Future prospects of Ethereum 2.0 and Filecoin

Recently, many friends have asked about Filecoin and Ethereum 2.0.

I remember that in the article at the end of last year, I once said that there are three hot spots in the currency circle this year: Bitcoin halving, Filecoin online and Ethereum 2.0.

The reason why they are the three hotspots is that they represent the catalyst for the next round of bull market and the future of blockchain applications respectively.

Among them, the halving of Bitcoin has always been given an important condition for the catalyst of the bull market;

Filecoin represents a rare application scenario in the blockchain application field that can be implemented and immediately realize commercial value - decentralized storage. It is also the most powerful project in terms of technology and ecology among all current decentralized storage projects;

Ethereum 2.0 integrates the culmination of blockchain technology, representing the direction and future of blockchain development.

Because this epidemic has affected the effect that the hot spot of Bitcoin halving should have brought. The outbreak of the epidemic directly affects investor sentiment and confidence in the market.

Although the Federal Reserve and other central banks in the world have implemented large-scale releases of water, and may continue to release more water in the future, and some of these funds will eventually flow into the digital currency market, at the moment, investors are lacking in the market. Confidence, so I am cautious and conservative about the future.

The development status of Filecoin so far can be said to be mixed:

What is worrying is that due to the impact of the new crown epidemic, Chinese miners, who occupy a monopoly position on miners, were unable to resume work in February, which affected the testing of the test network. The launch date is July and August this year.

The good news is that the project party has solved a series of major problems recently, and the project is progressing smoothly. Therefore, if there are no major surprises, it is still very possible that the project will go online in July and August. However, even if the project can be launched according to the latest plan, it is unknown how the price of the coin will perform. But the value of the project itself is still beyond doubt.

Ethereum has encountered two major accidents this year: one was MakerDAO suffered a huge loss due to a market crash, and the other was a decentralized financial application that was hacked and caused tens of millions of dollars in losses.

Although these two accidents are not directly related to Ethereum, they have affected the most popular ecology of Ethereum - Decentralized Finance (DeFi). It fully exposes the security problems of DeFi itself and the impact of the insufficient performance of Ethereum on the ecology of Ethereum.

These two accidents, especially the attack on DeFi, are almost a replica of the attack on "The DAO" in 2016. The DAO attack caused the development of decentralized autonomous organizations to be hit hard and fell into a trough; and these two accidents will also deal a heavy blow to the development of DeFi.

I think that the application and development of DeFi may also decline in the next two years. Because these two accidents made the industry realize that in order to create a perfect DeFi application, there are many hidden problems and risks that cannot be solved by the current technology.

Due to the outbreak of these two accidents, Ethereum 2.0, which was originally concerned by the industry, has become unpopular, but in fact, the progress of Ethereum 2.0 has been relatively smooth so far.

According to the plan, Ethereum will launch the beacon chain this year. So far, the test network of the beacon chain has been launched, each client is being tested, and the interoperability between each client is also being tested. Basically, the progress of the beacon chain is being carried out intensively and according to the plan. Judging from the current progress, no major problems have been found in the various tests of the test network, which is undoubtedly good news. As for the launch event of the Beacon Chain mainnet, the Ethereum team has not officially released it yet.

Will the launch of the Beacon Chain mainnet affect the price of Ethereum? I think the resulting optimism may have a small boost to the currency price, but this effect will not be too great, because the beacon chain is only a starting point for the entire Ethereum 2.0 system, and there are many more to follow. major challenge.