Ethereum is booming in the NFT frenzy – so is network congestion – fr

Ethereum is booming in the NFT frenzy – so is network congestion – fr

The NFT craze has put Ethereum – the blockchain-based computer network that backs it up – back on the map, but the platform is already paying for its success.
The price of ether, the network’s internal currency, crossed the $ 3,000 mark for the first time on Sunday and climbed to $ 3,340 on Monday afternoon, driven by the explosion of NFTs, or non-fungible tokens. , and another market called challenge, runs for decentralized finance. A year ago, it was trading at just $ 210.
Gains in ether, the second largest cryptocurrency by market value behind bitcoin, accelerated even as bitcoin’s momentum slowed. Ether gained over 40% in April, while bitcoin fell around 2.4%.
Ethereum, launched in 2015 on the concepts behind Bitcoin, is a platform for developers to build and operate apps, much like Android or iOS. Unlike these operating systems, which are owned and controlled by Alphabet Inc. and Apple Inc. respectively, Ethereum is an open-source software project, which means that no central party has control.
The rally in the ether is linked to the recent explosion of activity on the grid. About seven million new Ethereum addresses – or accounts capable of holding Ether balances – were created in the first four months of 2021, bringing the total to more than 55 million, according to analytics firm IntoTheBlock. And the dollar value of transactions on the platform totaled $ 1.5 trillion in the first quarter, according to research firm Messari, more than the previous seven quarters combined.


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