Ethereum Gold price is $0.00845238
The current price of Ethereum Gold (ETG) is $ 0.00845238. In the recent 24 hours, it has increased by +0.00%.
Ethereum Gold (ETG) is a relatively new addition to the world of cryptocurrencies. It operates as part of the Ethereum smart contracts governed ecosystem, a system built on top of the Ethereum platform. The primary objective of ETG is to utilize blockchain technologies by representing the value of gold. By this means, Ethereum Gold is creating a bridge between the traditional financial systems and the blockchain-based digital economy.
Ethereum Gold is the product of a team of developers, blockchain enthusiasts, and financial experts who identified the need to tokenize the physical asset of gold. Information about any specific individuals behind the project isn't available directly on their website.
ETG operates using the concept of smart contracts on the Ethereum blockchain. A smart contract is a protocol that can digitally facilitate, verify, and enforce the performance or negotiation of a contract without the need for a middleman. This offers users a significant advantage in terms of cost, speed, security, and transparency. ETG tokenizes gold by writing the value of physical gold into these smart contracts. Thus, each ETG token represents some amount of physical gold.
The uniqueness of Ethereum Gold stems from the way it combines the intrinsic value of gold with the advantages of digital assets. It provides the gold-backed stability that many critics say cryptocurrencies lack, while also offering the accessibility, security, and efficiency of blockchain technology. This makes ETG a potentially viable choice for investors who are looking to diversify their portfolios with a tangible asset such as gold, but also value the convenience and opportunities provided by cryptocurrencies.
As of date, the circulating supply of Ethereum Gold (ETG) is 18.0M and its total supply is 24.0M.
Ethereum Gold is secured by the Ethereum blockchain network, which is known for its robust security mechanisms. The Ethereum blockchain utilizes the proof-of-work (PoW) system, where miners compete to solve complex mathematical problems, thus securing the network. As ETG is an Ethereum-based asset, it inherits the security features put in place by the Ethereum network.
Ethereum Gold (ETG) can be purchased on multiple cryptocurrency exchanges, but be sure to research and have your safety measures in place prior to investing. However, you can buy or trade ETG on the exchange platforms as mentioned in the EtherDelta, HitBTC, STEX, CoinExchange.
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