What is ethereumfair (ETF)? It is one of the versions of the Ethereum blockchain that still operates on the old consensus mechanism method of working.Let’s see what else we can find out and take a look at some of the ethereumfair price predictions that were being made as of 20 September 2022, too.
Ethereumfair explained
One of the most eagerly anticipated events in the world of crypto to take place in 2022 was The Merge.This process, which saw the Ethereum (ETH) blockchain transfer from using a proof-of-work (PoW) system to add blocks to the blockchain to a proof-of-stake (PoS) one took many years to complete.
It did, however, mean that Ethereum no longer requires miners to solve increasingly complex mathematical equations in order to add blocks and earn rewards.Instead, people are able to make the blockchain bigger based on how much ETH they hold.This means that Ethereum is now more environmentally friendly than it once was and, at least in theory, it is also quicker, cheaper and easier to use.
Despite those advantages, it is worth remembering the original ether miners had the potential to earn quite a bit of money through mining ETH.Now, with The Merge completed as of 15 September 2022, they were unable to make the money that had proven to be at least part of their income.
However, there was a solution to the issue at hand.In the past, Ethereum itself had gone through hard forks, events whereby the code to the blockchain is altered, making previously invalid transactions valid and vice versa, in effect creating a new version of the blockchain.
In 2016, a decentralised autonomous organisation (DAO) was set up for Ethereum, allowing people to promote and raise money for their start-up apps.People had to buy DAO tokens with ether to enter, votes would be had on whether or not to fund something and apps that had 20% or more support got a share of the investment.
The Split Function allowed people to withdraw their support in return for getting their ether back after a 28-day waiting period.Unfortunately, there was a flaw in the Split Functions code.This meant the network kept refunding the same tokens without anything popping up on the public register.
Although not all was lost, the fact that the network was based around Ethereum meant it took a big reputational hit.A vote of ETH holders took place, with the decision made to set up the first Ethereum hard fork, meaning all ether coins issued after a certain date would, in effect, be invalid.People received refunds, but not everyone was happy.Some investors thought it unnecessary to go to what they saw as extreme lengths and have an ETH hard fork.
These people kept the original blockchain that had been split off by the Ethereum hard fork and rebranded it as Ethereum Classic, powered by the ETC crypto.
In effect, a similar thing has happened in the run up to The Merge.Miners decided that they wanted to keep Ethereum and decided to create new blockchains based on the original PoW version of the Ethereum blockchain.One of them was ethereumpow (ETHW), which launched its own mainnet within 24 hours of The Merge.However, ETHW is not the only crypto based on the old Ethereum.
EthereumFair is a split from Ethereum that was founded in early 2020.
The founders, an anonymous group of Chinese miners, have only recently started making statements in English.Perhaps more worryingly, there is no whitepaper, a document that establishes what it is that the EthereumFair blockchain sets out to do.
That said, we do know that the crypto has its own native coin, ETF, which came onto the open market in Septmeber 2022, shortly after The Merge.While we do not know for certain what it is that the EthereumFair blockchain does, it seems reasonable to assume that it intends to do everything that Ethereum does – working with smart contracts to allow people to create their own decentralised applications (DApps) that are based on the blockchain – although, again, there is no precise way of telling.
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ETF price history
Let us now take a look at the ETF price history, such as it is.
Keep in mind that, while past performance should never be taken as an indicator of future results, knowing what the coin has done in the short time it has been readily available can help give us some very important context when it comes to either making an ethereumfair price prediction of our own or interpreting one that is already out there.
When ETF first came onto the open market on 15 September – shortly after The Merge – it opened at $18.36.The next day, it rose to an all-time high of $20.73 before the price collapsed the following day to an all-time low of $1.84.
Following that, there was a reemergence to $11.46, before it dropped back down to trade at around $4.45 on 20 September 2022 at the time of writing.In addition, since there were no statistics for either circulation or supply available, ETF did not have a market cap at that time.
Ethereumfair price prediction round-up
Now, let’s take a look at the ethereumfair price prediction that was being made as of 20 September 2022.It is important to note that price forecasts, especially for something as potentially volatile as a cryptocurrency, and even more so for a freshly-launched crypto, very often end up being wrong.
Also, it is worth pointing out that long-term crypto price predictions are often made using an algorithm, which means that they can change at any time.
In relation to how new the crypto is, there is only one ETH price
DigitalCoinPrice offered an ethereumfair price prediction for 2022 that suggested that the coin could have reached $6.09 this year, moving to $10.31 next year and $14.35 the year after that.Looking further forward, the site made an ethereumfair price prediction for 2025 and predicted it could have achieved $18.47, before it dropped to $16.08 in 2026.After this, the site said ETF could have recovered to $22.53 in 2027 and $31.38 in 2028, before it could have closed the decade at around $45.27.The site then outlined an ethereumfair price prediction for 2030 that said it could have gone on to $63.37 that year and could have reached $86.34 in 2031.
Although that was the only live ETF price prediction at the time of writing on 20 September 2022, it is worth noting that CryptoPredictions.com said that it would make an ethereumfair crypto price prediction as soon as there was more data to go on.The site said: “Ethereumfair is a very new cryptocurrency that has been listed on CoinGecko from the 15 September.
Because we base our predictions on historical data, we don’t have sufficient information for this coin to provide you with accurate predictions.However, after the time period of 15 days, the predictions will update.So, please come back on 30 September to see our ethereumfair predictions.”
When considering an ethereumfair coin price prediction, it’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates.As such, analysts and algorithm-based forecasters can and do get their predictions wrong.
If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research.Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision.
Keep in mind that past performance is no guarantee of future returns.And never trade with money that you cannot afford to lose..
