$ETH is more than just a digital currency, it supports decentralized applications that cover multiple areas such as:
Smart contracts: All activities on the blockchain can be done using smart contracts.
Decentralized finance: It is an essential part of the DeFi field, such as lending platforms and decentralized exchanges.
Non-fungible tokens (NFTs): It allows people to buy and sell unique digital assets such as digital art.
Ethereum faces some challenges such as:
Scaling: Transactions on the Ethereum network can be slow and expensive at times due to network congestion.
Competition: There are other blockchain networks such as Polkadot and Solana that compete with Ethereum in the field of decentralized applications.
Future expectations
Due to continuous innovations, such as scalability improvements (such as Ethereum 2.0), many analysts expect Ethereum to continue to evolve, which will increase its strength in the market in the long run.
Before you start investing, you must do your own research.
