Buy Ethereum (ETH)

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1 ETH / USD 1,711 .64
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What is Ethereum?

Ethereum is a global software platform powered by a decentralised, open-source blockchain. It is designed to be scalable, secure, and sustainable. Commonly known as a “world computer”, Ethereum is essentially “programmable money”.

Ether (ETH) is the native currency of the Ethereum blockchain and is used as a utility token to pay gas fees when processing transactions on the network. As a digital asset, ETH is also a store of value and is used as a form of payment. Ethereum (ETH) is the second-largest cryptocurrency by market capitalisation and is the most widely used blockchain in the world.

Ethereum is a game-changer. The most revolutionary feature of Ethereum is its native support for smart contracts. Ethereum’s founders’ intent was simple: to develop a platform where anyone can create and host their own decentralised applications (dApps). Developers can build dApps on Ethereum and write and execute smart contracts to run them. These digital contracts can be used to exchange value and represent the transfer of ownership of assets over the blockchain, like cryptocurrencies and Non-Fungible Tokens (NFTs). Smart contracts are a powerful tool that gives Ethereum a real-world use case. To invest in Ethereum you can buy ETH from Independent Reserve.

The Ethereum vision is to create a digital future for the world. Its cause is noble. Its mission: “grow Ethereum until it's powerful enough to help all of humanity.”

How can I buy Ethereum on Independent Reserve?

You can buy Ethereum on Independent Reserve in just five minutes. Create your account and deposit money to start buying ETH with as little as $10.

You can buy Ethereum with Australian dollars (AUD), New Zealand dollars (NZD), Singapore Dollars (SGD), or United States dollars (USD) on Independent Reserve.

In Australia, you can instantly deposit money into your account and buy ETH using the following methods: PayID and NPP/Osko. If you’re from Singapore you can make an instant SGD deposit using FAST. For other currencies, such as USD and NZD, you can use SWIFT.

Buy Ethereum on the go

Buy and sell Ethereum and other popular cryptocurrencies anywhere, anytime with the Independent Reserve app.

Yes. After you buy Ethereum on Independent Reserve you can securely leave it on the exchange. Or, if you prefer to store ETH yourself you can easily transfer it to your preferred wallet. At Independent Reserve we take security seriously. We have world-class protection measures in place to ensure our customer’s cryptocurrency is secured. These include two-factor authentication (2FA), ISO 27001 certification, top-tier underground vaults and cold storage. Learn more about our security measures.

The Ethereum blockchain has three levels of operation: The hardware layer, the software layer, and the application layer. The hardware layer of Ethereum runs autonomously over a global distributed network of computers, called “nodes”. Nodes perform the computational work required to process and verify transactions and ensure the blockchain’s ledger is updated. They are responsible for keeping a synchronised record of information stored on Ethereum’s shared database.

The software layer is controlled by smart contracts and supports Ethereum’s programming language, Solidity. Solidity is “Turing complete”, meaning it can run any computation that can be theoretically done by a computer. The combined hardware and software layers of Ethereum creates a decentralised supercomputer known as the Ethereum Virtual Machine (EVM). Developers can use the EVM to write and deploy smart contracts, and launch their own decentralised applications (dApps) on top of Ethereum, without having to create their own blockchain.

DApps are hosted on Ethereum’s application layer. They exist and run over a decentralised peer-to-peer (P2P) blockchain network and do not require a third-party entity to operate. Ethereum provides a decentralised system that enables a more trusted and shared infrastructure, protected from fraud and outside the control of a centralised authority. It is highly resistant to any form of censorship or downtime (i.e. it cannot be altered or shut down).

To learn more, read our blog post on how Ethereum works.

Ethereum was conceived in 2013 by programmer Vitalik Buterin. Innovating on the foundation laid by Bitcoin, Ethereum aspired to become the “Ultimate Smart Contract and decentralised Application Platform”. The Ethereum whitepaper was published in 2014 and development of the protocol began with an Initial Coin Offering (ICO) that received US$18 million in crowdfunding. The Ethereum network went live on the 30th of July 2015. Additional founders of Ethereum included Gavin Wood (Polkadot), Charles Hoskinson (Cardano), Anthony Di Iorio, Joseph Lubin and others.

