Time to get excited about Ethereum (ETH)

December 1, 2018 Ethereum



[ad_1]

If your value sinks by 75% in a year, you will probably face a lot of criticism and harsh words from the market. This is exactly what happened to Ethereum, one of the main cryptic monikers. Spiralizing from $ 1400 to $ 100 is a difficult thing to elaborate and it's no wonder that Ethereum had to listen to its obituary almost every day. However, the price is only a vertical in which the projects are measured and even if it is the preferred by measurement hodlers, it is certainly not the most important.

The price is sinking, but Ethereum is emerging on the technological front, hundreds of world-class developers are leading the way for Ethereum to become the world's supercomputer and operating system.

Ethereum and all its Dapps are the showcase for what Blockchain is and what it can do and how it can change the world.

The Ethereum dApps start to move forward

Undoubtedly, there were many toxic ICOs who obstructed Ethereum, robbed their investors and gave ETH a bad reputation in 2017. However, these unfortunate and worthless projects are rooted in total incompetence and legal non-compliance and good ones. they are bursting. on and get traction between users.

Ethereum is starting to replace Banks allowing users to receive Blockchain loans. Take a look at this Ethereum user's experience:

"Recently I used it for the first time MakerDAO of CDP system that allows you to "give yourself" a certain amount of DAI (= 1 USD) based on the amount of ETH you are willing to use as collateral.

For the first time in modern finance we can lend money to our assets at an attractive rate (2.5%) without having to use a central entity like a bank. Basically you get your ETH back when you return the loaned DAI and if the value of ETH goes up you could never have to repay the loaned DAI. "

"Millions of people use the Brave browser and will be exposed at some point BAT (an Ethereum token). 3d artists are using Ethereum Blockchain through Golem to make 3d projects. dYdX allows you to make margin trading in a completely decentralized way by buying some long or short tokens, I just acquired some leveraged tokens in expo (based on dYdX) and I am amazed .. "

There are many other dApps that deserve to be mentioned, but this goes beyond the scope of this article, so we will briefly discuss only some of the most known and working dApps.

Augur it is functioning as a fully decentralized and open source forecasting market platform based on the Ethereum blockchain for all predictive markets. luna park is a decentralized gaming technology platform that uses Ethereum's blockchain, smart contracts and its own destiny channels (state) to provide casino solutions with "fun, fast and fair" games. FunFair has been launched for many months and they are working to obtain legal licenses in different jurisdictions.

Golem he called himself "the world supercomputer." Golem Brass beta was released on the mainnet in the second quarter, allowing users to sell their computing power and earn real GNT for the first time. OmiseGo it is the decentralized plasma exchange, which houses an open source digital wallet platform created by the parent company, Omise, which links traditional payments, cross-border remittances and much more. They have had their public release of White Label Wallet SDK which is one of the most useful tools in the developers' arsenal.

Competitors do not have official recognition

A note on Ethereum's competitors – ETH will do it remain relatively uncontrolled by the next technology like EOS, Tron, IOTA, NEO because of the huge advantage it has on new projects. This may change after 2019. But for this year Ethereum is too far ahead of its competition to even think of an "attack" on its dominance.

The ETH has a huge advantage: since 2014 there have been great resources invested in it. EOS could be a challenger, but it can not reach the same level of Eth within 6 months of the launch of the main network. Attracting developers, getting them interested in launching projects on the network, getting the involvement and the attention of companies is a virtuous cycle that is built over time. You can apply the same logic to any of the new blockchain 3.0 projects.

Ethereum is the dear media media

Media coverage of Ethereum it's also quite good. Some mainstream mainstream media players love bash bitcoins but rarely do the same with Ethereum. Whenever the media talk about Ethereum, it is always in a positive light.

Another positive for Ethereum, more and more traders are using it like vehicle other than BTC for transactions and exchanges. The pure volume of ETH trading pairs made by some exchanges can confirm this. There is a decisive change from BTC to ETH.

Ethereum 2.0 is a different beast

As Father Ethereum himself stated, Vitalik Buterin, the current status of Ethereum is far from the ambitious vision of the world's most powerful computer:

Ethereum 1.0 is a scrapposo attempt by a couple of people to build the world computer; Ethereum 2.0 will actually be the world computer.

It is a new solution proposed for the problem of the scalability of Ethereum. Ethereum's blockchain was a victim of its own success: tons of projects that launched their token on ETH blockchain proved to be too much for its current design and output. At the height of the activity, Ethereum was stuck to death with mundane games like the criptokitti.

Solutions to the scalability problem have increased almost every week. Two of the most important solutions came from the top of the Ethereum hierarchy – Vitalik Buterin himself. A proposal is the so-called Casper – evidence of the pole consensus mechanism and the other is the division – creating thousands of sidechains that could easily scale to millions of transactions per second, leaving even the contemporary Visa benchmark in the dust.

The most recent idea to solve the difficult scalability problem for Ethereum is Ethereum 2.0: a completely new blockchain that will have both Casper and Sharding implemented on it.

Let's take a brief look at what this latest product of the kitchen idea of ​​Ethereum is.

In the presentation of Ben Edgington, Ethereum 2.0 is mentioned as the definitive solution that must be designed taking into account three sets of mandatory and optional functions: what it should have, what it should have and what it could have.

The must have are on the scalability of the chain, a capacity a thousand times greater than the current one. The other indispensable feature that must be present is the evidence of the stake's consent. Both these conditions are means to achieve the goal: decentralization, availability, security, usability, continuity.

The elements should have less controversial properties such as: quantum resistance, account abstraction, delayed state execution and atomic cross cross transactions.

The potential could be the rental deposit capacity and the consent of Casper CBC.

The new architecture of Ethereum 2.0 is a much more complex structure than the "scrapposo attempt" called Ethereum. This is a multi-level system with a PoW anchor chain on which the coordination chains called Beacon chains run, which are the foundation for the Shards – sidechains that will run the Ethreum virtual machine – EVM.

There is a whole host of teams that are taking part in the construction of this new Ethereum 2.0 complex. Some of them are familiar names like Status, Prysm, Pegasys, Lodestar, Harmony, Parity etc.

An optimist is 2021, but if the chronology is an indicator, it would be better to add a year or two more.

Conclusion

The huge accident of 2018 could prove to be a blessing in disguise for Ethereum while cleaning up the atmosphere around the project. The frustrating and uneducated crew of price speculators blew up the ship, leaving more room for discussion among people who recognize quality when they see it.

Join our Telegram channel or

The writers and authors of CapitanAltcoin may or may not have a personal interest in any of the projects and activities mentioned. None of the contents on CaptainAltcoin is an investment advice, nor does it replace the advice of a certified financial planner.
The opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

[ad_2]
Source link

Tags

Designed by Tricksfast Solutions
© Copyright 2024, All Rights Reserved