the existing Ethereum execution layer and the Beacon chain were combined, marking the beginning of the PoS era for Ethereum. This significant milestone has made Ethereum more scalable and sustainable, attracting even more users and developers to the platform.

Ethereum Staking and Mining

For those wondering how to stake ETH or how to mine Ethereum, the PoS Ethereum offers staking opportunities. Staking Ethereum involves locking up a certain amount of Ether in a wallet to support the network security and earn rewards in return. As the network has transitioned to PoS, traditional mining as it was known under PoW is no longer applicable.

Ethereum Supply and Future Value

Curious about how many Ethereum are there and what will Ethereum be worth in 2030? The Ethereum network has no hard cap on the total number of Ether tokens that can be created. However, with the shift to the Proof-of-Stake consensus, the issuance rate is expected to decrease over time. As for Ethereum's future value, predictions vary, and it's important to note that the cryptocurrency market is highly volatile and subject to change.