by Rushali 
Ethereum blockchain network’s native cryptocurrency Ether (ETH) price has hit an all-time high (ATH) on the early hours of Tuesday. Price was $1,439.33 around 12:00 UTC that is a little higher than the last ATH which was $1,432.88 registered on Jan 13 2018. The price of digital currency was up by 12% and then reached the peak.
From the starting of this month, ETH was showing an upward trend but couldn’t break the ATH due to the market correction led by Bitcoin’s downward trend. Bitcoin fell from $40,000 to $30,000 last week.
Ethereum has attained this range after around two months of bitcoin touching it’s ATH. Bitcoin touched its ATH of above $41,900 earlier this month, it’s last high was in Dec 2017.
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ETH has left bitcoins far behind in year-to-date basis, where bitcoin has risen only 27% so far this year, ETH has already risen 92%. But ether is following the bitcoin in its journey to new lifetime highs.
If we go by the Data by Messari ETH is risen by 1000% since its initial public sale in 2015.
Starting of Ether
The Ethereum blockchain was co-founded and originally described by Russian-Canadian developer Vitalik Buterin, who remains the project’s most well-known personality.
ETH is a decentralized blockchain, with features including small contract. It is a blockchain for decentralized applications (dapps) like prediction markets or trading venues. Dapps has some different features from regular applications like censorship resistance.
Ether’s best use in the case of data is Decentralized finance (DeFi). It is used for permissionless and automated lending, trading and borrowing to anyone with an internet connection. Defi applications have their own tokens based on ETH and that market had recently enjoyed a bull run after gaining popularity this summer.
Future of Eth
The concept of Web 3.0 is the future, it says, Eth proponents are positioning the blockchain project to be a censorship-resistant base layer operating in the background of tomorrow’s internet and it will seal today’s social networks with integral money systems.
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With the release of new blockchain called Beacon chain on Dec 1 has started the journey towards the future. This new blockchain will be brought in staking pledging funds to support the network, rather than mining. There is a series of transitions to upgrade the current Ethereum network towards a network that will handle an entire financial system and this upgrade was also part of that only.
