Ethereum is no one alt-coin and no two cryptocurrency in overall the crypto space. Vitalik Buterin with his eight partners started this journey in 2013. Ethereum become a headline many times. Currently, Ethereum is a major gossip for merge, where the conventional proof of work mechanism is being replaced by proof of stake.
From the idea of “code is law” Vitalik Buterin declare the Ethereum platform in 2013. The major difference between Bitcoin and Ethereum is; that Bitcoin is treated as a coin, and Ethereum is considered a platform for decentralized apps.
The total market capital of Ethereum is $200 billion. Ethereum is the second most powerful blockchain network after bitcoin. Ethereum works as a platform for decentralized apps where at least 6000 dAPPS are hosted.
How Ethereum comes to light:
Vitalik Buterin created the whitepaper of Ethereum in 2013. But he doesn’t have huge funds to invest and commence the development. Later he and other co-founders started crowdfunding, and within a very short time, they were able to collect the required funds. Finally, on July 30, 2015, the Ethereum project become live.
Ethereum Price fact:
- Starting price: $.40
- All-time high price: $4800
- Current price: 1300+-
Who developed Ethereum?
The Ethereum project had five co-founders: Vitalik Buterin, Amir Chetrit, Charles Hoskinson , Mihai Alisie, Anthony Di Iorio. Those five are consider as mega-five in ether. Beside those Gavin Wood, Jeffrey Wilcke, and Joseph Lubin also works in ethereium network. Only Buterin is actively working for the Ethereum blockchain currently. Cardano developed by Charles Hoskinson, and Gavin Wood founded Polkadot, which are considered Ethereum’s top rivals. The rest of them either left Ethereum for personal security reasons or building own blockchain companies.
How many total Ethereum in supply:
The supply of Ethereum is an infinite loop. However, in January 2021 total supply of eth ware 114 million. Today 15 September 2022, the total supply of eth was 120 million. It is considered after merging the number may reduce.
| YEAR | TOTAL ETHERERUM |
| 2015 | 72 million |
| 2016 | 87 million |
| 2017 | 96 million |
| 2018 | 104 million |
| 2019 | 109 million |
| 2020 | 114 million |
| 2021 | 118 million |
| NOW | 120 million |
How Ethereum works?
Ethereum is built on basic blockchain technology. The core programming language behind Ethereum is solidity. This is developed by Vitalik Buterin. Solidity is currently the no one blockchain programming language over the space. Here the creation of a block is almost the same as any other blockchain technology.
To validate the block there are two major mechanism exist:
- Proof of work
- Proof of stake
Proof of work:
This proof of work mechanism works for miners. People who mine have the power to validate new blocks or make any decision in any validation process. This process needs heavy investment in mining computers where huge energy is consumed.
Proof of stake:
In proof of stake, Ethereum holders who have a minimum no of Ethereum in stock can validate any block. Mining Ethereum is doing nothing here. This process is 99.95% energy efficient. Recently Ethereum embrace this proof of stake mechanism.
If you interested more on blockchain
Market share of Ethereum
The total market size of Ethereum today is 190 billion one year ago which was 460 billion. Which is the second largest in terms of market capitalization after Bitcoin. Timeline of the market capitalization of Ethereum:
| Year | Market Capital |
| 2018 | $14 Billion |
| 2019 | $18 Billion |
| 2020 | $84 Billion |
| 2021 | $438 Billion |
| 2022 | $190 Billion |
What is the future of Ethereum:
So far Ethereum is the most organized crypto platform in this space. In many ways, Ethereum’s total value and transaction are slow from time to time. But as a crypto platform, Ethereum will make a strong position in near future. The biggest event in the crypto space is Ethereum merge. This makes Ethereum PoW (Prof of work) to PoS (Prof of Stake) consensus mechanism. Which is believed to be 99.95% more energy efficient.
Many market experts expect the price of Ethereum will skyrocket as previously. Some believe in 2024 the price per Ethereum will be $7000 or high. Some believe the price will be $10000 within 2028.
Ethereum 2.0 is real now, It will more green and lowest energy consuming, swifter, and less time-consuming.Besides all those numbers Ethereum covers 90% market share of the total NFT market.
Despite being optimistic there is debate about the merge. The revel group of PoW declares they will continue with Ethereum classic.
In the end;
All most all the crypto market analysts agree that the crypto market is at a very premature stage. Very few governments welcome token economics. There are some ups and down going in this market. Ethereum is one of the strong competitors in this space. The recent development of Ethereum will make a significant change in the crypto industry. We don’t say invest your all the money in Ether. From the expert opinion, invest 1 to 5% of your portfolio in cryptocurrency.
