Recently, ETH has risen rapidly. In less than a month, the price approached $300, more than three times the December low of $82.
On May 22nd, the Ethereum Foundation released the spring report of 2019. The report mentions that in the next 12 months, the Foundation plans to invest 30 million US dollars for key projects in the entire Ethereum ecosystem, regardless of whether the ETH price rises or falls, this budget will not be affected.
Obviously, the rise of ETH is inseparable from the efforts of Ethereum to build an ecosystem. At the same time, many large companies have become partners of Ethereum. These two important factors have laid the future of Ethereum and determined that ETH may break out at any time.
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Although Bitcoin has some very exciting second-tier payment technologies, the core technology has not changed much. In particular, any changes to the Bitcoin Core Group will be deployed with great care after the Bitcoin cash upgrade is interrupted.
In contrast, Ethereum is constantly improving, splitting and developing. Its smart contracts and digital applications are still in a relatively early stage, and hundreds of companies are actively developing on this platform.
According to CoinDesk, the Ethereum Foundation supported a total of 90 different projects in 2018, donating up to $27 million. Among them, the 23 largest donations were used to focus on the expansion of the Ethereum project.
On May 22nd, the Ethereum Foundation released the spring report of 2019. It is revealed that the Foundation currently holds about 0.6% of the total amount of ETH, about 640,000 ETHs, and the legal currency is about $160 million. In addition, the Ethereum Foundation has also allocated some cash reserves.
And in the next 12 months, the Foundation plans to invest $30 million in key projects across the Ethereum ecosystem. The $19 million budget is planned to support "ETH 2.0" development, $8 million to support "ETH 1.0" development, and $3 million for talent introduction and incentives.
$19 million is used to support Ethereum 2.0 development. The Ethereum Foundation pointed out that as a highly regarded technology project, the development of Ethereum requires a lot of resources. In particular, major projects such as Ethereum 2.0 and the encouragement of the academic community to participate in Ethereum development require special resources.
In addition to over half of the budget to develop Ethereum 2.0, the Ethereum Foundation also spent $8 million to maintain the existing Ethereum network. The Ethereum Foundation believes that Ethereum is the bottom line of hundreds of DApps and involves billions of dollars in digital assets. It is very important to maintain the current Ethereum network.
Regarding the project's support standards, the Foundation said: “It doesn't matter whether the project is 'internal' or 'external'. It is important that we effectively invest resources to achieve the goals that Ethereum will accomplish.”
The Ethereum Foundation uses $3 million in the budget to support engineering and developers, including maintaining developer relationships and educating and educating developers. The Foundation also emphasized that developer input is more important in Asia because Ethereum has significant development opportunities in Asia.
In addition, the $3 million budget will cover marketing expenses for technology crowds and Ethereum DApp users. The Ethereum Foundation believes that it is also helpful to raise public awareness of Ethereum.
More than that, it is important that we see more and more international companies starting to develop their own blockchain applications based on the Ethereum platform.
On May 7, Microsoft released a set of tools that allow users to build Ethereum-based applications on their cloud computing platform, Azure. The founder of Microsoft BuildAzure announced in a blog that the new Azure blockchain development kit for Ethereum will help developers create and deploy Ethereum-based applications in the Azure blockchain service or on the blockchain.
Microsoft explained on its GitHub: "The Azure blockchain service is a hosted Ethereum service that you can deploy and interact with, and integrate it into other Azure-based services such as Azure Flow, logical applications. Program or storage services, such as SQL Server or Cosmos DB. "Windows 10 and macOS support this extension and can run in Azure virtual machines.
Last month, Microsoft and the Enterprise Ethereum Alliance jointly launched a token building toolkit to help companies design and create cryptocurrency tokens tailored to their specific needs. It also launched the “authoritative proof” Ethereum consensus on Azure, replacing the common proof of work mining process in the public blockchain.
