Ethereum, which is a software project initially developed in early 2014 by a Swiss company, runs on a decentralised network. The Ethereum network is kept running by computers all over the world.
It is an open-source, public blockchain-based computing platform featuring smart contract (scripting) functionality. It provides a cryptocurrency token called “ether”. Its applications run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. Ether is a fuel operating the distributed application platform Ethereum.
Ether is also used to pay for transaction fees and computational services on the Ethereum network. It is essentially a form of payment made by clients of the platform to the machines executing the requested operations.
What you need to know about the Ethereum price prediction for 2020
Five ethers are created every block (roughly 15-17 seconds) to the miner of the block. Issuance of ether is capped at 18 million ether per year. Once the difficulty of mining Ethereum is adjusted, it makes it harder to mine
The daily issuance of Ethereum is making the market go up a lot. It’s also estimated that by July 2020 above 50% of Ether would have been mined.
The mining of Ethereum requires a fairly big initial investment. Your computer can become a node in the network that processes and verifies the transactions.
To start, you need a computer with internet access. Download a free wallet to your computer, one of several free miner programs and join in.
While some people and financial experts and doubtful on the longevity of cryptocurrency such as Ethereum and Bitcoin, the currency is drawing a lot of attention as more people wonder whether it’s a good investment.
Trading cryptocurrency is often based on supply and demand, so as demand increases, and supply expected to drop, it makes sense that the Ethereum price prediction for 2020 seems set to rise.