Ethereum is the second largest cryptocurrency which maintains a strong user base after bitcoin in the marketplace. It has marked an incredible achievement securing a huge rise in its value throughout the year 2021. Ethereum made this year a memorable one for its community with innovative developments and upgrades for its users.
To be more specific, Ethereum gained a huge popularity serving as a blockchain platform for many cryptocurrencies and applications. This special functionality drives many people to create their own assets, applications through a unique concept of smart contracts. Further, Ethereum scored a huge user base for its super safe blockchain platform.
Ethereum’s 2021 Achievements
2021 is to be marked as one of the memorable years for Ethereum and its community. The entire 12 months were buzzing around trending the scope and developments of Ethereum in the marketplace. All the ETH holders are lucky and excited to invest in the valuable asset which will reap more profits in the near future.
Moreover, one of the most significant Ethereum’s London Hardfork upgrades which was launched in June. This great inauguration of the Ethereum community turned out to be the most important key step for its road to success. Some Ethereum Improvement Proposals (EIP) grabbed the attention of many, providing an update of ETH2 which will switch Ethereum over to proof of stake.
In the mid of August, Ethereum burned $100 million in fees since the launch of the London hard fork and the popular EIP-1559. Thus, with the adoption of the EIP-1559, the Ethereum blockchain network has moreover 800 deflationary blocks recorded in its network. In that time, ETH persisted a bullish price outbreak surpassing Bitcoin rising 300% in the market value. It is also proved that ETH investors gained 6x higher profits than BTC holders.
Remarkable Developments
Adding to the history of achievements, Ethereum outperformed a challenging upgrade with the launch of Altair Hard Fork. Ethereum 2.0’s first hard fork, Altair, which holds the specialty of replacing the old proof-of-work Ethereum blockchain with ETH 2.0’s proof-of-stake consensus mechanism. This, “Merge” update will help developers and programmers to enjoy the updated version of Ethereum with low consumption of power reducing up-to 99.9% comparatively.
However, with all its success and victories, Ethereum (ETH) maintained a consistent uptrend exceeding Bitcoin through its high trading volume. Thus, ETH was on the right track of a massive bull run in recent months.
Thus, being in the last month of the year, ETH users are even more curious for one unrevealed secret from the community. Yes, it is the largest ETH contract, the Beacon Chain staking contract which is still silent and locked till now. Even though it was launched in Q4, 2020 it remained locked. More so, the minimum investment on the Beacon contract is 32ETH. Thus, to trigger more eagerness and curiosity, the launch of the special contract is expected to take place in 2022.
