Ethereum started as a blank canvas!
Ethereum is an open, permissionless blockchain that developers can use to create any type of application they want.
At present, the early brushstrokes covering the canvas have begun to form a coherent picture.
You don't have to look closely to see the development direction of Ethereum. Protocols and applications built on Ethereum began to find products suitable for the market, and quickly established a community of thousands of paying users.
The blank area on the canvas is no longer a source of uncertainty or doubt. Instead, they look more like opportunities: what can we build there? More details: 4D long text, the underestimated Ethereum
01External
environment
1. The pandemic of the new crown virus has forced major central banks around the world to print money at high speed.
The chart below shows that the Fed's balance sheet has grown from 4.3 trillion to 7.2 trillion in just 2.5 months, an increase of nearly 3 trillion US dollars. It is necessary to know that the quantitative easing in response to the 2008 financial crisis only printed 700 billion US dollars.
2. Wealth distribution accelerates polarization .
The money release quickly pushed up asset prices and greatly increased the assets of the top 1% of high-net-worth individuals. In contrast, the bottom 50% not only did not hold assets, but also reduced their income due to unemployment. This polarization between the rich and the poor has aggravated social dissatisfaction and made it easier for people to accept encrypted assets. After all, when the old order deteriorates, encrypted assets provide a new type of protection. More details: Bihugulu: A recent 29-month history of Bitcoin and Ethereum
02
Ethernet Square killers of decline
How many people or articles are talking about EOS, Neo, a project once dubbed the "Ethereum Killer"?
How many are talking about "Ethereum Killer 2.0" like Zilliqa's main sharding?
No more, basically all gone.
As for the new public chain, it can be said that apart from the already launched Cosmos and the upcoming Polkadot , no one cares, or believe that there will be an underlying public chain that threatens ETH2.0 in the future.
After ETH was in the Esio era, it suddenly ushered in that...the feeling of being loved by thousands of people. More details: ETH2.0 is progressing smoothly : Ethereum goes further and further, but the "Ethereum killers" are silent
03
Ethereum is making every effort to "break the circle"
In November 2019, Grayscale Bitcoin Trust (GBTC) applied for registration with the SEC for the first time, and it was formally approved in January 20, becoming the first digital asset tool that meets the standards of the US Securities and Exchange Commission.
On October 12, the registration application submitted by the cryptocurrency asset management company Grayscale Investment in the U.S. Securities and Exchange Commission (SEC) was formally approved. Its Ethereum Trust (ETHE) was the successor to Bitcoin Trust (GBTC). , The second digital currency investment tool to obtain the status of a declared company in the SEC.
As currently one of the few encrypted digital asset compliance trust funds, the most direct impact of Grayscale Ethereum Trust (ETHE)'s status as a declared company in the SEC is that it will be open to more investors-many mainstream institutions or investors Previously did not prefer or were not allowed to invest in trust products that were not filed by the SEC.
This may also be the reason why Grayscale applied to the SEC- Grayscale Ethereum Trust has become the world's largest Ethereum investment tool . As of the latest public data on October 21, Grayscale's cryptocurrency management scale (AUM) has reached 26.9 billion US dollars, of which Bitcoin Trust (GBTC) and Ethereum Trust (ETHE) are respectively 22.3 billion US dollars and 4 billion US dollars. . More details: In 2021, it is likely to be the "Highlight Year" of Ethereum
04
Ethernet Financial Square "building" is gradually forming
The ecology of Ethereum is already too perfect , especially after 20 years of DeFi booming, the concept of traditional financial circles has been more and more copied on ETH, and “decentralized versions” based on ETH have appeared. On many other public chains, you can’t even find something that can barely be called an "asset", let alone what DeFi infrastructure is.
The strengthening of this positive spiral effect makes Ethereum enter a stage where the strong will become strong , and the gap between it and other public chains is getting bigger and bigger. With the exception of Polkadot created by Gavin, one of the creators of Ethereum, and Near, who himself admitted to be threatened, other public chains may not even threaten the ability of Ethereum to exist.
The popularity of DeFi has the advantage that it has allowed Ethereum to establish its future direction, or even the breakthrough and development direction of the entire blockchain industry in recent years, that is, to be the underlying platform of decentralized finance and realize that Internet finance wants to achieve but has not The "inclusive finance" that can be achieved also allows many blockchain users to truly feel the users and charm of blockchain. More details: DeFi can't stop! The financial "building" of Ethereum is gradually taking shape .
05
10 data record high
Behind the rise in the price of the secondary market, many indicators of Ethereum have actually reached historical highs . As a side proof of the development of the Ethereum network, it may help us to further understand the actual status of Ethereum up to the present, and what follows Possible distance.
The 10 indicators of Ethereum are at record highs :
1. The utilization rate of the network is full, and the "global settlement layer" goes further.
2. The hash rate is at a new high, and the Ethereum miners are still "full of pours."
3. Derivatives begin to prosper, and the total amount of open options
reaches a new high 4. The number of users has steadily increased
5. TVL (total lock-up volume) has reached a historical high
6. DEX trading volume ushered in explosive growth
7. Ethereum accelerates the siphon of Bitcoin
8. Gray-scale ETH trust holdings have reached a new high
9. Ethereum + Stable currency, one of the largest
10, ETH in the deposit contract is all the way up.
More details: 10 indicators of Ethereum hit a record high, the next stop "the sea of stars"?
06
Ethernet Square story - global settlement layer
Source: cointelegraph
The story of Ethereum's first global computer was shattered due to poor performance.
After 17 years of "inexplicable" becoming a one-click token creation tool , Ether also "inexplicably" became the settlement currency in the circle at that time, not the settlement layer, but the settlement currency.
For a long time after the collapse of the Aixiou bubble, Ethereum seems to have lost its direction. This is also the most arrogant stage of all "Ethereum killers".
Finally, the rise of the DeFi concept allowed Ethereum to see a new story: the global settlement layer!
Supporters say that DeFi saved Ethereum.
The doubters say that DeFi is just the concept of Ethereum's self-help after the DApp concept has cooled on Ethereum.
But in any case, Ethereum has found a new story, and this story is currently developing in a good direction, whether it is concept or data, and it has once again made ETH the "king of the public chain". Throne.
To pay attention to "City of Dreams" instead of "earnings" of the currency circle, the story is really too important, this story so many people can participate, and in which many people really surplus profit . More details: DeFi's partial bull market-heralding that the dominant position of the Ethereum public chain is once again firmly welded?
Ethereum broke the previous high, what do you think of the next market? Welcome to write down your opinion in the message area.
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"Disclaimer: This article is the author's independent point of view, and does not represent the vernacular blockchain position. This content is only for the popular science learning and exchanges of encryption enthusiasts, and does not constitute investment opinions or suggestions. Please treat it rationally, establish a correct concept, and increase risk awareness. The copyright of the article and the final interpretation right belong to the vernacular blockchain. 』
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