Block chain security consulting firm warp future , said: It is 2020 June 30 news, the view that, since the encryption is still relatively small size of the economy, even if a major event occurs in this area, but also like a tempest in a teapot, a cause for odd.
We do not agree with this view, especially regarding Ethereum. Do you want to know why? If you observe carefully, the current solutions and services launched by Ethereum will make people feel more delighted than ever.
The leading smart contract platform is a new type of public infrastructure, and its ecological development is rapid. At least in my opinion, this infrastructure will definitely be more widely used in the next few years.
Because if Ethereum is useful now, it will only be even more in the future. Therefore, in order to better understand why Ethereum has become a game changer in the world today, let us take a look at the main highlights of this platform.
Anyone can manage money
If you have an Ethereum address, anyone in the world can save, invest, borrow, and trade with people who have an Ethereum address.
What are its benefits? All these activities are dominated by a decentralized blockchain, rather than driven by a centralized enterprise with restrictions and regulatory pressures. PayPal may freeze your account for some reason, but Ethereum will not.
Therefore, Ethereum provides a powerful alternative financial system for an increasingly globalized world, the core of which is autonomy.
Decentralized exchange
The centralized cryptocurrency exchange implements the KYC system and controls customer funds. These two problems do not exist in decentralized transactions, which are the main reasons why Ethereum's DEX transactions surge in 2020.
It can conduct unauthorized transactions around the clock, which is confirmed by the recent increase in DEX trading volume. Take Uniswap, the darling of the Ethereum community, as an example. Hayden Adams, the creator of Uniswap, said this month that as of June this year, Uniswap's transaction volume will exceed that of the entire year of 2019.
In addition, Ethereum's DEX is becoming more efficient and cheaper, so that they can now compete with centralized exchanges.
Digital Cooperation Organization
In the past year and a half, a large number of decentralized autonomous organizations have emerged on Ethereum, so digital cooperative organizations will gain more appeal.
There are DAOs, venture capital, e-sports, professional services, etc. that provide community coordination services.
These teams are early pioneers, and they demonstrate that Ethereum can achieve a new type of teamwork.
Cheap cross-border payments
There is no shortage of mainstream payment channels in the traditional financial sector. But these channels are centralized, regional, and prone to incur intermediate fees.
Therefore, traditional payment methods can be quite expensive. If you want to send thousands of dollars through PayPal, the payment giant will charge a large transfer fee.
In contrast, Ethereum can make payments of US$5 or US$5 billion for a few cents anywhere in the world. With the technological advancement of the Ethereum ecosystem, transactions via Ethereum will be cheaper in the future.
Open source project funding
Before Ethereum, funding for open source projects was a problem. But the platform has developed innovative projects such as Gitcoin Grants, which may change the world's perception of open source funds in the next few years.
For example, Gitcoin Grants relies on secondary donations, which is a donation mechanism that matches donation funds in a democratic manner. When the Ethereum project gets more financial support, decentralized services will be more popular, and more widely promoted.
Efficient financing channels
Ethereum makes it easy to issue tokens and promotes the creation of "social currency", that is, individuals and creators can issue private tokens, so that they can get unprecedented financial support, and it also provides fans with a way to participate in investment.
In this field, as the "new standard of social currency", Roll is an early innovator. They allow "social funds" to be accepted at an early stage, so as the crypto economy continues to develop, more people are expected to participate in it.
Digital collectibles
Due to the existence of Ethereum, collectibles are also programmable, which may promote the vigorous development of digital collectibles on the smart contract platform. Collectibles used to be non-circulation, but on Ethereum, they are circulated.
In 2017, these collectibles, that is, non-homogeneous tokens, appeared on Ethereum through CryptoPunks and CryptoKitties.
In a few years, many of the "Nifties" project collections will always exist on the Ethereum blockchain, and all of them will prove to be scarce and anti-theft. A new era of digital collection is coming.
virtual reality
There are also many famous virtual worlds on the Ethereum platform, such as Cryptovoxels, Decentraland, Sandbox, and so on. These community centers are also developing rapidly.
What's great is that these virtual worlds have been used to host virtual reality events, showcase artists' NETs, show games, etc. Recently, these potentials have made the virtual real estate market of Ethereum flourish. Builders and real estate speculators also have new ways to start businesses.
Artist royalty automation
The digital art market that has emerged on Ethereum is an early treasure of the platform. Surprisingly, Ethereum automatically pays royalties for the second sale of artists.
Why is it surprising? Because there is no similar situation in the traditional art field, artists usually do not receive royalties on secondary sales, and it may take several weeks for the gallery to receive the payment.
On Ethereum, every time an artist’s non-profit work is sold, the smart contract will automatically send part of the sales to the creator. For example, with 10% of royalties in place, the artist can get 0.1 ETH in return when selling 1 ETH for the second time. For creators, this is a huge benefit, and I hope this model will become popular in the future.
Play games to make money
Ethereum currently performs well because it proves that games can bring new revenue to users.
Specifically, in recent months, a project to make money with games has appeared on Ethereum, which rewards and motivates players. In Axie Infinity, you can obtain SmallLove Potion tokens that can be sold through battles, or profit by selling cards in the trading card game Gods Unchained.
Blockchain cutting-edge technology capital
In the next ten years, what is the other main reason why Ethereum will not decline? Ethereum is currently the new generation of solutions in the entire blockchain field.
For example, the oracle technology field in this field is currently the most active on Ethereum. There are more promising layer-two scaling solutions on Ethereum. Once Ethereum 2.0 adopts the sharding technology, the foundation layer of Ethereum will be upgraded accordingly.
to sum up
Ethereum is about to celebrate its 5th birthday, and for the platform, everything has just begun to become interesting. If this is what Ethereum can achieve in five years, what will it look like in 20 years?
From now to the future, many things may happen, and the development of Ethereum is not without challenges. But there is no doubt that we still believe in and are happy for Ethereum's present, and the future is even more promising!
The content of this article is compiled and compiled by WarpFuture.com Security Consulting Company. Please indicate if reprinting. Qusu Future provides related blockchain security consulting services including main chain security, exchange security, exchange wallet security, DAPP development security, and smart contract development security.