Ethereum is celebrating its fifth birthday
Last week Ethereum, the second most popular cryptocurrency was celebrating its fifth anniversary. Let’s recall crypto’s most outstanding achievements during this period.
Today, there are about 5000 different cryptocurrencies and tokens in the world, which are deployed on different blockchains. The most popular among all is the Ethereum blockchain. On its basis such coins as USDT (Tether), USDC (Centre), Huobi token, VeChain Token, OKB (OKEx Token) and others were created. Overall, every fifth token put into circulation is created based on Ethereum.
The bright future awaits — Ethereum 2.0 is few months away. The zero phase of the updated Ethereum 2.0 platform will be launched in just several days. Stage 0 is the first phase of the long-awaited network upgrade to the Proof-of-Stake protocol and will significantly increase transaction speed. Instead of the existing Proof-of-Work system, which employs miners, ETH 2.0 will be protected by users money that will invest a minimum of 32 ETH to run the validator node.
The banks are choosing Ethereum — ING, a Dutch bank, has been working on improving the Ethereum system for many years. The platform is involved in three projects of the financial institution at once. Komgo, a project designed to streamline trade documents that are “already commercially available in ING”. It is also part of Fnality, a consortium for Ethereum payments, which is scheduled to be tested by the end of the year. Finally, there is Bamboo, a bilateral letter of credit. The Bank has also done most of its work, particularly in relation to Zero Proofs. available as an open source project.
Ethereum has become more popular than Bitcoin — as Ethereum enthusiasts believe, the interest of the crypto community in Bitcoin is decreasing, while the Ethereum ecosystem is attracting more and more followers. As a confirmation, they point to a record total amount of commissions that Ethereum blockchain members pay to use this ecosystem.
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