What Is Ethereum 

Ethereum is a public distributed platform that is based on Blockchain and open-sourced across the world for the decentralized applications. The platform was launched with the help of a crowd sale by Vitalik Buterin in 2015 who is a programmer as well as a cryptocurrency researcher. The Blockchain network was split into two different Blockchains during 2016 when the original platform became Ethereum classic and the separated version continued as Ethereum. The current price of Ethereum is 136.02 US Dollars that fluctuates with the market.

What Is Ether? 

Ether is the native cryptocurrency token of the Ethereum network operated and traded on every cryptocurrency exchange across the globe. The coin powers the whole Ethereum platform and it can be sent instantly and cheaply over the internet and also people can use it in various Ethereum-based applications. Ether performs as a vehicle for roaming around on the Ethereum platform and developers mostly need it because they can use it to develop and run applications inside the platform. Ether is used across the world majorly keeping two things in mind: the coin can be traded similar to the other cryptocurrencies in digital currency exchange, and it can also be used inside the Ethereum platform to run decentralized applications as well as to monetize work.

What Are Smart Contracts? 

A crypto contract commonly regarded as a smart contract is a self-executing computer program that facilitates and verifies credible transactions without taking any help from the mediators. Such contracts are stored on the decentralized ledger technology called Blockchain where agreements between the traders were written in cryptographic lines of codes. The agreement then exists across the distributed Blockchain platform and is trackable by every participant. 

Ethereum VS Bitcoin 

There are similarities as well as differences between both Bitcoin and Ethereum. Although both are Blockchain-based cryptocurrencies, the former has a lower coin supply than the later and is more liquid within the market. Ethereum has more uses than Bitcoin and it uses better technology. But if you talk about the transaction speed, Ethereum takes less time to process a transaction as compared to Bitcoin. The time Bitcoin takes to create a block is 10 minutes while Ethereum takes 12 to 18 seconds to complete creating a block to the chain of transactions. 

Ethereum (ETH) crossed its 100 million limits in 2018 and thereby hitting a new milestone as the coin’s supply across the world reached more than 100 million. Whereas the king of all cryptocurrencies Bitcoin has a supply of only 21 million, Ethereum has decided not to set an upper limit on the total supply of the coin. 

Ethereum Price Prediction for 2023

Although the price of Ethereum fell massively from the cliff, yet it has managed to maintain its trend within a fixed price range. The price of ETH has recently spiked beyond a major resistance for the first time since August 2022. This, however, flashes some bullish signals for the coin in the market. Since a bullish trend has showed up already in its price graph of the Q1 close above $1800, Ethereum has a significant potential for its price to hover around $2100 by the end of 2023.

Some speculators are expecting ETH price rally to intensify and it might see new all-time-highs in the second half of 2023. To be specific, ETH price might reach close to $2500 by the end of Q3 2023. After studying the journey of ETH, the speculators further added that a notable price action may kick in its price during Q4, which can be bullish as well as bearish. Hence the estimated price range for ETH in 2023 would be $3800 to $4200 by the end of the year.

Should you invest in Ethereum in 2023? 

As we all know, ETH is the second largest crypto token after BTC as per the coin market capitalization. This coin is also considered the home of Decentralized Finance or simply known as DeFi. Likewise Bitcoin, Ethereum has also been displaying various significant price actions since the time of its creation. Hence, it can be considered a good investment option this year or in the future. However, you need to carry out deep research of the coin and its performance in the market before jumping into the deep. This might help you in the long run to manage risks accordingly.