Bitcoin and Ethereum have seen significant gains this week. Thus, the price of bitcoin broke above $ 30,000 for the first time since June last year, and finally the price of ethereum broke above $ 2,000 per ether again. Industry observers assume that Ethereum’s long-awaited Shanghai update is currently driving prices.
Ethereum needs to get fees back under control
According to Ethereum co-founder Vitalik Buterin, the Ethereum network should now aim to quickly fix its scaling problems. This could start another crypto bull run. However, according to Forbes, Buterin warned, “If we don’t fix the scaling before the next bull market, people will have to pay $500 in transaction fees.” ETH legend is mainly focusing on the expected updates of the system called Shapella – a combination of Shanghai and Capella.
The background of the warning is the release of many ETH tokens. The Ethereum blockchain currently has just over $2 billion awaiting payout after surpassing $3 billion on Friday. Experts are now worried that a rush for withdrawals could enter the market, which could weigh down the price of Ethereum. So far, however, nothing can be seen of this. The price of Ethereum is up more than 10% this week, surpassing $2,000 per ether for the first time since last summer.
However, the danger remains that if Ethereum does not resolve its scaling issues before the next bull run, an increase in chain traffic could lead to an increase in transaction fees for users. That wouldn’t be anything new. Ethereum fee explosions have made headlines in the past.
Shapella’s update closes an important circle of the new PoS algorithm, but it will now need to get the payments under control for full integration. About a year ago, Ethereum’s middle-of-the-road switch from a more energy-intensive proof-of-work to proof-of-work ensured that instead of mining the blockchain, there were validators, who can automatically send their Ethereum to the system to generate. reach back. Thanks to this week’s Shanghai update, those who had already pledged Ethereum to the blockchain can finally withdraw.
Ecoterra takes over 1 million USDT
In the shadow of the big cryptocurrencies, however, a small coin is planning to make its own presale a success. As the development team from Ecoterra has now announced, more than a million USDT have already been accepted as part of the presale.
This project also wants to devote itself to the topic of sustainability. The developers are completely focused on recycling. With a specially developed application, every user should be rewarded if he or she actively recycles. But end customers and consumers are not only addressed, but also companies. These should also be rewarded through the ecosystem and benefit from a certain marketing effect.
Each user of the app gets their own profile that expresses the sustainable “impact” in numbers. Companies should enable their customers to pay in their own PET voucher to enable more recycling. The application is quite simple. A barcode scanner can be found within the Ecoterra app. This can be used to scan products sent for recycling. These include plastic packaging, glass bottles or cans. Every scan earns Ecoterra tokens.
In addition, you should be able to scan your own consumer bills, for example the electricity bill. If this is based on sustainable forms of energy, you can also earn fast money.
The corporations should also benefit from the data attached to each transaction. This may include recycling habits, but also product selection and other valuable information about the respective user. In addition, a so-called content market on the blockchain ensures that business users can network with each other using the app. For example, you should be able to buy raw materials based on recycled materials here.
The advance booking prices are constantly increasing
It should even be possible to enter special product requirements here. Payment can also be made here using the PET cryptocurrency, but also with Fiat currencies. In addition to this practical application, another market should appeal to consumers. Anyone looking to reduce their own CO₂ footprint should be able to reduce their own CO₂ footprint this way. Both end users and corporations should be able to buy CO₂ capacity, the prices of which are then used for sustainable projects, such as planting trees to reduce carbon dioxide in the atmosphere.
Users then receive their own QR code with which they can share their profile at any time. Certain achievements can even be unlocked as NFTs.
The Ecoterra token can be purchased on the official website with Ethereum, USDT or Fiat currencies. Those who want to jump on board during the pre-sale should keep in mind that it is divided into different stages. With each new step, the pre-sale price increases. The coins can currently be purchased at a price of 0.0055 USDT. The plan is then to list the token at a value of 0.01 USDT. In theory, this results in significant profit potential. In practice, of course, it should be pointed out that after the first listing, the selling pressure is enormous and prices will drop quickly. There is still some risk in Ecoterra’s forecast.
Cryptocurrency with potential 2023
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