Ethereum is a platform for a well-known cryptocurrency, but out of the blockchain world – the technology behind cryptocurrencies – Bitcoin remains by far the most famous one. However, the growth of Ether (ETH) transactions of this period led Ethereum to become the most used blockchain platform in recent days, surpassing Bitcoin. This doesn’t mean that the value of Ether surpassed its own record and indeed it’s still far from its highest values. For Ethereum it’s an important period also because at the beginning of August a public test phase of version 2.0 will begin.
Based on various free / open source licenses, the Ethereum platform (logo image ©Ethereum Foundation) was launched in 2015 and in 2016 there was a split into two separate platforms which led to the original version being named Ethereum Classic (ETC). Over time, the Ethereum platform has become a very important cryptocurrency in the blockchain world but was also subject to significant ups and downs.
Ethereum developers have long been working on version 2.0 of the platform to bring it into the future of decentralized finance (DeFi). It’s a complex job that is going through a series of tests. In recent days, it’s been announced that the public phase will begin on August 4.
The moment for Ethereum is excellent, but in the blockchain world it’s really impossible to predict the future. In the short term there’s the possibility of earning a lot just from the growth of the Ether, but in the medium to long term, anything can really happen. There are analysts who warn that the so-called whales, as investors who own Ether for the equivalent of millions of dollars are called, are maneuvering to exploit the moment and sell at the right time. In short, there’s the risk of a new collapse in its value.
Speculations based on the value of a cryptocurrency are risky, but Ethereum offers a growing choice of services that offer other forms of profits by also taking advantage of the smart contracts that are part of Ethereum. There may be periodic profits, and there are services that are currently aggressive in rewarding people who bring new users. There are risks in investing in decentralized finance just as there are in classical finance. Basically, there are chances of profits that can be considerable, but there’s nothing certain.