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4 Reasons NOT to worry about the Ethereum Price + ETH TA UPDATE

Ethereum will be updated, assures ...

There will be an upgrade for Ethereum, says ConsenSys founder Joe Lubin
CONTENT

  • Blockchain startup ConsenSys announced the establishment of a new organization Mesh

  • Under the new brand, ConsenSys will exercise control over its blockchain startups

  • Joseph Lubin is confident that the launch of Ethereum 2.0 is just around the corner

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Blockchain startup ConsenSys creates Mesh to better control its sprawling software development business.

Ethereum will be updated, assures ...

Mesh is a brand that will unite ConsenSys blockchain startups engaged in software development, including BlockFi, Trustology, Compound Labs, etc. Their number has already exceeded a hundred and requires a new level of organization.

ConsenSys founder Joseph Lubin explained on Twitter that Mesh will continue to develop the company’s core mission of “promoting the use of decentralized protocols, infrastructure and applications.” It is this idea that motivates and inspires Lyubin from the very beginning of work on the Ethereum protocol..

The DeFi Market Dilemma

Lubin noted that the Mesh project will focus on open source technology, while developers will be building Web 3.0, as well as decentralized infrastructure and applications. The Ethereum blockchain already serves as the main platform for projects in the decentralized finance segment (DeFiDecentralized finance (DeFi) is financial services built on the blockchain technology that offer users access to an open, efficient and … More), including such well-known protocols as decentralized exchange Uniswap. On the one hand, such popularity pleases the creators of Ethereum, but on the other hand, it creates many problems that require urgent solutions..

Ethereum will be updated, assures ...

For example, amid the DeFi fever, the ether rate has resumed its growth after a sharp decline during the crypto winter. But along with the cost of the cryptocurrency, gas has also risen in price – coins that users pay to confirm transactions. The cost of gas has reached record heights, forcing some projects to switch to other blockchains, change the terms of interaction with users, or completely curtail activities.

Thus, the Publish0x project, which calls itself the cryptocurrency version of Medium, switched from weekly payments to monthly payments, citing excessively high gas charges. And the UniLogin service, which simplifies access to Ethereum applications, announced its closure at all, unable to cope with high fees.

Ethereum 2.0 on the way

Not surprisingly, community members are eagerly awaiting Ethereum 2.0, hoping that the update will solve the scaling problem in the popular blockchain. According to the latest data, the zero phase of Eth2 is planned for the current year. Joe Lubin assured his Twitter followers that Eth2 will definitely take place and there is no doubt about it.

iTrust Capital, an IRA trading platform for cryptocurrencies and gold, stands in solidarity with the co-founder of Ethereum, as she announced on her Twitter..

The transition to Ethereum 2.0 is a laborious and complicated process, so many community members still doubt that it will take place at all. However, ConsenSys considers the launch of a new version of the protocol only a matter of time..

Ethereum will be updated, assures ...

 

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