The Ethereum network has been growing during year 2020 despite the potential decentralized finance mania. The demand for the block space has not declined.
Widespread talk now is about the Ethereum Flash Crash. Reportedly, the price of Ethereum corrected at 13% and the derivatives data continue to support the $500 Ether price.
For those who do not know, “Annualized Basis means, with respect to a specific component of the Fixed Charges for any measurement period, the product of (i) the actual amount made or paid in respect of such component during such period divided by the number of calendar days in such period times (ii) 365.”
The price correction is something that will happen every year. However, whether the correction is healthy or unhealthy is dependent on the numbers. When there is a high leverage beyond 15% it is a sign of over confidence. It is important to study broader data and many times it is important to not decide based on short-term data.
One of the community member expressed that we need to realize that Ethereum is building a new financial system, art world, unstoppable internet, gaming ecosystem, and a universal settlement and call it a big deal.
Sydney Ifergan, the crypto expert tweeted: “Ethereum critics claim that ETH is probably centralized around proof-of-Vitalik. I don’t think so though!”
Vitalik.eth recently expressed that more people should support ethereum for payments. The nice thing about supporting ethereum is that you’re not just accepting ETH, you also get support for MKR, UNI, WBTC, and every stablecoin for free. And there’s already like three working layer-2 scaling solutions on mainnet.
The overall opinion is that the fees is expensive. Several enthusiastic crypto merchants feel that there are several other viable options.
In response Vitalik stated, there are many versions of USD, BTC and ETH on ethereum. Whichever you consider money you can use! He asked have you looked into @zksync, @loopringorg, or @omgnetworkhq?
Vitalik is very confident about several amazing things happening in the Ethereum Land. However, there is a whole lot of worry from the community.
One of the community member narrates stating, there is two issues that need serious attention Vitalik, one is wallet security for those who might take someone’s else private key, like fingerprint smart contracts or other form of secondary security after private key is stolen, and 2nd is gas fee needs to be reduce.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
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