Ethereum Continues to Grow with the Majority of Stablecoin Projects Leveraging its Network

As Ethereum (ETH) edges closer to its all-time high (ATH) price of $2,000, the second-largest cryptocurrency based on market capitalization is continuously experiencing growth on its network. ETH has been up by 17.75% in the past week to trade at $1,792

Some of the algorithmic experiments that have been taking place entail perfecting Ethereum 2.0, which was launched in December last year. It seeks to transition from the current proof-of-work consensus mechanism to a proof-of-stake one, which is dubbed more environmentally friendly.

Moreover, Ethereum’s Berlin hard fork, which is an upgrade to the present Ethereum 1.0 mainnet, is anticipated to go live in mid-April. The Berlin upgrade is expected to be deployed on Ropstein, Goerli, and Rinkeby testnets before making its way onto the mainnet. With the Berlin upgrade, four Ethereum Improvement Protocols (EIPs) will be implemented.

George Georgiev All articles this author

For example, an insurance company could use smart contracts to automate the release of claim money based on events such as large-scale floods

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