DeFi is just an appetizer of Ethereum, Ethereum 2.0 is the highlight

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# Blockchain 2020-09-27 11:50 4 15,460 Source: Tao said the blockchain

Recently Bao Erye said, “I used to play 100% only with Bitcoin, but now I change to 50% Bitcoin and 50% Ethereum.”

People who have been in the currency circle for a long time know that every time Bao Erye talked about digital currency, he only regarded Bitcoin as authentic, and said that other coins were counterfeit. No matter what coin he bought, he had to change to Bitcoin in the end. .

This public statement shows that Bao Erye’s views have begun to change and he has begun to realize the value of Ethereum. Why is this happening? I think the fundamental reason is that the recent boom of DeFi makes people have to pay attention to Ethereum, its potential and the future.

In my opinion, DeFi can only be regarded as an appetizer of Ethereum, and Ethereum 2.0, which will be fully implemented in the future, will be the explosion of Ethereum.

Why do you say that?

Because now we all know that the shortcomings of Ethereum are obvious: poor performance, congestion, and the rise of a little application will cause overcrowding and soaring fees. But in such a bad situation, the rise of DeFi can attract many players to rush in and participate, willing to endure soaring fees and congestion.

The full implementation of Ethereum 2.0 will improve its performance to a level higher than the current Ethereum, which will greatly complement the current shortcomings of Ethereum. At that time, many of the functions that various applications want to achieve but cannot be realized will become reality, and the smooth experience they will bring to users will be completely incomparable. This will further promote the explosion and rise of various applications, including DeFi, and bring a wider range of business opportunities and “money scenes.”

I have repeatedly emphasized in the article that Ethereum 2.0 is not only the future of Ethereum but also the future of the entire blockchain public chain. The future of Ethereum will definitely be much larger than Bitcoin.

Bitcoin is based on the foundation of the entire digital currency is its historical significance and the consensus of value storage formed. It is of extraordinary significance but the space for value extension is limited. The foundation of Ethereum is that it will carry infinite possible applications, and its value extension has unlimited possibilities.

Therefore, we must not ignore Ethereum.

Jiang Zhuoer said before: At the peak of this bull market, the market value of Ethereum has a high probability of surpassing Bitcoin.

When the peak of this bull market will come, people have different opinions. In fact, I am not sure whether this round of market is the starting point of the so-called bull market, because the prices of Bitcoin and Ethereum are not high in my opinion. At the time of writing, the price of Ethereum is less than $350, which is about a quarter of the peak price of the previous round.

But I firmly believe that the bull market will come, and the peak of Ethereum in the next bull market will definitely exceed the peak of the previous round by $1,400.

If the market value of Ethereum has a high probability of surpassing Bitcoin, we can make a simple estimate: The market value of Bitcoin is now approximately US$200 billion, and the market value of Ethereum is approximately US$40 billion. Assuming that the price of Bitcoin remains unchanged at the moment, then Ethereum will have a five-fold upside, which is nearly $1800.

But obviously, the price of Bitcoin in the next bull market cannot be maintained at the current price. If it is conservatively estimated that the price of Bitcoin in the next bull market will double to $20,000, then the price of Ethereum It will reach 3,600 US dollars. In the current situation, this data seems to be incredible.

So will this miracle happen in the future? Let’s wait and see!