Embrace Ethereum, Experience the Internet of Money

Edit: Southwind

Edit: Southwind

Born to connect computer systems around the world, the Internet revolutionized communication systems. Granted, the Internet has opened up a wealth of opportunities for people to interact with their computing devices, regardless of geographic location. in providing a hugecommunication abilityAt the same time, the Internet also provides us with acollaboration medium。

but the internet iscurrency value transferDoes it need improvement? Internet giants are clearly making a lot of money, but is it easy to transfer money online? The checkout process at the time of transaction is often difficult, you need to enter your bank/credit card details and there is no guarantee that your local card will be accepted worldwide. Transaction failures happen from time to time, and your confidential financial information may be leaked at any time, bringing you nightmares.

Let's talk about more complex transactions, such as peer-to-peer transactions without intermediaries. The Internet is really scary in this regard. Think about transferring ownership of your artwork or real estate online! You may encounter a lot of trouble and have to complete the relevant paperwork to comply with local laws, and you may eventually find that it is more convenient to choose a physical process than an online process.

The Internet has evolved over time. Web2's success comes from user-generated content and an interactive culture. While the Web2 wave has not died down, we are already starting to see a paradigm shift in Internet applications:The Web3 movement seems more disruptive, because it is leading us to a trustless, censorship-resistant, and open web.blockchain technologyblockchain technology. Bitcoin is the first peer-to-peer permissionless digital currency, but before the birth of Ethereum, it was not possible to transfer value on the chain through smart contracts. This is indeed a new concept.

Vitalik Buterin published the Ethereum white paper in 2013, and Ethereum aims to enable users to build their own applications on it. Launched in 2015 after a successful crowdfunding, the Ethereum blockchain quickly became the second largest cryptocurrency by market capitalization.In 2017, ICOs(Initial Coin Offering)upsurgeSweeping the Ethereum network, Ethereum has become the preferred financing method. But the ICO boom didn’t last long due to various scams and startup failures.

But Ethereum developers continue to innovate various financial applications. DeFi (Decentralized Finance) originated from the Ethereum blockchain, and various DeFi applications have locked billions of dollars in value and shocked the world with amazing growth. The growth of prediction markets such as Augur, Omen, and Poly Market has also set off a media storm.Today, all traditional financial concepts are replicated in a decentralized manner on the Ethereum blockchain.

NFT crazeNFT craze! NFTs are gaining staggering investor attention due to their verifiable authenticity and blockchain-based ownership. Collectors love the concept of verifiable scarcity, and the NFT market is taking off like a rocket.

Whatever you do on the Ethereum blockchain, you spend Ether (ETH), Ethereum’s native cryptocurrency, so ETH becomes your “currency”.Stocks, real estate, precious metals, fiat currencies, and anything in the world is tokenized on the Ethereum blockchain. Commonly referred to as the "world computer", Ethereum has maintained its innovation and imagination. Now, in its extensiveBacked by the L2 ecosystem and other EVM (Ethereum Virtual Machine) compatible blockchains, Ethereum has proven to be a battle-tested value settlement medium. Everything is built around Ethereum.

“It’s clear to me now that Ethereum is the new currency of the internet. It’s far ahead of Paypal at the time, and it’s more exciting for users than Paypal.

——Gil Penchina, former CEO of Wikia and ex-eBay executive

A network effect is when an increase in the number of participants increases the value of a good or service. The Internet is a great example of network effects. Initially, the Internet was used by only a few users, but as more and more users used it, its coverage slowly expanded. Ethereum’s network effects thrive in a similar fashion. The development, refinement and continued new use cases of Ethereum have attracted more users to connect, transact and settle value on the chain.

The game has just begun! Ethereum solves the transnational problem of electronic money. As a "global settlement layer", Ethereum has already settled financial values ​​across borders without friction, which means it is subversive internationally. Although ETH's price volatility and high Gas fees are still challenges, in the long run, thisstore of valueShould become stable, positive network effects will help make this happen. Embrace Ethereum and experience the Internet of Money.