What’s Hot in Crypto this week?
Ethereum. It’s the second largest blockchain platform in terms of market capitalization. Ethereum was the first to introduce a blockchain system that could also facilitate all sorts of “decentralized applications.” It opened the door for all of the blockchain use cases that bitcoin, which is only intended for the transfer of its digital asset BTC, doesn’t allow for.
ETH is Ethereum’s native currency, used as “gas” to pay for network transactions. It currently boasts a market cap of over 66 billion, with a 24 hour trade volume of $23 billion.
Why is it hot now?
Ethereum is moving from a proof-of-work blockchain, where computing power determines rewards, to a proof-of-stake platform (dubbed Ethereum 2.0), where anyone who locks up their ETH can be chosen to validate blocks.
This is not only more energy efficient and better for scaling up, but it should also allow