I want to let you in on one of the most prominent crypto events that most people know nothing about.
Ethereum 2.0– this is a massive ongoing upgrade that will drastically change the crypto market, and will likely have a dramatic effect on the price of ETH…
What happens when the supply of anything is cut by 90% but the demand is greater than ever before? That’s exactly what we will see with Ethereum 2.0…
👇So, for everything you need to know about ETH 2.0👇
Here’s a quick breakdown
- New Ethereum that enters into circulation is projected to be reduced by 90%. Less supply, more demand.
- Network upgrades will make the Ethereum network far more scalable and cost-efficient, increasing market scope.
- If enough individuals and businesses use Ethereum, it may actually become deflationary. Meaning no new ETH will enter into circulation.
- The best part… you will be able to earn passive yields for holding Ethereum as it transitions from Proof of Work to Proof of Stake. A far more energy-efficient and regulatory-friendly consensus mechanism.
🧐What is ETH 2.0?
It’s no secret, I love Ethereum.
Ethereum is the first, and most widely used smart contract platform. It is a general-purpose blockchain. Meaning anyone can develop applications on Ethereum in a decentralized manner, and it’s rolling out the biggest update in crypto history…
Say hello to Ethereum 2.0, one of the most substantial updates in crypto history. This will cause massive changes to the Ethereum network, most notably the consensus mechanism between network validators. In layman’s terms, how everyone knows what’s taking place is changing.
Before individuals could mine ETH much like BTC, this is known as Proof of Work (PoW). With ETH 2.0, any individual can help validate the network and earn simplistic rewards through staking. You no longer have to mine ETH to participate in decentralizing and validating the network. Now you can simply “stake” your ETH, on a multitude of platforms, and earn passive income while you contribute to the network. Anywhere between 4.5-10% APY…
Not only can you earn interest on your ETH, but there’s also a huge supply shock inbound for 2022.
The amount of Ethereum that will enter into circulation each year is projected to decrease by 90% or more, depending on how many people use the Ethereum network. As demand and use of Ethereum increases, the total supply of ETH will decrease…
This transition to ETH 2.0 is expected to take place in Q2 of 2022, but I would take that time frame with a grain of salt.
Regardless you should be well informed and well prepared for one of the biggest upgrades in crypto history.
🙌ETH 2.0 and Institutional Adoption🙌
It may come as no surprise that regulators are concerned about the environmental impacts BTC mining has.
Although I believe these concerns are greatly over-exaggerated to advance their own personal agendas, that doesn’t dismiss the reality for big institutional players.
The vast majority of fortune 500 companies, if not all of them, are seriously looking into blockchain technology and the utility it brings to their business. But they’re waiting for government regulation to catch up to speed to reduce their risk exposure. We’ve seen a step in the right direction from Biden’s executive order last week.
However, there are already major players utilizing the Ethereum network including Amazon Web Services, Google, Microsoft, HPE, Citigroup, Comcast, and JP Morgan. That’s not even close to all of them either.
As Ethereum transitions to Proof of Stake (PoS), a much more regulatory-friendly consensus mechanism, the sustainable growth and institutional adoption of the network will increase dramatically. More companies will utilize ETH not only because it’s a more resilient way to handle often sensitive data, but also because of the cost efficiency smart contracts will bring to international business.
The Bottom Line
The Ethereum 2.0 upgrade is well underway, it may take longer than expected to roll out fully but look for substantial changes in Q2 of 2022. With this transition, there is great potential for massive growth and more institution adoption of this ecosystem. With the possibility of a deflationary crypto-currency that has held the number 2 spot under BTC for years, the price of ETH will be greatly impacted…
What happens when the supply of anything is cut by 90% but the demand is greater than ever before? That’s the beauty of programmable money like ETH…
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Be on the lookout for my next update. See you on the blockchain. 😎
