In the ups and downs of 2019, what have Bitcoin and Ethereum experienced? What inspiration does it bring to 2020?

Editor's Note: This article comes fromVernacular Blockchain (ID: hellobtc), Author: A Poplar, reproduced by Odaily with authorization.

Editor's Note: This article comes from

Vernacular Blockchain (ID: hellobtc)

, Author: A Poplar, reproduced by Odaily with authorization.

As the freezing sentiment at the end of 2018 continued to spread, Bitcoin once fell to the bottom of $3,400 in February this year, and Ethereum also returned to the starting point of $80, and the market was almost desperate.

I never thought that there would be thunder on the flat ground. After a dismal start in 2019, with the "three fires" as the main line, we have embarked on a special and magnificent year.

1. First of all, the 1E0 launched by some leading digital asset financial platforms ignited the first fire in 2019, and Xiaoyangchun came suddenly;

2. Secondly, the Internet giant, Facebook, which has 2.7 billion users worldwide, ignited—on June 18, it officially announced the cryptocurrency plan "Libra", which instantly ignited public opinion.

Under the impetus of Libra, on June 23, Bitcoin once again stood at $10,000 after 15 months, and reached the highest point of the year in the middle of the year, once approaching $14,000;

Looking back now, the "three fires" throughout 2019 are like stimulants. When the fundamentals have not actually warmed up, they are vainly stimulating, but they are doomed to be powerless.

But the market is like an iceberg. The part that is visible to the naked eye and exposed to the sea is often less than one-tenth. In 2019, there are many variables. In addition to the ups and downs, it has actually laid the groundwork for 2020.

So, taking Bitcoin and Ethereum, the two leading projects that best represent the development of the industry, as a starting point, reviewing their major events in 2019, what can we smell from them?secondary title

01 Bitcoin breakthroughs continue, hope secretly breeds

1. Those who could not escape the curse

Bitcoin ETFs

Although the Bitcoin ETF failed to break the curse and postponed to become "the most anticipated event in 2020", the statement from the former SEC chairman "We are getting closer to the Bitcoin ETF, but there is still a lot of work to do" also shows that it is true To the "last mile".

two,lightning network2020 may really be the last "next year" for Bitcoin ETFs.

two,

lightning network

the spark visibleIn 2019, the Lightning Network has achieved a lot in both publicity and landing cooperation.The first is the explosion of "Torch Relay", which made an unexpected and excellent advertisement for it. On January 19, 2019, the Lightning Network "Torch Relay" was cold-started on Twitter, starting with 100,000 Satoshi, and a responder who left a message under the post was given to a random responder through the Lightning Network. In this way, each transfer increased by 100,000 Satoshi .Once the idea was launched, it quickly swept the industry through a whirlwind. not only、founder of twitterJack Dorsey, Morgan Creek founder Anthony Pompliano,

Bitcoin Jesus Roger Ver

Zhao Changpeng, a well-known person in the industryBitfinex , LinkedIn co-founder Reid Hoffman, and "Mastering Bitcoin" author Andreas Antonopoulos and other industry celebrities have taken over, and even traditional financial institutions such as Fidelity Digital Assets, a subsidiary of Fidelity Investments, have also participated.

By the end of the "Lightning Torch" transfer, it lasted 79 days, experienced 284 transfers, a total of 273 people participated, spanning 56 countries, and a total of 6.86 bitcoins were traded. Every participant will virtually become a Lightning Network The promotion ambassador has greatly promoted the awareness and popularization of Lightning Network.

Secondly, the landing of Lightning Network also won a key city,

Lightning network deposits and withdrawals are officially supported from December 4th.

Meanwhile, Bitfinex chose to partner with crypto gift card provider Bitrefill. Now measured from the number of nodes, the number of channels, network capacity and other indicators, the Lightning Network has experienced several times of growth in the past year.

With the "Torch Relay" event in 2019 and the beginning of the mainstream platform opened by Bitfinex, the spark of the Lightning Network has gradually become a prairie fire.3. Slow start of Bakkt futures, layout of institutional derivativesThe much-anticipated Bakkt futures was launched on September 23 this year, but it got off to a dismal start, with negligible trading volume, which surprised many people:

But after two months of silence,

Bakkt's "Super Bull Engine" Seems to Be Slowly Starting

, The transaction volume continues to break records: within 24 hours of the opening of Bakkt, 71 bitcoin futures contracts (71 BTC) were traded, and the first nine trading days were also quite deserted, with only 865 contracts changing hands.

