The Bitcoin outgoing are all forms of cryptocurrency that you may be familiar with, but do you know some people have become billionaires by trading cryptocurrency? How is this possible? What is the best crypto of the highest value to build wealth? Welcome back to Crypto Millionaires, the channel where we teach you everything about investing in crypto.
Do you want to know what is Ethereum and what crypto millionaires have to say about it? Crypto millionaires says Ethereum will explode very soon. Stick on with us till the end of the video and we’ll show you how powerful Ethereum can be in the future days. Changing the face of cryptocurrency. Ethereum is an open source block chain based, decentralized software platform used for its own cryptocurrency. It is not just the platform, but also a programing language running on a block chain, helping developers to build and publish distributed applications. One of the big projects around Ethereum is Microsoft’s partnership. In the past, Ethereum has followed Bitcoin and at times have surpassed it at times. But recently the trend is just as before, where Ethereum is running slower than Bitcoin. To be honest, it would be great if every portfolio had a niche to run their Ethereum because it’s one of the lower risk. Higher bonus, please, you can make in the market. When you turn on the Bitcoin chart, you’ll see whether or not your coin is outperforming Bitcoin and neither of them has been outperforming Bitcoin lately. And let’s hope that this will be the trend as we move forward in twenty twenty one. What reasons do we have to believe that Ethereum will take over the domain of cryptocurrency in the future? Firstly, it’s the second biggest crypto after Bitcoin, and due to the great DfE hype, it has got a good run in twenty twenty defy most of it built on the ether. On block chain network is the next step in the revolution in disruptive financial technology that began 11 years ago with Bitcoin. One area in which these decentralized applications have taken off is cryptocurrency trading on decentralized exchanges such as swap. There is twenty one billion dollars secured within Ethereum. They cannot be sold or touched. The total amount of value transferred on the block chain on Ethereum is higher than even Bitcoin, which means most value moved around in the system is all moving through the ether on block chain. This is due to many other crypto is being built on top of the ether network. Now coming into a more upgraded version of Ethereum, we have Ethereum 2.0. It aims to increase the speed, efficiency and scalability of the Ethereum network, enabling it to address the bottlenecks and increase the number of transactions. One of the main reasons to upgrade to Ethereum 2.0 is scalability, with Ethereum. One, the network can only support around thirty transactions per second, which is cause for a delay, whereas Ethereum 2.0 promises up to one hundred thousand transactions per second. Another problem that people face is when getting all of these transactions through the system, it may result in the congestion of the network. At the same time, the transaction fees to soar because the miners would choose the maximum possibility fees in order to keep their businesses going. So if you have a cheap transaction to send, your transaction might not even get accepted into the network because the transaction fee is too low and it’s not worth the minus time to look at what you were trying to do. So it’s better to switch to proof of state instead of proof of network. Then the network will be able to accept thousands of more transactions per second, speeding up the network and bring in transaction fees down. The president of the Working Group on Financial Markets recently articulated a strong framework for ushering in an era of stable, coin based financial infrastructure. Following its name. Stable coins are crypto currencies that are aimed to be stable and eliminate asset fluctuations. The current market offers more than 70 stable assets, so building a stable coin becomes a common practice. Building a stable coin under ether on platform seems very reasonable due to a robust infrastructure and usage of Vassy Twenty Tokens standard, Ethereum has the biggest ecosystem, with high demand for custom currencies, which will ensure constant and sustainable liquidity flow for your stable coin. Additionally, Ethereum is home for almost AALDEF protocols, which significantly increases the need for stable coins those who are pegged to eath. We’ve shown great results last year and the demand is expecting to grow, according to Ethereum, 2.0 transitions. If we look at ether among Google, you can see that the Google searches for Ethereum hit all time high. So we get to the Google search trend charts. You’ll see that in twenty, seventeen and twenty eighteen, Ethereum topped out at seventy five. And right now it’s projected that Ethereum is at the highest point it’s ever been for Google searches. So there are more eyes on Itron than ever before. This is not the first time that people are educated on what Ethereum is. They’ve heard it before in twenty seventeen during the time when this term was introduced. By now, they have been accustomed to hearing that term frequently and might have got subconsciously impregnated in their minds. So they decide to purchase around and purchase crypto currencies that they may have thought about entering once the institutional investments and very rich people start investing not only in Bitcoin, but looking for the next Bitcoin. The first cryptocurrency that they are going to choose is Ethereum. Now, you may wonder why, as I said before, it has the most hype and it will be the next bitcoin.
