Convert Ethereum (ETH) to Onyx (XCN)

Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts. Ethereum was first described in a 2013 whitepaper by Vitalik Buterin. Buterin, along with other co-founders, secured funding for the project in an online public crowd sale in the summer of 2014. The project team managed to raise $18.3 million in Bitcoin, and Ethereum's price in the Initial Coin Offering (ICO) was $0.311, with over 60 million Ether sold. Taking Ethereum's price now, this puts the return on investment (ROI) at an annualized rate of over 270%, essentially almost quadrupling your investment every year since the summer of 2014.
The Ethereum Foundation officially launched the blockchain on July 30, 2015, under the prototype codenamed "Frontier." Since then, there has been several network updates — "Constantinople" on Feb. 28, 2019, "Istanbul" on Dec. 8, 2019, "Muir Glacier" on Jan. 2, 2020, "Berlin" on April 14, 2021, and most recently on Aug. 5, 2021, the "London" hard fork.
Ethereum operates as a global, decentralized computer that executes programs called smart contracts. The network consists of thousands of independent nodes operated by individuals and organizations worldwide, all maintaining a shared record of transactions and data. When someone initiates a transaction or interacts with an application on Ethereum, validators process and confirm these actions, adding them to the blockchain permanently.
Unlike traditional centralized systems where a single entity controls operations, Ethereum distributes authority across its entire network. This design ensures that no single party can manipulate transactions or shut down applications. The network's native cryptocurrency, ether, serves multiple purposes: it pays for transaction fees, compensates validators for securing the network, and functions as collateral in various financial applications.
Ethereum's own purported goal is to become a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime and fraud. Ethereum is a cryptocurrency currently trading at $2,337.48 with a market capitalization of $286.22B as of October 27, 2026. You can manage Ethereum directly in Trust Wallet.