Smart contracts are digital contracts that automate the execution of an agreement without any intermediary involvement. They are simply small programs stored on a blockchain that contain self-executing code and run exactly as programmed. They perform a set of actions based on the terms written in the contract and run when predetermined conditions are met.

Smart contracts are a revolutionary tool that allow us to operate in a “smarter” way without needing to rely on a third party to process and validate the information. Data recorded and stored on the blockchain’s public ledger cannot be altered and all transactions are openly accessible by anyone. This transparency of information enables a more fair and honest system, free from corruption. For example, smart contracts could be used to manage voting in an election, potentially removing the possibility of fraud and ensuring results are accurate.

DApps are blockchain-based applications that run on a decentralised, peer-to-peer (P2P) network of computers, called “nodes”. DApps function without human intervention, unlike traditional applications that rely on a centralised system. Ethereum provides a secure blockchain for storing data with built-in smart contract capabilities that allow dApps to operate autonomously. For this reason, Ethereum is the go-to platform for many developers and enterprises embracing blockchain technology.

Ethereum is home to the largest market of decentralised applications that exist today. Thousands of dApps have launched on the Ethereum ecosystem; innovating industries across sectors such as decentralised finance (DeFi), currency exchanges, gaming, identity, health, real estate, and more. Popular examples of Ethereum-based dApps include OpenSea (NFT marketplace), and Uniswap (decentralised exchange (DEX)).

Ether is the native cryptocurrency of the Ethereum network. “Ether” and “Ethereum” are often used interchangeably to refer to the cryptocurrency, which carries the ticker symbol ETH. Technically: Ether (ETH) is a digital asset, whereas Ethereum is a blockchain network.

ETH is the lifeblood of Ethereum. It is “digital oil” that fuels the entire network. ETH is used as a transactional token to facilitate operations within the Ethereum ecosystem. When a user sends a payment or interacts with an application on Ethereum they must pay a small network fee in ETH, called “gas”.

Gas is the essential fuel that powers the Ethereum network. When a user sends a payment or executes a smart contract on Ethereum they are required to pay “gas”. Gas is used to compensate miners (“validators”) for the energy it takes to process and validate transactions. Gas fees exist to help keep Ethereum running and incentivise miners to do the work needed to maintain the security of the network.

Gas is the unit used to calculate the computational effort required to execute specific operations on the Ethereum network. The more work a transaction takes to perform, the more gas it will need. Gas fees are denoted in Gwei, which is a smaller denomination of Ether (ETH); like cents to the dollar. The amount of gas paid is set by the user. "Gas limit" refers to the maximum amount a user is willing to spend on a transaction. Miners prioritise transaction requests depending on the set gas price, ie the higher the gas fee, the faster a transaction will be processed.

ERC-20 tokens are the most commonly used tokens on the Ethereum network. ERC stands for "Ethereum request for comment". ERC-20 is the technical standard used to deploy smart contracts on the Ethereum blockchain and provides a set of rules that all Ethereum-based tokens must follow. It was created to allow for the interoperability of products on the Ethereum network and was implemented in 2015. Using ERC-20 tokens, developers can build blockchain products on Ethereum without needing to create their own cryptocurrency.

ERC-20 tokens can be used as utility and governance tokens for decentralised applications (dApps). For example, the decentralised exchange (DEX) Uniswap uses the UNI token, and ERC-20 token.

"Serenity”, previously referred to as Ethereum 2.0, is a protocol upgrade to the Ethereum blockchain. This major upgrade will improve Ethereum’s scalability, security and sustainability. New features will enhance the network’s functionality and alleviate bottlenecks currently causing congestion issues. “Sharding” will be introduced to build scalability, reduce latency, and handle more transaction volume. The “Beacon Chain” introduces staking and will reward validators with ETH for creating new blocks and maintaining network security. The transaction validation process performed by nodes is called ‘forging’. When “The Merge” combines the Beacon Chain with Ethereum’s current Mainet, the network will transition from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism. PoS blockchains are more energy efficient as they require less power to operate.

Read more about Ethereum 2.0.

Learn more about Ethereum on our blog. Other resources include the official Ethereum website and the Ethereum whitepaper. Click here to buy Ethereum on Independent Reserve.

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