jakiro
Author: Climber, Bitchain Vision Realm
With the passing of Bitcoin spot ETF, the market has come to an end of the market.The price of BTC also fell from nearly $ 49,000 to $ 41,000. The discussion and investment wind direction of community topics gradually turned to Ethereum ecology and concepts.
Previously, the BTC ecology ushered in a wave of rising, while Ethereum, which has the title of “King of Wanlin”, has not increased much, especially the increase in the L2 track currency is generally lower than expected.However, recently, the price of Ethereum has risen to exceed 2,700 US dollars, a new high since June 2022. The related concept sectors such as L2, LSD, RESTAKING, and modularization have also ushered in significant rise.
The market generally believes that after the Bitcoin, Ethereum spot ETF will also pass, and the upcoming Cankun upgrade is also a great good. In the future, projects around the Ethereum concept will become the focus of investment.
So, for investors, is it the most suitable time to enter?After crossing the beeper, where are the leading projects and new generation potential projects in Ethereum ecology?Where is the popular and high degree of discussion of the concept of Ethereum?
1. Two major favorable expectations: Cankun upgrade and Ethereum spot ETF
1. What is the Cancun upgrade?
On January 17, the Goerli test network Dencun hard fork was officially completed, and the next step will be Sepolia and Holesky Test Network.Once Dencun runs smoothly on all three testing networks, it will be arranged on Ethereum main network to activate.
What exactly is the Cancun upgrade?Why do I need to go through three test network tests before the Ethereum main network deployment?
Ethereum Cankun upgrade (also known as “Kankun-Derbu” upgrade) is the result of Ethereum to enhance its infrastructure and solve the unreasonable efforts after the upgrade of Shanghai.
Ethereum Cankun upgrade is committed to introducing the concept of Proto-Danksharding to improve the scalability, security and efficiency of the Ethereum network.Danksharding refers to the final stage of the upgrade of Ethereum 2.0 (“Quiet” stage), and is committed to strengthening data management and transaction processing.
The Ethereum Cankun upgrade was originally planned to be carried out in October 2023, but it is postponed until the first half of this year.
Cancun upgrades are based on four Ethereum improvement proposals (EIP): EIP-4844, EIP-1153, EIP-4788 and EIP-6780.The goal of Cankun’s upgrade is to improve the amount of transaction processing (TPS) of the network, which aims to increase performance to 100,000+ TPS, which is consistent with the “Surge” stage of the Ethereum route.
Ethereum Cankun upgrade will bring a series of benefits, including increasing transaction processing speed, reducing transaction costs, optimizing data, and improving cross -chain communication.The upgrade also introduces the concept of carrying BLOB transactions, and is committed to simplifying data processing and improving the overall network efficiency.
Looking back at the upgrade in Shanghai on April 12, 2023, Ethereum rose significantly.One month before the upgrade, the price of ETH was $ 1368 on March 7, but after the expected speculation, it rose to a phased high of $ 2141.54 before the upgrade date, an increase of about 56.54%.
2. Ethereum spot ETF
Earlier, Bitcoin spot ETF passed the increase in the price of BTC, which was obvious to the discussion scope of the market through the process of Ethereum spot ETF.
Bellaide CEO Fink said that he saw the value of launching Ethereum ETF; MatrixPort said that the future Ethereum performance will be better than Bitcoin.
But whether the Ethereum spot ETF can pass and when to become the focus of discussion.
Earlier, the US SEC has sued multiple encrypted exchanges because they are listed as a crypto assets that are regarded as securities, including other L1 tokens, such as SOL, Near, and Atom.But in these law enforcement operations, none of them listed Ethereum as potential securities.
On January 13th, JPMorgan Chase strategist Nikolaos Panigirtzoglou said in an interview with The Block that the US Securities and Exchange Commission (SEC) to approve the ETF spot in May in May, it is necessary to classify Ethereum as a commodity (similar to Bitcoin.) Not securities.However, this is far from determined, and it believes that the possibility of SEC classified Ethereum as a product before May will not exceed 50%.
