Uncertainty surrounds Ethereum: this is how it is listed today, June 23

Ethereum is one of the most coveted cryptocurrencies in the digital market (Illustration: Jovani Pérez/Infobae)
Ethereum is one of the most coveted cryptocurrencies in the digital market (Illustration: Jovani Pérez/Infobae)

ethereumthe second most popular cryptocurrency on the market, has been experiencing various delays in updating its version 2.0, which in turn generates uncertainty for investors and miners who have witnessed the collapse of the digital currency in recent weeks.

Although this Thursday Ether has somewhat recovered its value and it is above a thousand dollars, a few days ago it had dropped to the threshold of 859 dollars.

Ether, commonly called as Ethereum, is the number 2 cryptocurrency in terms of market capitalization, making it one of the digital currencies that arouses the most interest among miners (users of cryptocurrencies).

Ethereum is a platform for blockchain open source that runs with the use of its native currency, called Ether or ETH, so even though people use these names as synonyms they are different things.

Ether it is a token that is used only on the Ethereum blockchain to pay transactions. This token is responsible for powering almost everything that happens on the network, which can be used by anyone to create and run smart contracts, which are software programs that work autonomously and without user intervention.

Lo and behold, the growth of Ethereum can be attributed in part to its function of smart contracts, because thanks to this innovation it implemented the bases for the decentralized finance industry, decentralized apps and non-fungible tokens such as NFTs.

The platform Ethereum was created in 2015 by the programmer Vitalik Buterinwith the intention of promoting an instrument for decentralized and collaborative applications.

However, among its shortcomings is its limited scalability, that is, it only allows 15 transactions per second, this situation already put ethereum in check when in December 2017 the CryptoKitties application ‒a game where users could exchange digital kittens for speculative purposes‒ led the platform to a great congestion in which many transactions did not take place.

According to the Binance portal, the ethereum digital currency currently has 121.27 million units created.

Ethereum keys.  (Illustration: Anayeli Tapia)
Ethereum keys. (Illustration: Anayeli Tapia)

The cost of the ethereum cryptocurrency for this June 23 at 1:05 p.m. (UTC time) is $1,115.98. This means that the digital currency reported a change in 3.33% in the last 24 hours, as well as a movement of 0.96% in the last hour.

Due to its level of capitalization, this digital currency occupies the position number 2 among the most popular.

A cryptocurrency is a digital medium of exchange that does not physically exist and uses cryptographic encryption to ensure integrity in your operations, while maintaining control over the creation of your new units.

Bitcoin was the first to be launched on the market and was later followed by others that have also had great relevance, such as Litecoin, Ethereum, Iota, Tether, Cash, Ripple, Decentraland, even some born from memes like Dogecoin.

Cryptocurrencies have several factors that make them unique: not being controlled by any institution; not require third parties in transactions; and almost always use accounting blocks (blockchain) to prevent new cryptocurrencies from being created illegally or transactions already made from being modified.

However, by not having regulators such as a central bank or similar entities they are accused of being unreliable, of being volatile, of promoting fraudnot having a legal framework that supports its users, allowing the operation of illegal activities, among others.

Although it could be a paradox, cryptocurrencies in turn guarantee security to their miners in terms of the network in which it is located (framework) and that implies code management; Hacking this security is possible but not so easy to achieve, because whoever tries it would have to have a computational power even higher than that of Google itself.

A representation of the Ethereum cryptocurrency.  (Photo: REUTERS/Dado Ruvic/File Photo)
A representation of the Ethereum cryptocurrency. (Photo: REUTERS/Dado Ruvic/File Photo)

To acquire and exchange them you can through specialized portals. Its value varies depending on the supply, demand and commitment of the miners.so it can change faster than traditional money, but the more people are interested and want to buy a given currency, the higher its value.

However, whoever invests in this type of digital currency must be very clear that this form brings with it a high risk to the capital, since, just as there may be an increase, it may also have an unexpected collapse and end the savings of its users.

To store them, users must have a digital purse or wallet, which is actually a software through which it is possible to save, send and make transactions of cryptocurrencies. In reality, this type of wallet only stores the keys that mark the ownership and right of a person over a certain cryptocurrency, so these codes are the ones that must actually be protected.

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