2020 A Decisive Year For Blockchain Via Ethereum? – The Coin Republic

Ritika Sharma Wednesday, 08 January 2020, 06:42 EST Modified date: Wednesday, 08 January 2020, 06:42 EST

What if I say that Ethereum could provide us with a global economy up to $80 trillion? That is indeed a thoughtful idea, as gold-which has a high demand and is much precious, has a market cap of $8 trillion in the present world.

Well before we get into a discussion further, let us first notice what Andrew Keys, the former Head of Global Business Development at ConsenSys and now the managing partner at Digital Asset Risk Management Advisors (DARMA Capital), says.

Keys says that BTC and blockchain would think of individual entities of their own as Ethereum which considered to be the dial-up internet would be more or less compatible as the Broadband. According to him, while Bitcoin can be used for a particular cause, Ethereum can be used to benefit the world and the community in plenty number of ways.

The Open Source, Blockchain-based distributed computing platform, Ethereum, could digitize many of the assets such as gold, software licenses, debt, derivatives, etc. In his blog post of ConsenSys, he also mentions the by far pace of the development of Ethereum 2.0. The phase 0 of the Ethereum would be instead replaced by step 1 by the use of SHARD Chains.

Moreover, as Keys also suggests the benefits of Bitcoin as a way which could bring the peer to peer network, a consensus-building algorithm and a virtual machine for aiming a solution to the double-spent problem and the Byzantine generals problem he also says that Ethereum could kick start the decade with amazing benefits.

The Bitcoin maximalists that believe that Bitcoin is where this decentralizing technology will stop will be in for a rude awakening. Bitcoins ascension to digital gold has been astounding and has signalled the beginning of a whole new techno-economic era. But digital gold is just thata beginning. Keys Says.

Keeping the two technologies aside, Andrew also predicts Web 3.0, which is the 3rd gen of the Internet services, would also see its upliftment by taking Ethereum as a base. To create more connected and open websites, Web 3.0s elements would also see a boom in 2020.

As an instance, the Filecoin, developed by Protocol Labs, would help with the provision of space in hard disks for cryptography.

Thus, as a conclusion, it can be indeed be said that the year 2020 could be a boom in the world of blockchain technology, so let us see what the powerful asset ETH has to offer in its course of making it a superpower.

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2020 A Decisive Year For Blockchain Via Ethereum? - The Coin Republic