The director of global macroeconomics of the investment fund Fidelity, Jurrien Timmer, spoke about the performance that Ethereum has registered during the season. She referred to this as a boost which is helping ETH gain ground against the leading cryptocurrency, Bitcoin.
A growth spurt
Considering the rise that cryptocurrencies have registered in the last year, Timmer made his opinion known regarding the valuation of ETH. He believes that this cryptocurrency has had a somewhat undervalued growth, taking into account the benefits it offers.
He commented that Ethereum had a faster start than Bitcoin itself, while the latter continued to gain users.
Jurrien Timmer expresses that the main altcoin in the crypto world registered a considerable rise due to the sectors that emanate from it. The Ethereum blockchain has been useful for the development of projects such as decentralized finance and now non-fungible tokens (NFT).
In the last season, ETH has outperformed the pioneering cryptocurrency in the gains arena, by around 260%. Both digital art and interconnected ecosystem initiatives, their influence in the crypto market is supported.
In addition to this, Bitcoin loses ground at a time when environmental damage from high energy consumption in mining is taken into account. However, Jurrien Timmer clarifies that although there is the accelerated growth of Ethereum, Bitcoin continues to weigh on the market.
The evolution of the landscape
With current performance in mind, Timmer looks forward to seeing what market fluctuations will be like next year. He is waiting for what will happen with the flippening effect between the 2 most influential cryptos.
Faced with this scenario, he mentioned that the progress of ups and downs would be something “interesting to see”. However, doubts related to the monetary policies handled by the platform are still present. This, after the market assimilated the implementation of the EIP-1599 update.
While Ethereum is advancing to an extreme with accelerated growth, Bitcoin is showing prevalence with more investors entering the crypto sector. This scenario is achieved when BTC is recognized as a supporting asset, which acts as a deflationary value due to its limited number of coins.
ConsenSys collaborated with Mastercard to support Ethereum scalability with rollups!
In a recent announcement, crypto software development firm ConsenSys revealed that it has collaborated with payment processor Mastercard. This event took shape in order to provide a new solution based on the rollups to provide greater scalability and security of the ecosystem.
The new solution presented
One of the firms most immersed in the development of Ethereum software consolidated an advance in terms of the optimization of the ecosystem. Faced with the rollup initiative , a system has been presented that would contribute to the scalability of the blockchain.
In this sense, ConsenSys collaborated with the payment processor Mastercard to provide a solution to the load of the network. Based on the ZK-Rollups, the company shows the public your product ConsenSys Rollup , which aims to help to optimize data processing.
To this end, the company was in cooperation with engineers Mastercard, company has become more involved in criptomonedas during the last season.
With scalability in mind, this project seeks to create a more scalable and “private” environment, considering the security aspect. This product can be used both in Ethereum as well as in the internal network of ConsenSys, Quorum.
In this way, the presented solution will rely on the advantages of authentication tests with little shared data. This structure would allow transactions to be more secure and lighten network traffic.
According to the data provided by the company, up to 10,000 transaction operations can be carried out every second on private chains. In relation to this, the firm’s global director of protocol engineering, Madeline Murray, spoke about its potential.
He clarified that this system will give way to «much greater» scalability, taking into account the importance of privacy. «This innovative solution will help accelerate the construction of the future of finance,» he added.
While ConsenSys worked with MasterCard to launch the rollup, ethereum is struggling to maintain its performance. This is due to overloading existing in blockchain.
After all, the network reached its limit, a fact which generates high expenses in terms of gas rates.
With the development of the presented solution, the company seeks to offer the crypto community products that facilitate market growth. Among other details, ConsenSys wants to employ the system for various use cases, such as micro transactions, scalability for decentralized exchanges, among others.