, a year ago
On July 30th Ethereum had its 6th birthday. Only a few cryptocurrencies have managed to stand the test of time and only Ethereum has managed to stay on top of the game and rank second to Bitcoin. In today’s article, we are going to take a look at the things Ethereum has accomplished and what it is going to achieve in the near future.
Ethereum is home to a thriving tokenized economy. Everything started with the era of ICO that started as the wild west of decentralized fundraising and became more regulated and safer after the year 2017.
But the token economy is not the only thing Ethereum has created. Decentralized finance is one of the most promising technologies built on top of the Ethereum blockchain. While most investors use liquidity mining, lending, and token swaps on decentralized exchanges, more mature use cases are in the making. Insurance companies could be built entirely on a decentralized protocol that would not only save costs, but would also run in a transparent manner.
Last but not least non-fungible tokens are the most recent revolutionary technology. From collectibles to music albums and digital art. With NFTs all of these things become rare and unique items.
During August 2021 the so-called London upgrade will commence as a hard fork. London will introduce EIP-1559 which is maybe the most discussed and anticipated improvement proposal.
It is expected that EIP-1559 will make fees for Ethereum transactions less volatile and more stable. Resulting in lower overall fees for users, but also a burn mechanism that will reduce the fee for the miners and destroy a small portion of ETH per transaction. Some analysts are speculating that this might positively impact the price of Ethereum and makes it scarce even though Ethereum has no finite supply.
The year 2022 and therefore the 7th birthday of Ethereum will evolve all around the shift to ETH2. Ethereum 2.0 will introduce proof of stake and sharding, which will allow making use of sidechains that will run specific applications.
The ETH2 main chain is expected to run faster and scale better than its predecessor that is still dependent on mining. In the end, ETH1 and ETH2 will merge and the old chain will become a shard of the new one.
The last 6 years have been more than exciting for Ethereum and with all of these things in the making, the next 6 years will be a fun ride for sure.
Jan 25, 2023
Ethereum fans, at least those who believe in the concept of 'ultrasound money', are licking their lips. Recent data reveal that the net issuance of Ethereum has dropped to negative territory - again. What is the cause and why does it matter?
Jan 24, 2023
Contrary to uninformed popular belief, most crypto transactions are not secret and private, but instead transparent. To solve for this, all kinds of on-chain privacy tools are being developed. Ethereum co-founder Vitalik Buterin just proposed a new one: stealth addresses for Ethereum.
Jan 11, 2023
It has been revealed that the first testnet for the Shanghai upgrade will start in February. This has raised the expectations for the first major upgrade after the Merge. If everything works out fine, then we could witness another Ethereum hard fork as early as March. Of course, this date is not set in stone, but Shanghai might move the market in a new direction this year.
Jan 03, 2023
Ethereum underwent the Merge in September last year, and staking has replaced mining. Lido DAO is a liquid staking protocol that started on Ethereum and extended its service to other blockchains. With that being said, Lido is very successful in terms of adoption and attracted many users on Ethereum, Solana, Polkadot, Kusama, and Polygon.