And JP Morgan Chase, Starbucks, Nintendo, Sony and other companies became the first customers of the Microsoft Azure cloud platform. JPMorgan Chase created Quorum, which is equivalent to the enterprise version of Ethereum. And will use the Microsoft cloud service Azure to promote Quorum. The cooperation with Microsoft will be a springboard for Quorum to be independent from JPMorgan Chase. Starbucks will use Microsoft's Azure blockchain service to track the coffee production process. It is reported that the system will allow customers to track their coffee production process and will provide potential financial opportunities for back-end coffee growers. The cooperation between Sony and Microsoft is not to jointly develop a new game platform, but Sony hopes to use Microsoft's advanced Azure cloud computing technology to develop games. It is rumored that Nintendo also plans to cooperate with Microsoft on Azure cloud computing services.
There are also rumors that the Samsung Blockchain Working Group is building a blockchain main network based on Ethereum. However, this work is still in the “internal experiment” stage. It is understood that Samsung is considering the private chain model, but has not confirmed that the future will not rule out the mixed mode of private chain and public chain. In addition, there are news that Samsung may launch a token called "Samsung Coin" when the development of this blockchain is completed.
Just recently, the French power company (EDF) , the world's fifth-largest power company with a market value of $33 billion , is working with the Ethereum application iExec on a new test. The company has launched its visual simulator software GPUSPH on iExec. With this feature, EDF can test how programs run in blockchains rather than in more normal computing environments.
Bosch (Bosch), the world's largest auto parts manufacturer, is testing a car charging station project based on the Ethereum blockchain, which provides a new vision for charging electric vehicles.
Bosch said: The blockchain-based charging station solution is designed to make the entire charging process more responsive to customer needs, so customers can choose, schedule and pay for charging services that match their needs. All transactions, reservations, and payments are fully automated on the blockchain, and the service will be able to take into account the various preferences of the customer. In addition, the strength of the Ethereum blockchain has been validated by Siemens' research projects in Bosch's Reinen and Munich parks. Bosch's project is exciting, which makes the blockchain and the Internet of Things a step forward.
In addition, there are organizations and alliances that support and expand the Ethereum community . The Ethereum Enterprise Alliance (EEA), established in 2017, has grown from only 30 founding members to more than 500 members after two years of development. The alliance is committed to integrating blockchain technology and corporate institutions. These startups, companies, foundations and organizations all come together to contribute to and benefit from the continued development of the Ethereum ecosystem.
The underlying technology of Ethereum has penetrated into the giant enterprise, and it continues to develop and flourish. As for other performance and scalability, it can be completely solved by other chains, and the stability of the underlying protocol is maintained like Bitcoin. Sex can be, the underlying application has been expanded, has been far ahead of the competition!
Recently, more and more traditional financial giants have expressed interest in the cryptocurrency market. Brian Kelly, chief executive of BKCM, an encryption investment company, expects this trend to continue and the “community” will enter the market in the first half of 2019.
A survey conducted by Fidelity’s Digital Assets Department confirmed this claim. The purpose of the survey was to understand the views of pensions, family offices, hedge funds, endowments and foundations on the possession of cryptocurrencies. The survey found that 47% of institutional investors believe that digital assets are worth investing, and the same proportion of institutional investors expressed appreciation for the innovation of encryption technology. Equally important, 46% of respondents like the low correlation between cryptocurrencies and other asset classes.
Therefore, in terms of the configuration of digital assets, in addition to BTC, ETH will be the best choice.
Bitcoin supporter Mike Novogratz has strongly supported Ethereum. During the Ethereal Summit, the founder of the Galaxy Digital Group said that Ethereum should consider Bitcoin a valuable storage.
Last year, Ethereum co-founder Joseph Lubin put $500,000 in the future of Ethereum DApp.
In a recent interview, Lubin also said he believes that after a series of upgrades related to Ethereum 2.0 are activated, the scalability of the Ethereum platform will increase by about 1000 times in the next 18 to 24 months.
It can be seen that the future of Ethereum may break out at any time! Not to be underestimated!
Source | Chain Reference
Author | Internal Reference
Produced | Blockchain Base Camp (blockchain_camp)