There has been an epic weekly surge, and ETH is struggling to overcome the resistance level. ETH is expected to recover its $ 200 level as a second wave. However, several traders should withdraw because almost 2 million ETH addresses are in the money, and the breakeven point is reached.
Sydney Ifergan, the Crypto expert, tweeted: “Ethereum (ETH) or any other cryptocurrency of any kind should be usable, otherwise it makes no sense. The value factor is derived from cryptographic scarcity. “
Vitalik recently mentioned the benefits of “deliberately designed and limited centralization”.
Vitalik has tried to compare situations and said that when one person has a big stake + an influence on a result, he will take the time to learn, optimize and use economies of scale to take and execute good decisions.
Centralization is considered risky due to the risk of abuse of power, fragility, low bus factor, etc.
However, when a million people have little interest in and are able to influence it modestly, they do not care and are misled by secondary incentives.
When the two are combined as in a blockchain, Vitalik Opines will be the most resistant of all architectures. For example, he reflected on how minors and transaction processing sometimes work in private transactions; however, their benefits are very less.
The narrow drawback, he said, is that one block producer waits 15 seconds for the next. When there are complex challenges with complex applications, the optimal inclusion of chain transactions becomes necessary, which includes capturing the extractable value of the miner, which is an advantage for sophisticated block producers, risking centralize. The solution here, says Vitalik, is a deliberately designed limited centralization where consensus is divided into two tasks. First, decide which transactions go to blocks. The next step is to check other blocks with transactions.
Ethereum (ETH) Fast forward beyond CoVid-19
A complete ban on fiat money will never happen. A complete government ban will never happen either. These expectations will not materialize significantly. There is a growing number of contributors to the open-source development space, which is healthier than it has ever been before.
The impact of the coronavirus on the economy and the financial markets should lead to a significant change in the economic regime. Whether it’s a change in monetary policy or the central bank’s fiscal expansion, inflation will hit the economy hard. It will not be easy to tolerate. However, cryptocurrency can be the answer to inflation.
Money is a representation of the value of labor and the efficient use of capital. Without these two elements integrated to create value, there will be nothing that we can call economy. This is one of the reasons why usability is one of the scales for assessing the application of cryptocurrency.