Ethereum For Newcomers: What Is ETH Coin? How To Mine Ethereum? Where To Buy Ethereum ETH Coin?
What Is Ethereum ETH Coin

Ethereum For Newcomers: What Is ETH Coin? How To Mine Ethereum? Where To Buy Ethereum ETH Coin?

By StealthEX | StealthEX Blog | 7 Dec 2021


Ethereum is a blockchain project second only to Bitcoin in terms of capitalization and popularity. Smart contracts have created a convenient environment for dApps developers, and the blockchain is used for instant P2P payments. Keep reading the new StealthEX article and find more about Ethereum crypto.

The current ETH coin price is $4361.075.

CoinMarketCap

Ethereum Brief History

  1. The idea of a platform where blockchain technology would be used for creating, implementing DeFi financial services, apps, and games was announced in November 2013.
  2. In April 2014, Ethereum Switzerland GmbH was created and the Yellow Book was released, where a technical description of the protocol was given.
  3. In August 2014, the development of Solidity, the proprietary programming language used to write most smart contracts, began.
  4. On July 30, 2015, the main network was launched. The first version of the protocol was Frontier. It didn't have the best security performance. The project interested banks, and they began testing smart contracts on the platform.
  5. On October 30, 2015, the project was supported by Microsoft Corporation, releasing tools for developing apps and programs on the blockchain. 
  6. In December 2020, the ETH2 zero phase was launched. This is a new blockchain that will first run in parallel with ETH1 and then merge. ETH2 will solve the problem of low network capacity, increase its protection against attacks and energy efficiency.
  7. The new circuit runs on the PoS algorithm and acts as a testing ground for its operation. The project includes 4 phases, after which ETH will completely abandon PoW.

ETH Features

ETH is a native Ethereum blockchain token. Its creators call it modern rare digital money, which is protected by cryptography methods, belongs only to its owner and is suitable for p2p transactions. 

Hundreds of tokens have been created on the blockchain, but ETH stands out among them because of such features:

  1. It is a cryptocurrency for executing smart contracts. Customers pay in coins for using the platform's functionality. A commission is charged to the miners who process and verify the transactions.
  2. It acts as an incentive for users to maintain the functionality and security of the network. ETH plays the role of an engine. Whereas previously this could only be done through mining, with PoS, it is possible to maintain security through stacking.
  3. This token underpins the decentralized financial system.

The token is not backed by stocks, natural resources, or gold reserves. This leads to high exchange rate volatility. However, developers are looking for approaches to increase the price and prevent prolonged declines: burning some coins, making block mining more difficult, regular forks, and increasing investor interest.

How To Mine Ethereum?

  1. The most important thing in mining is to choose the right video card. The primary criterion is the amount of video memory that must be from 6 GB. Also, the hash rate is important because it shows how many crypto operations a card makes per second. 
  2. Then you need to choose a pool, based on the duration of the service, excellent reviews, the number of miners, and the payment scheme.
  3. The next step is to install the mining software and register a wallet.
  4. Since ETH is moving to PoS, soon it won't be impossible to mine tokens. This process will be replaced with staking, and now users can try how it works.

Where To Stake Ethereum?

Users can stake their tokens on the Ethereum platform. If they want to do this alone, they must have from 32 ETH. Otherwise, they can join pools for staking. Both ways, they will receive rewards for batching transactions into a new block or checking the work of other validators.

People asking "Should I stake my Ethereum?" need to know the key benefits of this process:

  1. It's sustainable. Validators don't need demanding PCs to join a proof-of-stake system, all features are available from a laptop or smartphone. As a result, Ethereum becomes better for ecology. 
  2. Everything is accessible. Hardware requirements are simplified and everyone can try staking without having 32 ETH. It makes this project more decentralized and safe.
  3. Provides access to sharding. It's possible only with PoS. This algorithm doesn't let malicious miners control shards. 

Is Ethereum A Good Investment?

After all, Ethereum is a profitable cryptocurrency that shows impressive growth rates. The coin is available for payment on many sites, and it is convenient to store it on different wallets. The move to PoS will increase its liquidity.

What Will Ethereum Be Worth In 2025?

Most experts have positive price predictions. As a CoinPriceForecast team expects, it will reach $12,122 at the end of 2025. According to WalletInvestor, ETH will cost over $19,766 by the same time. 

Where To Buy Ethereum ETH Coin?

StealthEX is the most secure platform for ETH buyers. It offers to select from over 400 cryptocurrencies for the transaction, so those thinking about how to buy ETH with cash, or maybe how to swap ETH for BNB should choose it. Since only basic information is needed and the process won't take much time. 

How to buy ETH crypto? Just go to StealthEX exchange and follow these easy steps:

  1. Choose the pair and the amount for your exchange. For example, BTC to ETH coin.
  2. Press the “Start exchange” button.
  3. Provide the recipient address to which the coins will be transferred.
  4. Move your cryptocurrency for the exchange.
  5. Receive your coins!

Buy ETH Coin

You are more than welcome to visit the StealthEX exchange and see how fast and convenient it is. 

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The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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