What is Ethereum?
Ethereum is a decentralized platform that runs smart contracts, which are applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
Ethereum is a public, open-source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. It supports a modified version of Nakamoto consensus via transaction-based state transitions.
Ethereum provides a cryptocurrency token called “ether”, which can be transferred between accounts and used to compensate participant nodes for computations performed.
What is driving Ethereum price up?
Ethereum price is being driven up by a variety of factors, including increased demand from institutional investors, positive news about Ethereum 2.0, and the overall bullish sentiment in the cryptocurrency market.
Institutional investors have been increasingly interested in Ethereum, as it is seen as a safe-haven asset in the volatile cryptocurrency market. This increased demand has helped to push up Ethereum’s price.
The Ethereum 2.0 upgrade, which is expected to be released later this year, has also been a major factor in driving up Ethereum’s price. Ethereum 2.0 is expected to improve the scalability, security, and efficiency of the Ethereum network.
Finally, the overall bullish sentiment in the cryptocurrency market has been a major factor in driving up Ethereum’s price. As more investors enter the market, the demand for Ethereum increases, and its price rises.
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