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Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
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xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Defi Review #4: AAVE The Defi Lending Services
AAVE is a decentralized finance lending service before decentralized finance even existed. It is an innovation lending service in crypto and one of the first kind. However, the lending service may only restrict to the crypto community and it may expand into the traditional financial field later. TL;DR AAVE is a crypto lending financial service which to provides lending services to the crypto community. They focus on security and smart contract lending may be the future of financial services. ...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
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Ethereum changed the name of its original roadmap from Ethereum 2.0 to the consensus layer. It further confused people about their progress in upgrading the protocol. Or it is just a way to cover up their screw-up in the upgrade process.
TL;DR
Ethereum 2.0 roadmap has changed. ETH 2.0 now is a consensus layer. Naming does not that important, but there is not much progress on how Ethereum 2.0 will eventually roll out.
Here is a 1 min summary of the article if you want to skip the reading.
Ethereum 2.0
From the legendary, Ethereum 2.0 is a better version of Ethereum 1.0. Everyone is looking at the upgrade. However, since the announcement, it had been almost 2 years, nothing had happened on the protocol despite the marketing being very successful in drawing more attention to Ethereum itself.
Proof of Stake
Another myth of a better version of Proof of Work, Proof of Stake sounds like to fix everything. Proof of Work is lacking. Yet nothing has really been implemented and tested yet.
Ethereum Makes a Facebook Move
Facebook changed its name to Meta and claimed to enter Metaverse. Many speculations point out they want people to forget about what they did in the past to lure people into giving privacy for free and for them to exploit. Their brand is damaged, and Meta May change such perception. Ethereum likely tries to do the same thing. Forget about Ethereum 2.0. We should focus on the consensus layer now or whatever they really mean.
Gas Fee
The most prominent challenge Ethereum faces now is a very high gas fee. It kills the momentum of users to adopt the protocol and conduct any work on the blockchain likely. Everything is costly and people will not like to use it unless it is necessary.
Competition
Many other new solutions are introduced, whether through new layer1 technology such as Cardano and Solana or layer 2 technology such as Polygon. People will switch their focus to a low-cost environment and develop their products on top of such blockchain technology. Ethereum will be left out and progress slower than competitors.
In Conclusion
The gas fee is killing Ethereum’s future, and changing the roadmap name will not fix it magically. Ethereum is facing now it will be challenging to become the most popular blockchain in the crypto-verse.
Ethereum changed the name of its original roadmap from Ethereum 2.0 to the consensus layer. It further confused people about their progress in upgrading the protocol. Or it is just a way to cover up their screw-up in the upgrade process.
TL;DR
Ethereum 2.0 roadmap has changed. ETH 2.0 now is a consensus layer. Naming does not that important, but there is not much progress on how Ethereum 2.0 will eventually roll out.
Here is a 1 min summary of the article if you want to skip the reading.
Ethereum 2.0
From the legendary, Ethereum 2.0 is a better version of Ethereum 1.0. Everyone is looking at the upgrade. However, since the announcement, it had been almost 2 years, nothing had happened on the protocol despite the marketing being very successful in drawing more attention to Ethereum itself.
Proof of Stake
Another myth of a better version of Proof of Work, Proof of Stake sounds like to fix everything. Proof of Work is lacking. Yet nothing has really been implemented and tested yet.
Ethereum Makes a Facebook Move
Facebook changed its name to Meta and claimed to enter Metaverse. Many speculations point out they want people to forget about what they did in the past to lure people into giving privacy for free and for them to exploit. Their brand is damaged, and Meta May change such perception. Ethereum likely tries to do the same thing. Forget about Ethereum 2.0. We should focus on the consensus layer now or whatever they really mean.
Gas Fee
The most prominent challenge Ethereum faces now is a very high gas fee. It kills the momentum of users to adopt the protocol and conduct any work on the blockchain likely. Everything is costly and people will not like to use it unless it is necessary.
Competition
Many other new solutions are introduced, whether through new layer1 technology such as Cardano and Solana or layer 2 technology such as Polygon. People will switch their focus to a low-cost environment and develop their products on top of such blockchain technology. Ethereum will be left out and progress slower than competitors.
In Conclusion
The gas fee is killing Ethereum’s future, and changing the roadmap name will not fix it magically. Ethereum is facing now it will be challenging to become the most popular blockchain in the crypto-verse.
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