Ethereum ETH

On 2023-06-10 the current Ethereum price/exchange rate is 1,668.94 EUR.

Ethereum (ETH) is an open-source blockchain platform (network) that has its own cryptocurrency Ethereum (Ether) and its own programming language Solidity.

Ethereum is designed to be more customizable and flexible value exchange technology. 

It is more than just a network for value transfer and recording transactions in the blockchain. 

Just like Bitcoin was created to decentralize the modern financial system, Ethereum aims to use the same technology to replace internet third parties.

The advantage of Ethereum as a network is that its users can create, publish, monetize and use programs and applications on the platform and can use the cryptocurrency Ether as a means of payment.

These applications are known as Dapps - decentralized applications. 

Dapps are open-source software based on an Ethereum blockchain. One of their main features is that they don't need a third party to function.

This is why Ethereum describes itself as "the world's programmable blockchain".

Ethereum as a cryptocurrency is second in market value after Bitcoin.

At the moment of writing this text, there are around 116 million Ethereum in circulation. There were about 111.34 million Ethereum in circulation last year. The increase of ETH coins in circulation compared to last year (2020) is 4.44%. 

Unlike Bitcoin, which can have a maximum amount of 21 million tokens in circulation, the total number of Ethereum is not limited. The explanation for this is that Ethereum is expanding as much as there is demand for it.

At the moment, the Ethereum blockchain operates on a Proof-of-Work consensus mechanism just like Bitcoin. However, Ethereum will make a transition to Proof-of-Stake.

Ethereum has revolutionized the concept of smart contracts on the blockchain platform. Smart contracts are computer programs that automatically execute actions that are necessary to fulfill the agreement between several parties on the internet.

Smart contracts reduce the need for intermediaries when concluding contracts, and at the same time they increase reliability.

This results in the following advantages of Ethereum as a network:

Before the major upgrade of the Ethereum network, the ETH coin was mined the same way as Bitcoin using the Proof-of-Work (POW) protocol.

After the upgrade, the Ethereum network switched to the Proof-of-Stake (POS) consensus mechanism.

Once the network switched to a new consensus mechanism, mining as a way of adding new blocks of transactions to the blockchain is no longer needed.

Ethereum 2.0 no longer requires the use of expensive mining devices. Now it is enough to deposit a certain amount of ETH coins in a "staking pool" in order to acquire the right to be a validator in the network.

To become a node and validate transactions in the network the user has to lock a minimum amount of 32 ETH coins in the staking pool.

Validators have a similar task as miners in the Proof-of-Work mechanism - they confirm transactions and create new blocks.

Ethereum's move to Proof-of-Stake consensus should allow the network to be more energy efficient and scalable.

Ethereum has a total of eight co-founders. Vitalik Buterin - a Russian-Canadian programmer is probably the best known among them. He issued the original Ethereum white paper in 2013.

Gavin Wood is also a key figure in founding Ethereum. He implemented Ethereum, and he introduced the “Solidity” program language.

The other co-founders of Ethereum are:

On the Bitcoin Store platform, you can easily buy Ethereum and more than 150 cryptocurrencies at the real-time exchange rate with the lowest fees.

First, you need to create and verify your account on the Bitcoin Store cryptocurrency trading platform to get full access.

After successful verification, you can deposit (EUR) to your Bitcoin Store Wallet.

Supported payment methods for deposit are:

Once we receive your payment, funds to purchase cryptocurrencies will be available on your Bitcoin Store Wallet, and you can start purchasing cryptocurrencies.

On the Bitcoin Store platform, you can easily sell more than 150 cryptocurrencies from our offer at the current exchange rate.

You can instantly sell cryptocurrencies that are stored on your Bitcoin Store Wallet.

Cryptocurrency stored on personal wallets such as Exodus, TrustWallet, Ledger, Treasury, etc., or various trading platforms and must be transferred to your Bitcoin Store Wallet before selling.

Once the transfer is successful, you can sell your cryptocurrency. You can withdraw the funds directly to your bank account or keep them on your Bitcoin Store Wallet and use them for future cryptocurrency purchases.

You can buy and sell cryptocurrencies for cash in Bitcoin Store exchange offices in Zagreb, Rijeka, and Split.

Verifying your identity via ID card is not required for all transactions up to 1000,00 EUR.

You can deposit cash directly to your Bitcoin Store account in the exchange office. The deposit amount will be visible immediately and ready for your next cryptocurrency purchase.

You can store Ethereum in your digital wallet. When it comes to cryptocurrencies, digital wallets can be divided into 2 groups - Hot Wallets and Cold Wallets.

Hot wallets include:

Cold Wallets include:

You can also store ETH on your own Bitcoin Store Wallet. The access and storage of cryptocurrency are free for all users who register on the Bitcoin Store Platform.

On Bitcoin Store Wallet you can: