Level Up Coding: You Must Look Closer at Ethereum Before It’s Too Late
Cryptocurrencies remain a beaten-down asset class. But they’ve rebounded strongly this year thanks to a number of positive developments. The biggest positive? A lack of any further implosions with leveraged lenders or crooked brokerage firms.
Following that, it’s clear that cryptocurrencies themselves haven’t been the problem. Many look to solve real-world problems. And as they grow as a network, they’re capable of big increases in value over time.
Ethereum (ETH), the second-largest cryptocurrency by market cap, is becoming a go-to for crypto projects. And thanks to last year’s shift from proof-of-work to proof-of-stake, it no longer has massive electricity needs. That makes it an environmentally friendly cryptocurrency.
But more importantly, Ethereum is becoming the go-to crypto network. And network effects are massive. The cryptocurrency has about 4,000 active developers on each blockchain, coming up with new apps and tools that can be built on the Ethereum network.
That’s in contrast to about 1,000 for Solana and 500 for Bitcoin. While Bitcoin will likely continue to dominate as a peer-to-peer exchange crypto, Ethereum has more opportunities to expand.
Adding in the recent upgrades, and it’s likely that the rising number of digital technologies in the world will run on this blockchain. Owning a piece of that blockchain could be highly rewarding.