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Ethereum is the most popular altcoin in the crypto ecosystem. Coming second only after Bitcoin in terms of market capitalization, Ether is the native crypto coin of the Ethereum blockchain. The two terms are often used interchangeably, with traders often using the word “Ethereum” to refer to the digital currency they buy or sell. The fact that ETH is well-established on the market means that it is generally regarded as more stable among investors. Cryptocurrencies have a reputation for volatility, with their prices changing rapidly, sometimes from one hour to the next. Supply and demand, as well as world events and news, are the most common culprits behind these frequent fluctuations.
Therefore, when you’re a trader, you want to check the Ethereum price today regularly to get a sound idea of when’s the best time to commence a transaction. You don’t want to look at the values too often, as fluctuations are still common within the Ethereum blockchain. Seeing a sudden plunge or spike in prices can cause you to act rashly and make emotional decisions. It’s important to stay objective when placing a trade, as any action done within the spur of the moment is likely to have unfavorable consequences in the long term.
Adding to that, you are likely aware that the year that has just passed hasn’t been great for Ethereum or any other cryptocurrency. Prices have dropped, and many investors found themselves in dire financial straits. Many are still wondering if it’s still worth it investing in crypto in 2023 or if they should take their capital somewhere else. Let’s have a closer look at what you can expect from ETH this year.
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The name likely sounds like a handful, but this is one of the changes you can expect to see from Ether somewhere around fall 2023. You’ve probably heard of sharding before, the process that splits the network across several different chains (referred to colloquially as “shards”). The aim of this measure is to make the blockchain more scalable and improve accessibility and ease of use. The different chains boost the amount of network activity the blockchain can process. This also increases Ethereum transaction speeds (which were already quite impressive compared with the rest of crypto) and decreases gas fees.
Down to the basics, danksharding works by using the exact same principle of splitting the same platform into smaller components that are easier to manage. However, the difference lies in the ultimate goal of the process. Danksharding isn’t focused on improving transactional speed. Instead, it helps improve the speed and efficiency at which “blobs” of data are processed and stored. Standing for “binary large object”, such collections of data act as a single entity. Unlike other data strings, blobs come in the form of audio or video files and not only as strings of executable codes.
Danksharding is set to be one of the most exciting things that developers will work on in 2023. According to experts, it has the potential to provide true scalability for Ethereum and attract brand-new traders to give crypto a chance.
Crypto has long had a reputation as an asset that is fully censorship-resistant. This is mainly due to the fact that it is fully anonymous and that all transactions that take place within it occur without the involvement of a third party. Only the people involved in the actual transaction see what happens, and only they are responsible for the process. While this has largely been touted as a positive aspect by investors, there are some who claim that crypto’s strength is also its Achilles’ heel. That is because should your wallet be targeted by hackers who manage to extract your coins, you will likely never see them again. That is because any actions taken within the blockchain cannot be modified once they’ve been completed.
However, with digital assets entering the mainstream market at an increasing speed and countries such as El Salvador taking steps to adopt cyber money as legal tender, lawmakers have begun to take a more severe look at crypto. The following year will likely see a push towards adopting more rules for the blockchain space, with the purpose of improving the safety requirements of the platforms. However, many investors are likely to be skeptical about the changes. After all, developers have worked hard to create decentralized software, and replacing it with something more traditional can seem like a betrayal of Ethereum’s original goal of decentralization. However, there’s a risk that ETH’s value will continue to decrease in the absence of more solid regulations.
Events And Meetups
Ethereum events that aim to bring together developers, policymakers, investors and other community members are pretty standard. If you want to learn new things about crypto or share your ideas with like-minded individuals, these venues are the place to do so. Over the past years, there has been no shortage of global events bringing the ETH community together, and they’re sure to continue over 2023 and into the future.
The largest conference for Ethereum developers, Devcon, is set to take place in 2023, although the exact location is yet to be determined. In 2022, the forum was hosted in Colombia. This legitimate highlight in the year of crypto lovers unites members of the community from all corners of the globe, helping to drive through innovations and come up with new ideas that improve the Ethereum blockchain.
And if you haven’t yet decided on your plans for the summer, save a few days between July 17th and 20th, when you can attend the EthCC in Paris. Last year, one of the most debated topics was regarding the various rollup solutions.
Ethereum is one of the most popular cryptos in the world. While 2022 has been a rough year, and prices have plummeted, investors are still optimistic and believe the coin is likely to bounce back sooner or later. Indeed, this isn’t the first time ETH has recorded rather drastic plunges. It has always come back up to the surface.