However, the analyst also said that SEC has approved Ethereum ETF, which holds a commodity futures contract in October last year, to provide clear information for Ethereum as non -securities.
According to the information disclosed by the SEC official website, the final approval deadline of Ethereum spot ETF is May 23.
2. The Ethereum concept project worthy of attention
Multiple encrypted research institutions generally believe that the upgrade of Cancun is the most important benefit of Ethereum in 2024, and Ethereum ’s prosperity will also promote the prosperity of the L2 ecosystem, and bring up the popularity of LSD, RESTAKING, and modular track.
1. L2
On January 12, according to L2Beat data, Ethereum Layer2’s total lock volume (TVL) exceeded US $ 23 billion, a record high.
At present, the L2 track battlefield is fiercely competitive, and the new husband’s chain project has its own advantages and disadvantages.For investors, while being familiar with an old chain, we must also pay close attention to the trend of new forces.
Overall, the L2 project worthy of attention is:
Polygon (MATIC):
The Polygon network uses Plasma technology to process the under -chain transaction, and then records the Ethereum chain to achieve higher transaction throughput.Theoretically, Polygon can handle 65,536 transactions per second on a side chain.
Some well -known projects such as AAVEGOTCHI, Decentral Games, EasyFi, NEON District, Polymarket, and Sushiswap are all using Polygon as infrastructure.
Arbitrum (ARB):
Arbitrum is the second -level blockchain of Ethereum, using Optimistic Rollups extension technology.The Arbitrum blockchain uses ROLLUP to merge a number of transactions into one item to reduce the cost of transaction on the chain and increase scalability.
Therefore, ARBITRUM can achieve an throughput of up to 40,000 transactions per second at a much lower miners than Ethereum.
Optimism (OP):
Optimism is the first Optimistic Rollup solution to Ethereum L2, which is the first Optimistic Rollup solution compatible with the Ethereum virtual machine (EVM).
Optimism is parallel with Ethereum, which can deal with transactions on a large scale while inheriting the security of Ethereum. The main feature is to reduce transaction costs on the Ethereum chain.Optimism provides Ethereum developers with the opportunity to use all tools on Ethereum without changes.
Its development team stated that traders need to pay by 10 times lower.In addition, Optimism uses Optimism Rollups to solve the problem of fraud and invalid state conversion.
Immutable X (IMX):
Immutable X is committed to solvingNFT and Web3 gamesThe Layer 2 extension scheme is currently deployed on Ethereum. Using IMX can realize the safe carbon neutrality of Trade NFTS without any consumption.
IMX’s ZK-Rollup technology Stark Proof was developed by Starkware. It combined hundreds of NFT transactions under hundreds of chains and generated an effective proof of encryption to ensure the effectiveness of the transaction.In addition, IMX encapsulates this ZK-Rollup expansion solution in a set of powerful REST APIs, allowing developers to easily build their NFT applications.
Skale (SKL):
The Skale network aims to reduce transaction costs by introducing scalable Web3 -side chains SKALE chains and make network participants high throughput.By creating an expansion side chain compatible with EVM and interacting with Ethereum, Skale solves the technical problems and improves the performance of any application.
MetisDao (Metis):
Metisdao announced that it is building “the first mixed Rollup in history, combining the optimistic Rollup architecture with zero knowledge proof.” In addition, Metis plans to become the first Layer 2 network to decentralize its sorter, and starts a first -pioneered sorting.The instrument pool eliminates the risk of single -point failure brought by a single sorter.
Cartesi (CTSI):
Cartesi is a Rollup protocol specific to the application. It has a virtual machine running Linux distribution, creating a richer and wider design space for DAPP developers.
Cartesi Rollups provides a modular extension solution that can be deployed as L2, L3 or sovereign RollUps, while maintaining a strong basic layer security guarantee.
