Ethereum gearing up to pick momemum
Ethereum is the first blockchain for building Dapps as it was know as a decentralized blockchain platform that enables smart contracts and decentralized applications (dApps) run on it including layer 2 protocols it was initially forked from ETC blochain which was the first protocol, due too scalability issues it was forked . It's the second-largest cryptocurrency by market capitalization, with a current market cap of around $315 billion. Some of its key Features are:
- *Smart Contracts*: Self-executing contracts with programmable logic for developers as it has alot of Decentralized Applications built on it running thousands of apps and services built on Ethereum chain, by Turing-Complete Language which Allows for complex logic computation.
- How it Works:
The Blockchain Network uses a decentralized network of nodes verifying transactions Ether (ETH) which is the native cryptocurrency used for transaction fees and network security which includes staking for validator make Etherum also a POS network just like hive but with a different mechanism as some of the Gas Fees are paid to validators for processing transactions and part of it also burnt too reduce the circulating volume.
Recent Upgrades:
- Shanghai Upgrade: Enabled validators to withdraw staked ETH
- Dencun Upgrade: Introduced Proto-Danksharding to reduce transaction costs and increase scalability
The Decentralized Governance of the Ethereum blockchain Enables decentralized decision-making and autonomous systems like voting on consensus and fork protocol which provides added Security in a a secure and transparent layer for transactions and applications. This Fosters innovation and development of new applications and services using the chain out creating a new blockchain there by suitable for creating new tokens.
With Ethereum's current price at $2,637.63 and a 0.6% increase, I opened a long position at 2616 with small lot size and my margin is at 100x it's essential to stay informed about market trends and technical analysis to make informed trading decisions as I have an open position and with the recent volatily hitting the market courtesy from president Trump I know it's paramount to always observe opens positions till it hits take profit. My TP is at 2700 I know it could go higher from there but I will like too be conversative.