ETH
Hi,
we finally arrived in Berlin. We were supposed to land here in July 2020, but due to some issues we landed only today.
I'm not talking about a trip where I fly to Berlin, where I still want to go till the end of the year, but about the ETH HF that happened today. We might call it an upgrade, as it shall help the network grow by improving the user experience, especially by lowering the gas fees and implementing some protection against attacks.
We had four EIPs adopted today. EIP stands for Ethereum Improvement Proposals, basically each proposal is getting the code EIP and a number behind.
The adopted proposals are in numerical order EIP-2565, EIP-2718, EIP-2929 and EIP-2930 and are part of the road trip to London and the EIP-1559, which is the proposal that will burn a lot of fees, taking them from the miners, which ironical, make the blockchain unusable due to the high prices.
London shall lower the fees and the miners will receive definitely a lower amount, but with this measure, ETH price might skyrocket as people will be able to use the network.
ETH2.0
After Berlin, London will be the next major stop on the road map towards ETH2.0, which will revolutionize the way the industry works, getting to a model that we know, proof-of-stake from proof-of-work. It is better, as people will stake it, there will be less energy consumption and the most important thing is that the blockchain will be appealing to use in terms of costs.
ETH2.0 can take over easily the top spot on the market cap as a $10k is not unrealistic and if this happens we might see a crypto revolution with a lot of shifts as utility will might be more important than value storage.
How do you see it?