ETHEREUM - WHAT'S THE FUTURE FOR IT?

ETHEREUM - WHAT'S THE FUTURE FOR IT?

By TokenOnFire | holdthatcrypto | 21 May 2021


As you may have read recently - Tesla does not accept bitcoin anymore over environmental concerns. This may be true for Ethereum as well - well, for the moment it is true.  Just for the record, Ethereum mining consumes 1/4 to 1/2 energy that Bitcoin mining does. However in my view, Ethereum has got a better vision and plan for the future. It wants to go on a diet when it comes to the consumption of energy. 

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Pixabay.com

 

Like many other cryptocurrencies, Ethereum relies on Proof of work and this consumes a lot of energy. Ethereum plans to replace proof of work with Proof of Stake. This move is going to cut off the use of computational power and energy consumption significantly. As a result of being more ecological, no one will dare to say that their company will not use Ethereum because of it's environmental concerns. 

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What am about to write is not necessarily true, but this is just my view. Imagine that the price of bitcoin went down over environmental concerns, when Eth 2.0 will be live and will prove to be more eco-friendly - imagine how the demand will rise. There may be many organizations that would switch to Ethereum over other existing cryptos. 

I am not a financial advisor, but I am strongly confident that holding Ethereum might be a valuable asset in your portfolio.

You can read more about the eth2 merge here.

If you are a crypto investor, I wish you get super rich very soon.

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