2. LSD, RESTAKING
Since the upgrade of Shanghai last year, the concept of liquidity pursuits has become more and more hot, and with the advent of Cancun’s upgrade, this related concept still cannot be ignored.
Lido Finance (LDO):
Lido DAO is a mortgage solution provider for Ethereum 2.0, Terra, Solana and Kusama.Users using Lido mortgaged can maintain their control and liquidity of their mortgage token.LDO is the native currency of the project.
Rocket Pool(RPL):
Rocket Pool is a Ethereum 2.0 pledge pool.The agreement aims to reduce the capital and hardware requirements of the Ethereum 2.0 pledge, and enhance the decentralization and security of Ethereum.To achieve this goal, Rocket POOL allows users to trust pledge to node operators.
Ankr staking(ANKR):
Ankr Earn enables any cryptocurrency investors to earn opportunities for pledge, liquidity pledge and other income.ANKR has created the most scalable and decentralized pledge infrastructure solution, which aims to solve the problem of low capital efficiency of the equity certificate network and similar blockchain consensus mechanism.
Pendle(PENDLE):
PENDLE is an income transaction agreement that divides the assets of income into the principal and income part, allowing users to earn regular or live income.PENDLE is a practical token for liquidity incentives, governance and cost value.
EigenlayerThe
EIGENLAYER is a middleware agreement based on Ethereum. It introduces the concept of re -pledge, so that Ethereum nodes can pledge their pledged ETH or LSD tokens againRights and governance rights.
At the same time, the Ethereum consensus layer utility can be passed on to various types of middleware, data availability layers, and side chains to allow them to enjoy the safety of Ethereum level at a lower cost.
3. Modification
Some opinion believes that the encryption industry will see more and more in the future that Ethereum is becoming a modular blockchain.In other words, Ethereum is increasingly relying on external execution layers and external data availability layers to promote its basic performance.
Celestia(TIA)),:,
Celestia has modularized the technical stack of the blockchain network and decoupled the consensus layer and execution layer. It itself will only undertake the sorting of transaction affairs and data availability verification work.To Celestia’s execution layer network (such as Celo).
Injective (inj):
Injective is a layer of blockchain built using COSMOSSDK, which can achieve safe, fast and interoperable transactions on multiple blockchain networks.Injective is specifically designed to solve the limitations of the popular smart contract platform and optimize the decentralized application (DAPP) in the decentralized financial field.It supports all financial primitives and creates a comprehensive ecosystem to provide various financial products and services.
Manta (Manta):
Manta Network is the gateway of the modular ZK application. It uses a modular blockchain and ZKEVM to establish a new example of the L2 smart contract platform.
Manta Pacific solves the problem of availability through modular infrastructure design, allowing modular DA and ZKEVM seamless integration, thereby continuously enhanced the user experience over time.
Mantle (mnt):
Mantle Network is the first core product for expanding L2 technology stacks of Ethereum.Mantle Network is dedicated to compatibility with Ethereum virtual machines.Mantle Network’s modular architecture separate transaction execution, data availability, and the final nature of transactions into multiple modules. These modules can be upgraded separately and the latest innovation can be adopted.
Dymension:
Dymension is a sovereign Rollup built on COSMOS. It aims to use the development of Dymension Chain, RDK (ROLLAPP Development Tool Pack) and IRC (ROLLUP) to make the development of Rollapp (Rollapp, which focuss on custom applications),Simple.
Summarize
Since the last round of the bull market, Ethereum’s performance can be described as mediocre, but all parties in the market are still very optimistic about it.This year is undoubtedly the most determined stage of the concept of Ethereum in the last round of the cycle. At this time, the relevant concepts of layout have great potential high returns.
The encrypted market has always been more sought after by the new air outlet, so investors can try to pay attention to the newly born Ethereum concept project in this round of this cycle. Maybe it contains the next hundred times.
