Ethereum has pulled back again!
This year, Ethereum, even with the upgrade of the ETF and Vitalik Buterin calling for orders, seems to be unable to move the market with so many heavyweight positives.
Ethereum, once the king of public chains, is widely recognized as a target to buy blindly in the cryptocurrency world. But now that investors have spurned it, does it still have value?
We need to find the answer from what Ethereum is going to do and its development process
Some of you 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 be: a decentralized world supercomputer and a global computing platform
The concept of Ethereum was proposed in 2013 by Ethereum's core developer Vitalik Buterin, a technical genius.
In 2014, Vitalik Buterin released the Ethereum white paper, which included Ethereum's goals, ideas, and vision.
In July 2015, the Ethereum mainnet was officially launched, setting off an era of public chain wars in the cryptocurrency circle. Today’s major public chains can be traced back to Ethereum, and then countless imitations appeared.
At that time, there was an investment organization called "DAO" which had a large amount of Ethereum 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, the old public chain of Ethereum was ETC. Most of the developers led by Vitalik 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. In a short period of time, countless decentralized tokens were generated.
However, due to the popularity of a CryptoKitties game (the earliest prototype of NFT), the Ethereum network was congested and collapsed, so Vitalik proposed sharding technology to expand the capacity of Ethereum.
Ethereum has been undergoing technical updates from 2018 to 2019. In 2019, the concept of Defi was born and Ethereum was upgraded to version 2.0.
In 2020, the cryptocurrency world ushered in a vigorous bull market with the summer of Defi. In 2021, NFT exploded. This bull market proved the use value of Ethereum. It also moved from the previous ICO to generate a large number of fake air 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 cryptocurrency world, Ethereum is the second.
The wisdom of our Chinese ancestors has long revealed the truth to us: Tao begets one, one begets two, two begets three, and three begets all things.
Thanks to Ethereum’s technological breakthroughs and innovations, the cryptocurrency industry is now thriving. In the future, there will be many projects with application value.
By deeply cultivating the industry and focusing on research, we have the opportunity to become the investors behind future giant companies!
At the beginning of the article, I mentioned that Ethereum was once an investment currency that was bought blindly. Perhaps this is one of the reasons why this round of bull market has not risen yet.
So what surprises will this bull market bring us as Ethereum’s sharding technology is gradually implemented?
Those who know first will act first and seize the opportunity first. I am looking forward to it!
Friends who are currently confused and have no direction can follow me and look at my homepage. I will share layout strategies every day! Help you get rich
