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21 June 2021

A New Era of Crypto: Digital Switchover 2.0

A New Era of Crypto: Digital Switchover 2.0

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Stablecoins will certainly play a pivotal role in this space as their inherent stability make them far more suited for such applications.

With 2021 touted as the year of DeFi, we can expect to see even more integration of this technology.

This means both parties have total peace of mind that the other will make good on their promise and, best of all, there are no hefty fees to pay for this security.

This is because the Ethereum network is inherently easier to use and lends itself to creating other types of decentralised applications beyond standard transactions.

It’s hoped that the advent of Ethereum 2.0 will improve the scalability of such applications, with a view to popularising them even further.

With a sharp uptick predicted in DeFi this year, we can also expect newer applications to be more user-friendly than earlier versions that primarily focused on the tech side and neglected the UI/UX aspect.

Despite the crucial role the Ethereum network plays for DeFi, it’s also worth noting that other platforms like Polkadot are similarly well-suited to host DeFi solutions, a trend that may just start to emerge before 2021 is out.

If we compare ETH with BTC, we see that the original cryptocurrency has lost over 40% from recent highs, while Ethereum has only declined a shade over 35%.

With the launch of the Ethereum 2.0 network, DeFi applications will be even more easily scalable, driving demand for the native coin and thus pushing prices up further.

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