Ethereum

The Ethereum Network is not dead, despite reports to the contrary.

Ethereum 2.0

The Ethereum Network continues it’s steady progress towards Ethereum 2.0.
Ethereum 2.0 is the transition of Ethereum from Proof of Work concensus; the way the blockchain ledger is validated, to Proof of Stake concensus, a different way that blockchain ledger is validated. This transition will theoretically, and so far in actuality on testnet, improved transaction speed and lowered the costs of transactions.

Ethereum Transactions continue to rise.

According to Messari Enterprise, a Real Time monitoring and alert service for cryptocurrency assets Ethereums Quartly Transaction volume continues to rise

If you look at Ethereum transactional volume in millions of dollars USD by Quarters from 2019 to 2021, you find this:

2019

Q1: 19 31 MILLION IN TRANSACTIONAL VOLUME
Q2: 73 MILLION
Q3: 88 MILLION
Q4: 87 MILLION

2020
Q1: 116 MILLION
Q2: 159 MILLION
Q3: 438 MILLION
Q4: 577 MILLION

2021
Q1: 1,541 MILLION OR 1.541 BILLION DOLLARS IN TRANSACTIONAL VOLUME

Source Messari Enterprises

Transaction Volume Summary

Ethereum settled more transactions in the first quarter of 2021 then it did in all of 2020. This is not the statistic of a dying enterprise. On the contrary it represents a growing enterprise, with ever growing utility, and an increasing number of use cases.

DEFI, NFTs and ???

As we look at these transaction numbers, we must remind ourselves that we are early in this blockchain revolution.
While Smart Contracts and DeFi platforms like MakerDao and Uniswap were the big headline news in 2019, they are now overshadowed by Yield Farming platforms in 2020, and other types DeFi Financial platforms and NFT platforms booth in Art and Gaming have sprung to life in 2021, and they promise to fuel a continuing surge of economic activity on Ethereum, and beyond Ethereum.

Binance Smart Chain and the Zero Sum Game

I recently wrote about the Binance Smart Chain, and quite frankly I sang it’s praises in terms of its cheap transaction fees, fast transaction times, and the ever increasing number of economic opportunities available to the small investor there. I stand by those words today. Binance Smart Chain and the Binance ecosystem are a wonder of technology, marketing, and business savy. We can all learn from their example.

But I agree with the Founder of Binance , known as CZ, we should champion the success of others in this space, because their success is good for cryptocurrency, and what’s good for cryptocurrency is good for all of us in this space.

This is not a zero sum game

The current amount of money invested in cryptocurrency is very big and growing, but it is dwarfed by the total amount of investment capitol in the Legacy Financial system. This is not a zero sum game of Ethereum succeeds and Binance Smart Chain fails, nor Ethereum fails and Binance Smart Chain succeeds. That’s Binary thinking, and the world is not binary.

We can all win

There is room for many Ethereum Networks and many Binance Smart Chains, in this space we call investing.

The Blockchain is the Future

We are in the early stages of a blockchain revolution, the blockchain, like the Internet before, will swallow up the Legacy Economy and something new will emerge. We are early, and perhaps it’s still hard to see. But we must be open minded and forward thinking. The most powerful force in the universe is Entropy, which is a fancy term for Change.

Change

Change is like a wild horse in the dessert, and we are on foot. We must recognize, learn about, develop a relationship with it and learn to ride it, if we are to survive.

✍️ by @shortsegments

Shortsegments is a writer focused on cryptocurrency, the blockchain, non-fungible digital tokens or NFTs, and decentralized finance, where finance meets technology.

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The Ethereum Network is it dead?