At the end of November, Bakkt’s daily trading volume once stood at 4,000 BTC, sweeping away the bleakness when it first opened. On December 18, Bakkt’s daily trading volume once stood at a high of 6,601 BTC. The transaction amount has increased by a hundred times compared to the bottom more than enough.

At the same time, options services of Bakkt and CME are also on the way:

On December 9, options based on Bakkt Bitcoin Monthly Futures (commodity code BTM) and cash-settled Bitcoin Monthly Futures (commodity code BMC) were officially launched;

On December 12, ICE in the United States announced the first regulated bitcoin options transaction between Galaxy Digital Trading and XBTO;

CME also announced the details of the launch of related contracts on January 13, 2020;

More and more derivatives services are continuously building a sound investment infrastructure for encrypted assets, and the entry channels for mainstream investors and institutional funds are quietly improving.

Obtaining financing is capital's recognition of the direction; successful listing is capital's recognition of the industry.

Jianan Zhizhi, who exploded the social circle overnight, ignited a carnival in the blockchain industry, and successfully set a benchmark for the blockchain industry to enter the mainstream capital market.

In addition to the two leading digital asset financial platforms that backdoor Hong Kong stocks, it is expected that a number of industry companies will follow in 2020 and land on the capital market one after another. This will also become a highlight of the industry in 2020.

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02 Ethereum marched hard, DeFi gradually became a moat

2019 is a difficult year for Ethereum. In addition to the highly anticipated key upgrades, ETH has also experienced a "price roller coaster":

Taking the middle of the year as the boundary, ETH first fluctuated upwards from $100.90 in January to a yearly high of $366.80 in June.

1. Repeatedly bounced tickets, the difficult march of Ethereum 2.0

In February, Ethereum carried out the Constantinople upgrade that was postponed many times, and the second part of "Metropolis" was successfully implemented;On December 8, the Istanbul hard fork upgrade of Ethereum was successfully completed, and brought 6 improvement proposals, and the third part of "Metropolis" was successfully implemented;On December 23, Vitalik released a blockbuster new proposal to allow the ETH 1.0 chain to be used as shard 0 to migrate to ETH 2.0 faster;

The Istanbul hard fork is the first of two major network upgrades planned for the next six months that will see

Ethereum is finally heading towards 2.0 DeFi (also known as the quiet phase). From this point of view, after a difficult march in 2019, Ethereum is only one step away from "tranquility".

However, Ethereum 2.0, which seems to be close at hand, still has many difficulties to overcome one by one. According to the current progress, 2020 may be a crucial year for the implementation of ETH2.0. As far as the chasing soldiers are concerned, the time left for them has become less and less.

2. ETH officially established and led

direction

Just when doubts about the public chain were rampant, Ethereum, the leader of the public chain, transformed itself from a "world computer" in 2019 and redefined itself as a "DeFi settlement layer".

At the Devcon 5 Ethereum conference held from October 8th to 11th, ETH2.0, DeFi, and DAO were regarded as the three main directions for the future development of the Ethereum ecosystem, which was unanimously agreed by the participants.

DeFi has become the moat of Ethereum for the next period, and 2019 can be called the DeFi year of Ethereum.public chain3. The development ecology of Ethereum continues to lead and continue to grow

Even if it is complained the most, Ethereum is still well-deserved

public chain

• The first choice for development - In addition to the development of the core protocol, Ethereum has an average of more than 200 active developers developing the total code every month, and the number of developers is unprecedented, maintaining a strong and continuous growth momentum.

• According to Stateofthedapps data, as of December 26, Ethereum is far ahead of other competitors in terms of hard indicators such as the number of DApps, activity, and contract deployment.

In a report released by Electric Capital in mid-2019, it also showed that the developer community of Ethereum was four times larger than the ecosystem of any other cryptocurrency project. At the same time, the corresponding developer activities are also constantly moving:

Conducted 8 virtual hackathons in 2019 and awarded over $200,000 in grants; DAO In a nutshell, in 2019, Ethereum struggled to realize the beautiful vision described by 2.0 through network upgrades, and DeFi also introduced hundreds of millions of dollars of value into the Ethereum ecosystem.

With DeFi and

With the growth of other fields, the Ethereum developer community continues to expand. Although every step is very difficult, it has survived the darkest moment.

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03 Summary

For investors who were desperate in 2018 and eager to find comfort in the market, 2019 is undoubtedly just an unsatisfactory year. But if we carefully sort out the memorabilia of 2019, we will find that many grass snake gray lines have actually been buried secretly.