Second layers will save the day in 2021, bolstering Ethereum and DeFi
In 2021, we’re likely to see a lot of crypto industry players adopt sidechains and parachains to provide a better experience for their users. When the decentralized finance sector exploded in summer 2020, it was an eye-opening moment that showed crypto’s actual capabilities to revolutionize finance. However, the boom also exposed a lot of vulnerabilities of the Ethereum network, which most DeFi projects are built upon. The most serious ones included high gas costs and low scalability.A bull cycle has kicked in since then, lifting Ether’s (ETH) value to a new all-time high — and now the....
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Until Ethereum 2.0 proves it can do what it claims it can do, its full impact on DeFi and other applications remains to be determined. Many people are anxiously observing the launch of Ethereum 2.0 because the media has touted it as a “game-changer” for the cryptocurrency industry. Yet the masses seem to forget there are viable alternatives in existence already.Is Ethereum 2.0 taking too long?In recent days, there has been ample excitement surrounding Ethereum 2.0. The beacon chain deposit contract successfully achieved enough deposits to launch Eth2 Phase 0 in December 2020. That is only....
DeFi on Ethereum is costly and congested. Can other base layers step up? Polkadot's Reef Finance has raised $3.9 million to try.
In July 2021, the non-governmental organization (NGO) Save the Children in Rwanda announced it partnered with the Cardano Foundation on a project that allows well-wishers to make donations in the form of cryptocurrencies. Save the Children Meets ADA At the time, it was revealed that Save the Children’s acceptance of ADA donations was not the first time the non-governmental organization (NGO) had accepted crypto. In fact, Save the Children says it has been accepting donations in cryptocurrency form since 2013. However, some have questioned the wisdom of accepting donations in a form....
Ethereum maintains the largest market share of the decentralized finance (DeFi) market. DeFi has boomed through 2021 and market crashes have not slowed down the space. DeFi protocols have seen a high rate of adoption among users. With networks like Solana and Cardano unveiling capabilities to enable them to compete with the top DeFi platform, […]
While we casually talk about Bitcoin having multiple layers, the word itself has historical meaning.