Ethereum trading at highs of $4,800 in November 2021 has now dropped to $1,140 in July 2022. Under such heavily bearish circumstances, you might wonder whether Ethereum is a good investment or not.
Ethereum is the 2nd largest blockchain platform and highly innovative technology that holds the power to bring about immense change in the whole world.
For Ethereum to evolve into Ethereum 2.0, it is upgrading its algorithm that is going to transition from Proof of Work to Proof of Stake. Its canter of attention is energy efficiency and staking instead of mining.
Proof of stake involves active transaction and network support by holding funds in the crypto wallet to ensure safety.
Now that we have an understanding of Ethereum, let me tell you how investing in it is a smart financial decision that could pay off big time!
SMART CONTRACT MANOEUVRE
The Introduction of dApps and smart contracts has slackened off transactions by eliminating the middlemen. This will lead to the ability to buy assets from all over the globe without dealing with banks and bureaucracy.
ASSET TOKENIZATION
Ethereum has enabled the tokenization of artwork, patents, mortgages, transactions, and even voting.
According to the World Economic Forum, blockchain technology will facilitate up to 10% of the global GDP by 2025–27.
UNCENSORING CENSORSHIP
Do you consider censorship to be a bona fide concern? If you do, this is going to be an absolute game-changer.
Our regulated social media platforms hold the complete power of deleting, editing, or hiding data. Ethereum can help eliminate censorship to keep societies informed.
AMELIORATE INTERCONECTIVITY
Ethereum can connect not only individuals but businesses present across the globe too.
SOLVING SCALABILITY ISSUES
Bitcoin being capped at 21 million, faces scalability issues that get solved by Ethereum which are around 120M and are increasing.
Fundamentally, Ethereum is one of the best cryptocurrencies which is used as a launch platform for decentralized applications including games and NFTs. This proves a real demand for Ethereum blockchain technology.
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