Ethereum (ETH): Here's why its dominance in DeFi remains indisputable despite the many Ethereum killers that have been launched

Ethereum (ETH): Here’s why its dominance in DeFi remains indisputable despite the many Ethereum killers that have been launched





Ether, from the Ethereum blockchain, is the 2nd largest cryptocurrency in terms of capitalization. It is the native cryptocurrency of Ethereum which is the first blockchain to be a platform for the development of decentralized applications (DApp). Ethereum introduced the concept of smart contracts, NFTs, and many other features that contributed to the increased adoption of blockchain.

Ethereum (ETH) price: what is the current price?

Here is the live price of Ethereum.

Everything you need to know about Ethereum

Creation of the crypto ETH

Ethereum was launched in November 2013 by Vitalik Buterin, a Russian-Canadian computer nerd when he was 19 years old. His white paper, produced after three years of cryptography research and development, provided solutions to the limitations of Bitcoin.

In addition to the transfer of values, Buterin wanted to launch a real IT development platform hosting a new kind of applications, called decentralized (Decentralized Apps or DApp). These applications, like cryptocurrencies, benefit from the properties of the blockchain. They are decentralized and resist censorship. The execution of DApps is facilitated by smart contracts, which are programs that allow network users to exchange data.

Only Vitalik Buterin, one of the eight co-founders of Ethereum, is still actively working on Ethereum, with of course new talent around him. Charles Hoskinson and Gavin Wood launched competing blockchains (Cardano and Polkadot), while Anthony Di Iorio, Amir Chetrit and Jeffrey Wilcke moved on to other projects.

How does Ethereum work?

Ether, like Bitcoin, can be used to purchase goods and services. Its price has also risen rapidly in recent years, which could make it a speculative investment.

However, Ethereum is unique in that users can build applications that run on the blockchain the same way software runs on a computer. Personal data may be stored and transferred, and financial transactions may be processed using these programs. Additionally, through Ethereum Virtual Machine, Ethereum allows programs including smart contracts to interact with its blockchain.

Crypto ETH: our opinion and prediction for 2022

  • ETH Global Mirror Mag Rating: 7/10

Opinion on the project

Thanks to the many blockchain applications, Ethereum has become the center of decentralized finance. The network is very reliable and has the support of several large multinationals such as Microsoft, IBM and Banco Santander.

Price Volatility Notice

Ethereum is one of the most stable cryptocurrencies. Violent fluctuations are becoming less frequent and prices are becoming more predictable.

Mid-Term ETH Price Prediction

After its 2021 retracement, the price of ETH has become more attractive. We can take advantage of this to play the highest prices of 2021.

Long Term ETH Price Prediction

The $5,000 and $10,000 targets are expected as the Beacon chain that will swing Ethereum to proof-of-stake consensus is expected in 2022.

Conclusion – should you invest in Ethereum crypto?

Ethereum is the cryptocurrency project that is attracting the most interest from large companies. Its domination of decentralized finance remains indisputable despite the many ethereum killers that have been launched.

Useful resources for investing in Ethereum (ETH)

The information provided on this website should not be taken as investment advice, financial advice, trading advice or any other kind of advice and nothing on the website should be considered as such. Mirror Mag does not recommend that you buy, sell or hold cryptocurrencies.

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