If you’re new to the world of cryptocurrency, you might be looking at Ethereum and wondering just how far it stretches.
Ethereum is the world’s second most popular cryptocurrency, and because of its differences from the more standard BitCoin, you’re likely to have some questions.
A common question when trying to wrap your head around Ethereum is: just how many Ethereum coins are there in the world today? Is there still lots of Ethereum out there to mine?
Since Ethereum is newer than BitCoin, there are a lot fewer coins in circulation, and there are subtle differences between the two currencies that you’ll want to know about.
In this article, we’re going to explore everything you’ll need to know about the amount of Ethereum in circulation today, and how this works in a more practical sense.
We’ve also included a short FAQ to help answer any additional questions you might have.
Current Number Of Ethereum
Ethereum coins are constantly mined and increasing, but as of April 2022 there are over 120 million coins in circulation.
This differs massively from BitCoin, which has capped out at 21 million coins, with no more ever existing.
Because of the much larger number of Ethereum coins available, it is becoming an increasingly popular cryptocurrency.
An Overview Of Ethereum
Before we go a little deeper into the number of Ethereum out there in the world today, let’s take some time to further understand exactly what makes Ethereum different from its competitors.
Ethereum is a blockchain, that is to say, it’s a worldwide system that is formed by lots of computers interacting with one another.
Like other Cryptocurrencies, it has massive advantages as it is not centralized in any kind of banking system, and the encrypted nature of this ledger means that nobody can ever tamper with it.
Ethereum is the second-largest cryptocurrency in the world, and although it often changes in value, it is one of the most promising cryptocurrencies to invest in at the moment.
Created in 2015 by programmer Vitalik Buterin, it has taken the world by storm and is now a strong competitor to the older and more widely known BitCoin.
Ethereum Coins
An Ethereum ‘coin’ (often abbreviated to ETH or Ether), is what is used to describe a singular block of transactions that is added to the Ethereum blockchain or ledger.
If you own an Ethereum, you essentially own one place on this ledger. This translates to money through the value of each place.
The amount of money that 1 Ether costs will vary depending on the stock market, but it reached a high of over $4000 at its peak in 2021.
“Mining” a coin here refers to the process which allows places on this ledger to be created by computers solving algorithms.
It takes a lot of processing power (and therefore energy) to create a place on the blockchain, which means that it is increasingly difficult to mine new Ethereum. That said, new ones are being created every day.
Will There Be A Max Supply Of Ethereum?
The most important thing to keep in mind is that Cryptocurrencies are expected to reduce over time, and eventually cease to be created.
But that’s not something to worry about any time soon when it comes to Ethereum. Since 2015 Ethereum has increased from 72 million up to 120 million.
There won’t be an infinite amount of Ethereum, and caps are usually placed on the currency to stop what is known as ‘deflationary decline.’
This essentially means that to stop the coins from losing value, there is a cap on how many will be created.
But as it stands, there is currently an infinite amount of Ethereum left. Whether caps will be placed on the currency in the future is yet to be seen.
Frequently Asked Questions
How Long Does It Take To Mine One Ethereum?
To mine a singular Ethereum, a computer (or series of), must complete many complex math problems.
With a good GPU and processor, it can take upwards of 7 days to mine an Ethereum, though this timeframe may change in the future.
How High Can Ethereum Go In Value?
Trying to predict the future prices of ETH is something that people are now making careers out of.
Ethereum is generally considered to be one of the more promising blockchains to invest in, with some experts predicting a singular coin might reach upwards of $100,000 within the next few years.
What Is Better, Ethereum Or BitCoin?
One thing to know when comparing the two currencies is that Ethereum is more than just a cryptocurrency.
The Ethereum network has been created as a place for people to trade goods and services in a decentralized way.
Ethereum can also be used for various applications and smart contracts.
If you’re worried about the environmental impacts of cryptocurrencies, Ethereum is attempting to make itself more sustainable as a blockchain; which would be revolutionary in terms of crypto if they could make it happen.
On the other hand, Bitcoin is one of the most widely understood and accepted cryptocurrencies, and one that still has wide potential for growth and profit return.
There’s no ‘better’ between them, only one that is more suited for your own, individual goals and hopes.
Final Thoughts
So there you have it, there are currently 120 million Ethereum in the world today, with over 80% of these being mined, but there are currently infinite possibilities to mine new ETH.
That said, caps may be placed on the number of coins available in the future, and this will massively affect how much they are worth.
Trying to wrap your head around the finer details of cryptocurrencies can be difficult, so we hope that this article has given you some insight into the matter.
If you still have some questions, keep reading for our FAQ section that will define some of the more specialist terms used in this article.
- Is It Too Late To Invest In Bitcoin? - June 17, 2022
- How To Calculate Bitcoin Profits - June 17, 2022
- How To Buy Crypto On Venmo - June 17, 2022
