Created as a decentralized open-source blockchain, Ethereum focuses on smart contract purposes. Trailing behind Bitcoin in overall market capitalization, it was co-designed by Vitalik Buterin, the co-founder of Bitcoin Magazine. Not only is it an entire software platform, but it also supports its own cryptocurrency ETH. Recognized as a secure way for digital investors to enable SmartContracts and Distributed Applications, Ethereum has remained popular.
Ethereum 2.0 in the Headlines
Competition in the financial market can be harsh, so it is essential for Ethereum to recognize current trends and technology. Having the ability to evolve and grow to users’ needs is essential in any industry, especially digital finance. And ETH has proved this point by holding fast to its spot in the cryptocurrency world with Ethereum 2.0 discussions.
This evolutionary design concept focuses on simplicity for users with little knowledge or skills of cryptocurrencies. By saving time, Ethereum 2.0 is aiming to upgrade the current network by aiding with Proof-of-Stake instead of miners. This change to PoS will also help by reducing the cost of processing power for users. While crypto investors wait for this new and improved version, currently there is no set 2020 launch date.
The Future Market Movement for ETH
The anniversary date July 30th of Ethereum’s launch is fast approaching. Many crypto enthusiasts are convinced that the release of Ethereum 2.0 will coincide with this date. As this is just speculation, investors are silently gearing up for July 2020. Considering this upcoming rollout will occur in several phases, historical data can show that Ethereum will have significant market movement.
From generating more interest in Ethereum to creating a supply and demand, the possibility of ETH climbing is quite possible. This possibility is what many current ETH investors are counting on for their own portfolios. One thing is certain; ETH continues to perform in the market despite competitors or outside factors like the COVID-19 pandemic.
What’s in Store for Ethereum?
The future is never certain, especially in world markets like finance. Considering this, investors can make adjustments to their portfolios to minimize any risks that could happen down the road. Future predictions for ETH are abundant online but should be considered as educated guesses and not facts. It is up to each investor to make the final decision on which cryptocurrencies will be used in the long-term.
As Ethereum nears its 5th anniversary, many enthusiasts have seen it perform and remain a stable choice. It has made leaps and bounds in a short few years, giving investors hope for the future of their investments. For many crypto enthusiasts, ETH is not a get-rich-quick token, but rather an investment for the long-haul.
If you are thinking about dabbling in cryptocurrency or considering adding to your portfolio, Ethereum could be a solid choice. You may not want to wait to see how the market will move in the future and miss out. 2020 could be the year where ETH becomes the newest and biggest trend for cryptocurrency around the world.