Ethereum Keeps Upping its Game (Big Moves from Ethereum TODAY)

if you look up the most used words in the english language first on the list is the the list goes on mostly prepositions conjunctions and verbs like my one of an it you have to get all the way down to number 55 until you see a true noun the word time well if someone compiled a list of my most used words anyone who's watched this channel for more than a day would not be surprised to see ethereum pretty high on that list i've been talking about ethereum for a long time i've been talking about ethereum on this channel since it was a couple hundred dollars and there are many reasons for that ethereum is the most useful asset in crypto it's being developed constantly it's got over 200 000 erc 20 projects it's the leading network for divi platforms it's home to many stable coins and it uses smart contracts historically ethereum also outperforms bitcoin and price it's hard not to talk about ethereum all the time and today we're going to look into what ethereum has been up to lately let's get it welcome to bitboy crypto home of the bit squad the largest and greatest crypto community on all the interwebs my name is ben everyday on this channel i show you how to make money in crypto if you like money in crypto make sure to hit that subscribe button in this video we talk about what's new with ethereum and how to stay ahead of the pack although ethereum itself is about a year away from being a proof of stake smart contract platform which will happen with the release of e 2.0 many of the projects that run on ethereum's proof of work consensus are still humming along just fine ethereum is currently the highway that over 200 000 erc 20 smart contract projects drive on smart contracts are just what they sound like contracts between two parties that are made smart by establishing parameters beforehand and when the parameters are met the contract fulfills automatically examples of smart contract agreements are monetary transactions landings loans and insurance sergey nazarov co-founder of chain link smart contract protocol that currently runs on the ethereum network spoke with lex friedman on his podcast about how powerful smart contracts really are in early may nazarov gave the example of crop insurance in developing countries if a farmer plants a crop and it never rains in america the farmer would get crop insurance so he wouldn't have to close down the farm the next year some developing nations are decades away from this kind of insurance project being established and no rain can mean losing the farm however if a farmer used a smart contract platform to purchase insurance the smart contract would operate automatically pay out the farmer if the crops didn't grow since it's a smart contract there would be no room for corruption no claims adjuster decide if he's going to get the payment and no government approval needed smart contract can be programmed to monitor the weather in the area and if there was no rain the contract would be fulfilled automatically and the farmer would get paid smart contract transactions go through when the terms of the contract are met and the transaction fails if the terms aren't met as you can imagine this has a multitude of practical applications like crowdfunding where the contract only succeeds if the project gets fully funded and otherwise the funds are returned to the people who funded it ethereum is already running endless smart contract protocols and eth itself is upgrading at a rapid pace to function exclusively as a smart contract ecosystem ethereum has many use cases that will become even more efficient with the release of e 2.0 looks like once again solidity is javascript like programming code speaking our language shoyo an umbrella term for japanese soy sauce has become the moniker for the new nft platform by levex on sushi swap the platform is nearly complete with the back end finished in the front and inverse structure to be released in version one and version two stages within the year sushi swap is a popular d5 platform that runs on ethereum and the aim of the nft platform is to bring social tokens multi-format nft support programmable art fractional nft ownership and much more focus of the platform will be immersive gallery mode which is the sushi swap adaptation to the 3d metaverse which will run on ethereum ah the metaverse not just for gamers and sci-fi nerds the metaverse is coming to the real world in the future and nfts on ethereum will play a major role in it think of the metaverse as augmented reality where users can interact with things and go to places in virtual reality itself like i said this isn't just gaming imagine you could take your kids on a field trip to see the egyptian pyramids for a fraction of the cost and without leaving your house or go see a movie with friends who live on the other side of the world what about real world online shopping actually seeing an item from all angles being able to touch it before you buy it or getting news and alerts in a dynamic way that directly connects with your life this is why apple is currently reviving the idea of google glass wearable computing that can augment reality in a real way and why kids around the world will be asking for vr goggles at christmas all this upcoming augmented reality is going to be a commodity and will need to be paid enter nfts that run on ethereum the release of shoyo hasn't done much or the price of sushi or ethereum yet but this is only because the metaverse is still in its infancy but it's coming people are starting to speculate on the potential for a boom in the future divi another top word in my vocabulary and i don't see that changing anytime soon why because devi is only getting started on friday david hoffman of bankless a paid newsletter program for everything crypto tweeted that every new defy app that is deployed to ethereum is an upgrade to eve device is absolutely crushing price action right now many technical analysts for bitcoin believe that devi is going to be the first mover in getting us out of this mini bear market if you don't know devi is short for decentralized finance where monetary transactions can be made autonomously with automatic market makers or amms funding is provided by user-driven liquidity pools transactions are fulfilled automatically prices of an asset are determined mathematically by a formula created by vitalic buterin and simplified by unit swap x times y equals k basically what this means is an assets price goes up as the liquidity in the pool decreases and down when the liquidity in the pool or demand for the asset decreases pretty simple device is far and away the future of finance because it takes the middlemen and all the fees that go along with them out of that equation it gives people an institutions power over their money and their transactions it's also more profitable if you compare the yields of adding your funds to liquidity pools versus traditional bank interest rates which are as close to zero as you can get without being round all this powerful tech you guessed it most of it runs on ethereum with the london hard fork set to be released in mere weeks which will help to regulate gases and institute eth burning to make the asset deflationary over time any 2.0 which will bring full smart contract operation to ethereum it's easy to see why it's one of our favorite crypto assets and a mainstay in my vocabulary analysts at goldman sachs the second largest investment bank in the world have reaffirmed their bullish stance on ethereum saying that they believe ethereum will be a better store of value than bitcoin recently goldman sachs filed for a bitcoin etf with the sec matthew mcdermott head of digital assets stated that there is an interest from clients who are in ethereum etf because they see its price as a better entry point with more upside potential the reason that goldman sees ethereum as a better store of value is its high use potential and the fact that so many smart contract platforms already run on it an article in forbes says analysts at wall street giant goldman sachs have predicted ethereum has the potential to eclipse bitcoin in the coming years institutions are here to stay and ethereum has become a highly used word and big banks and investment firms everywhere welcome to my world goldman sachs finally stable coins there are many stable coins that run on the ethereum network and circle issuer of the usdc stablecoin plans to go public in a 4.5 million dollar spac deal spac or spac is short for special purpose acquisition company which basically means a company that doesn't do anything but has a lot of money and is looking for an existing company to take public that actually does do something in this case the spat is concord acquisition group and they've gotten funding from fidelity and marshall waste and will at advisors which is the investment group for michael bloomberg's personal philanthropic assets each usdc is fully backed by u.s dollars in equivalent assets and plans to intensify the stablecoin battle for market supremacy that have been churned up with tether over whether usdt is fully backed by usd and equivalent assets whether tether has been targeted by fud is another issue entirely but the news at usdc is stablecoin with massive backing from the digital currency group shows just how important eath will be to the future of stablecoins stablecoins devi and nfts means that ethereum is only increasing in usability and value no wonder ethereum has outperformed bitcoin and prize and why we believe ethereum history is going to repeat that's all i got be blessed good way out [Music] you

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