All You Need To Know Why Ethereum Is The Backbone Of The Rising Crypto Economy
Ethereum can give us the blueprint for building and improving hypothetically any P2P, C2C system. In a world marching towards carbon neutrality and fighting against climate change, cryptocurrencies are receiving much scrutiny from virtually all corners of the market. Currently, studies suggest that Bitcoin mining alone could push global warming beyond 2°C. While
Ethereum mining emits 11 times less CO2, it still isn’t a viable option when pursuing a future of sustainability. The latest series of upgrades known as Eth2 reduces mining with staking to reduce computing power significantly further leading to ETH having 99.95% lower carbon footprint. The bottom line is that such improvements will allow crypto assets to become a part of the solution for the net-zero pathway rather than the problem that prevents it.
Among essential benefits of Ethereum is opening niche for competitors. New projects like Solana, Cardano and Avalanche are entering the market with blockchains with greater scalability and processing capacity. However, so far none has succeeded in becoming an “Ethereum killer.” Competition enforced by new entrants will help further grow and develop industry.
Furthermore, by unlocking Web3.0 era where people interact without intermediaries it can give big tech companies’ offerings run for their money. Ethereum usage could unlock 1 billion unbanked population living around the world today as well as fight against climate change through carbon neutrality.
Ethereum will continue to be backbone of crypto economy, everything else would just be byproduct of its growing importance. Furthermore, opening up new niche for competitors while enforcing competition through new entrants will only help grow and develop industry further.
Unlocking Web3.0 era where we interact without intermediaries can give big tech companies’ offerings run for their money while also unlocking 1 billion unbanked population living around world today as well as fight against climate change through carbon neutrality it is safe to assume that Ethereum remains the number one blockchain protocol in cryptospace and why there won’t be another “flippening” anytime soon.