Ethereum Validators and Smart Contracts on The Rise, But The Price Rally May Be Ending
Today’s Coin Logic new flash is all about Ethereum. The cryptocurrency news space is covered up with different articles on Ethereum and Davos, so we will stick with what we know, and that is diving into the latest news on what is happening in the world of the largest smart contract blockchain.
The number of Ethereum validators is on the rise
The number of Ethereum validators has surpassed 500,000 ahead of the upcoming Shanghai hard fork. This is a significant increase from the previous hard fork, Berlin, which saw only around 260,000 validators.
A validator is a node that participates in the consensus process of a blockchain network, and the more validators there are, the more decentralized and secure the network is.
The Shanghai hard fork is set to bring several improvements to the Ethereum network, including increased efficiency and reduced costs for developers. Overall, the large increase in validators is a positive sign for the future of Ethereum and its continued growth as a decentralized platform.
Want to know more? Check out the article I read Bitcoin.com
More and more smart contracts are being deployed
According to a report by Alchemy Developer, the deployment of Ethereum smart contracts has seen an increase of 293% in 2022. This indicates a growing trend of individuals and companies recognizing the potential of smart contracts and utilizing them to streamline their business operations. The report highlights the significant growth in the use of smart contracts and the potential for further developments in the future.
Although smart contracts are also being launched daily on other networks like Binance Smart Chain, Avalanche, and Ethereum second layer solutions like Polygon, Ethereum still remains the king of smart contracts despite the expensive gas fees it takes to deploy a contract on the network.
Check out the article we found on Decrypt.co that talks all about it.
Ethereum bears may be putting an end to the latest price rally
Have you been keeping an eye on the price of Ethereum (ETH) lately? It’s been on a pretty solid upward trend, but it looks like the bears (people who think the price will go down) might be getting ready to put a stop to that.
This article from AMBCrypto suggests that there are signs the rally is losing steam, seeing a decrease in buying volume and an increase in selling volume. But you know how the crypto market can be, it’s always hard to tell what’s gonna happen next. So incase you are thinking about betting the house on Ethereum, you might want to wait to see where the price is going to correct to. Because what goes up, must come down. It’s science after all.
Nothing said is financial advice.
This is for educational and recreational purposes only!
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