Ethereum wil lead the next bull run | Ethereum provides internet to West Africa

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Ethereum wil lead the next bull run | Ethereum provides internet to West Africa



There is good news on the horizon for Ethereum Hodlers. Let’s discuss some ideas for the next bull run and then jump into the most recent news for the Ethereum project.

Nothing should be taken as financial or investment advice. Enjoy the ride.

Next Crypto Bull Run

Upcoming developments on the Ethereum blockchain could postpone the projected bull run we have waited so patiently for. It can be assumed that the ongoing influx of capital due to token sales during the 2017 bull run had a larger part to play in the FOMO then previously realized. In 2017, international streams of investments would pile into almost any token sale regardless of working product, whitepaper, or if the project was even legit, talking about you Bitconnect.

It would not be far fetched to say that Ethereum could easily trigger the next bull run as well. Clearly from the most recent Bitcoin price flux, there was not enough pressure to create altcoins to follow. This could be due to the fact that the Bitcoin price is heavily manipulated on fiat to crypto trading pairs and not as much influenced by crypto to crypto trading pairs. This may become a stronger case as the markets develop and financial vehicles begin to open up to the more traditional markets.

Ethereum Leads the Next Bull Run

Due to the increased exposure to Bitcoin based on futures, cash settlements, and stablecoins, the surge in Bitcoin price did not effect the rest of the market as anticipated. Granted, there could still be an altcoin market right around the corner. With current information, it seems as if Bitcoin price surging is no longer enough to carry the market upwards independently.

There could be multiple reasons for this, but most evidently is the lack of surge in the Ethereum price and tokens. Remember, most coins on the market are tied to Ethereum if they are token based, utilizing one of the protocols, or running through smart contracts Ethereum hosts on the network. Additionally, there are numerous global business models structured around Ethereum and the native language solidity. It makes sense that without Ethereum surging to new yearly highs like in 2017, the market will not follow Bitcoin alone. To note, most DEXs are also Ethereum based and the change in Bitcoin price will have very little effect on those markets as they continue to grow.

Ethereum Tenthening

Besides the bull run focus, there is currently a proposed plan that should be implemented throughout 2021 for the Ethereum updates. The plan aims to cut the Ethereum mining rewards from 2 ETH per block to only .22 ETH. By no means is this plan set in stone, but there is a good fundamental basis behind the severe cut. Specifically, Ethereum will be transitioning to its Proof of Stake consensus algorithm over the next two years. This means validators of the network will no longer require the larger rewards in order to pay for the mining expenses.

The reason this update will take as long as two years is due to the immense complexity of the network. Additionally, it will take time for all of the Proof of Work mining farms to convert over to the staking chain. For some time, there will actually be Ethereum on the proof of work chain, and some following behind it on the proof of stake chain.

Trustnodes wrote an awesome article on the technical aspects behind some of the projected updates. I suggest heading over there if you want to learn more about the nitty gritty details of this proposed plan. Although, I would not think to highly of it as none of the developers really know the exact changes that will befall Ethereum in the coming years. This is the problem with announcing anything, it could not even happen.

Ethereum Providing Internet

https://twitter.com/kiwi66/status/1144561429753847808/photo/1

In completely unrelated news, an Ethereum based venture, Cajutel, has become licensed to start its services in SierrLeona to bring affordable internet to the region. Based on the Yahoo article that covered this news, only 13% of the country is currently able to access the internet (the thing you are on right now), and the ones that can access it spend an average of $99 per month to do so. The internet they do receive is additionally extremely slow, has low bandwidth in general, and nearly no data (5mbps).

Removing the limitations from poorer countries around the world is apart of what the crypto movement was initially designed to do. It is exciting to finally see these things happening. Soon West Africans will be able to access cheap and reliable internet, which will help the country flourish from improved trade, education, and resource development.

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