Ethereum feels like the easiest one to make a bull case for now says Top VC
The year 2018 has not been so gracious for Ethereum, whether it be the Initial Coin Offerings trustability or DaPPs facing scalability issues. No wonder the price of Ethereum, has not been as impactful as the year 2017 when people started jumping into every ICO being offered and wondering how helpful, smart contracts are. However, this does leave Ethereum with room for improvement which makes it one of the most Bullish Cryptocurrencies in terms of the long term.
Fred Wilson, a Venture Capitalist who is not afraid of sharing his opinions, posted a recent short blog on why Ethereum’s scope of becoming something major is high.
Many pessimists who prefer looking at the glass being half empty may disagree with Fred Wilson, due to the current price levels of $132.58 and a devastating market capitalization of $13,702,610,31. However, with Ethereum 2.0 already in the works, scalability is bound to be improved.
Fred mentions in his blog:
“Ethereum feels like the easiest one to make a bull case for right now. It is hated. Everyone has lost their shirt on it by now. Nobody other than developers want to know about it. It feels like time to start nibbling on it but not loading up on it.”
Ethereum 2.0 has begun with Beacon Chain which is bound to be completed by the end of 2018, with the main test net of Q1 of 2019. The remaining two chains will be Shard Chains and Virtual Machine chain.
A recent tweet by David Hoffman, a Blockchain researcher at Bunker Capital and a host of the POV Crypto podcast has uncovered that Ethereum’s new Serenity update will reduce the cost of running a staking node on Ethereum 2.0.
32 ETH for running a staking node in Ethereum 2.0 now costs under $5,000
— David Hoffman (@TrustlessState) November 19, 2018
The primary function of the new Serenity update is to activate the transition from a Proof of Work consensus to a Proof of Stake consensus model.
Ethereum Foundation is working actively towards technological improvements could help pick up the pace in 2019 as it did back in 2017.
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