Ethereum pulled back again yesterday!

This year, even the upgrade benefits of Ethereum and the ETF’s call for orders by Vitalik Buterin seem to be unable to boost the market. Ethereum, once the king of public chains, is recognized as a target to buy with a blind eye in the cryptocurrency circle, but now it is despised by investors.

Does Ethereum still have value?

We need to find the answer from what Ethereum is going to do and its development process. Some coin friends may not know much about the development of Ethereum, so I will simply talk about it from the beginning.

First of all, the overall vision of Ethereum is different from that of Bitcoin. Ethereum’s vision is to become: a decentralized world supercomputer icon and a global computing platform. The concept of Ethereum was proposed in 2013 by V God, the core developer of Ethereum, who is a technical genius.

In 2014, Vitalik Buterin released the Ethereum white paper, which included what Ethereum was going to do, its philosophy, and its vision.

In July 2015, the Ethereum mainnet was officially launched, ushering in an era of public chain wars in the cryptocurrency world. Today’s major public chains can be traced back to Ethereum, followed by countless copycats.

At that time, there was an investment organization called "DAO" which contained a large amount of Ethereum, which was stolen by hackers. Vitalik Buterin proposed a hard fork of Ethereum, so that the transaction records stolen by hackers could be rolled back, which meant that the transaction would not count.

After the hard fork of Ethereum, the old public chain is ETC. Most of the developers led by Vitalik Buterin switched to the new chain ETH, which is the ETH we see today.

In 2017, Ethereum developed smart contracts, one of the core functions of which is to issue coins with one key, which brought a new way of playing to the crypto market and generated countless decentralized tokens in a short period of time.

However, due to the popularity of a CryptoKitties game (the earliest prototype of NFT), the Ethereum network became congested and collapsed, so Vitalik Buterin proposed sharding technology to expand the capacity of Ethereum.

Ethereum has been undergoing technological updates from 2018 to 2019. In 2019, the concept of Defi emerged and Ethereum was upgraded to version 2.0.

In 2020, with the summer of Defi, the cryptocurrency world also ushered in a vigorous bull market, and NFT exploded in 2021.

This bull market has proved the practical value of Ethereum, and it has also moved from the previous ICO that produced a large number of copycat coins to a public chain with actual financial applications.

Through the above growth process of Ethereum, we can also see that the outbreak of Ethereum is closely related to the two waves of bull markets in the currency circle.

If Bitcoin is the first in the currency circle, Ethereum is the second in the currency circle. The wisdom of our Chinese ancestors has long revealed the truth to us: Tao gives birth to one, one gives birth to two, two gives birth to three, and three gives birth to all things.

Thanks to Ethereum’s technological breakthroughs and innovations, the cryptocurrency industry is thriving today. In the future, there will be many projects with application value. By deepening our involvement in the industry and focusing on research, we have the opportunity to become the investors behind future giant companies!

Ethereum was once an investment currency that people bought into blindly. Perhaps this is one of the reasons why this bull market has not risen yet. So, as Ethereum’s sharding technology is gradually implemented, what surprises will this bull market bring us?

The first to know comes first, and we will seize the opportunity first. I am looking forward to it!