Ethereum, no doubt, will transform into a transactional utility type cryptocurrency, but mainly a store of value, especially with the transactional fees at a tremendous rate. As long as we witnessed something that improves or fixes these high fees, Ethereum might transition into the next store of value after Bitcoin and truly become the silver to bitcoins gold. Right now, the overall cryptocurrency market cap is one trillion dollars that we achieved recently that the results are stupendous. Ethereum could absolutely do that on its own, just as Bitcoin is about to hit one trillion dollars on its own as well. Ethereum has jumped almost fourfold last year to just below six hundred dollars, although this is still short of its record. Fifteen hundred dollars in January. Twenty eighteen. As the pandemic continues to quarantine huge swaths of the global population, people are spending more time online and they are probably getting more interested in crypto currencies like Ethereum. Bernard Meyer, senior researcher at Cyber News.com, said the next five years will determine whether Ethereum would be able to pose a serious threat to the overwhelming Bitcoin domination that now stands at sixty six point four percent. That will no doubt depend on whether Ethereum 2.0 will live up to the expectations. Probably the most optimistic scenario was voiced by Brian Schuster, the founder of Art Capital, who stated that in twenty twenty five, Ethereum will be worth around one hundred thousand dollars. Moreover, he argues that Ethereum has the capacity to become a better store of value than gold, though it’s our conviction that Bitcoin would assume the role of digital gold and a store of value, whereas Itron would become the main driver behind the development of block chain as an industry in twenty twenty, the world started to understand the interesting value of Bitcoin as digital gold. In twenty twenty one, we will witness the same understanding of Ethereum as digital gold. And this year Ethereum will solidify its place as the future substance of the global digital economy. But underrating the world’s contracts, contracts are connective tissue of the world, sales contracts, college acceptances, employment offers, insurance policies, medical prescriptions, India’s ASDA agreements, etc.. Yes, the Earth runs on contracts if the room allows contracts to go truly digital. The digitization of the contract is the digitization of the global economy, which has been valued at an estimated two hundred and seventy trillion dollars.
Each room has the opportunity to upgrade entire economies, not just one asset class. In twenty twenty one, Ethereum will continue to cement its position as the leader layer one block chain. As with any technology stack, there are many layers that make up an application with Ethereum as the base layer, we will see an explosion of layer two solutions that will augment the thrombin net with unique features scalability, privacy, interoperability and more. Ethereum is an open source, public block chain based computing platform. What this means is Ethereum is often used as a platform to develop groundbreaking applications and a digital currency. Allowing those applications to operate is called ether. Ethereum is written in Turing complete code languages for a computer to be Turing complete. It must be capable of running any algorithm because of Turing. Complete language. Any script can run on either m e thrums block chain recordists, things far more rapidly than bitcoins processing transactions in twelve seconds as opposed to bitcoins twenty minutes. This makes it the Rum’s block chain, the best network to support any business or program. Its ability to solve problems with accuracy and. Precision has no rival either speed and ability to act as a platform for DAPs has attracted the attention of dozens of companies, all of which are trying to be the first to use and potentially profit from either own block chain. So as you can see, there are innumerable reasons why Ethem can be deemed as the future of crypto currencies, which will soon overpower Bitcoin. Hundreds of major companies have items back. There’s no denying that Ethereum is a powerful technology with the potential to further not only businesses but also our global currency system.