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Review 2020: the hottest cryptocurrency and blockchain projects

Time : 26/02/2022 Author : 98s0kj Click : + -
        In 2020, the cryptocurrency and blockchain industry achieved rapid development. The two main assets, bitcoin (BTC) and Ethereum (ETH), rose 303% and 469% respectively. Compared with the 25% return of gold, this can be considered extraordinary. Although gold is usually regarded as a safe haven asset, these two digital assets perform better than gold in the uncertain market caused by the pandemic. Thestie is an encryption company based on social media analysis. Its co-founder and CEO joshuafrank told cointegraph: "among the 100 assets with the highest market capitalization, the average tweet volume of these cryptocurrencies increased by 87%, while the tweet volume of bitcoin soared by 95%.
        ”。 Frank added that although the current rise was driven by institutional interest, the interest of retail investors also seemed to be rising. All this will eventually lead to increased interest in Shanzhai coins: "it is worth paying attention to which medium-sized assets continue to surge in social activities, because this is usually a good leading indicator of price changes.". In the context of the rapid rise in prices, the focus on cryptocurrencies has surged, and many companies, projects and cryptocurrencies have gained momentum in 2020. There is no doubt that bitcoin is the most mentioned encryption asset in 2020, and the number of mentions on twitter increased by 95% year-on-year. The price of bitcoin rose from about $7000 to an astonishing record high of nearly $35800.
        Bitcoin received widespread attention from mainstream media in 2020. Gray, MicroStrategy, square and MassMutual bitcoin have made a lot of investments, and even corporate giants such as PayPal and JPMorgan Chase have begun to invest in bitcoin to take advantage of the opportunities offered by bitcoin. Johntodaro, research director of tradeblock (an institutional trading tool that provides digital currency), told cointegraph:. "Institutions began to pour into the encryption ecosystem for the first time, and MicroStrategy, square, MassMutual and others took the lead in entering the encryption market.
        So far, all these major institutions have only configured bitcoin, because bitcoin may be the most powerful digital currency in terms of anti inflation. ". MicroStrategy CEO michaelsaylor even recently suggested on twitter that billionaire elonmusk convert Tesla's balance sheet from dollars to bitcoin. The bull market of bitcoin in 2020 will continue into the new year, and it is expected to continue for some time. Considering that this is the beginning of the interest of mainstream and institutional bitcoin, 2021 will be a more important year for all encrypted assets and blockchain technologies.
        Although JPMorgan Chase said that bitcoin has been overbought, it will continue to withdraw funds from gold investors; However, Goldman Sachs said the two assets could coexist. Todaro added, "you may also see more companies follow the footsteps of MicroStrategy and invest a small part of their asset reserves in bitcoin, which bodes well for bitcoin's erosion of gold market share.". Ethereum is a blockchain network that runs smart contracts and supports the largest counterfeit eth. The main use case of Ethereum network is to realize value exchange without the intervention of a third party. Ethereum network was conceived by developer vitalikbuterin in 2013 to expand the use case of bitcoin technology, and was officially launched on the main network in 2015.
        Compared with bitcoin, ETH has no hard upper limit and may be supplied indefinitely. Ethereum has shown promising improvements throughout 2020. At the beginning of 2021, the surge in eth prices almost coincided with the continued record high of bitcoin, which showed that the enthusiasm of the encryption community had a positive impact. In addition to being a digital currency, ETH also acts as a gas fee for decentralized applications running on the Ethereum network. The two milestones of Ethereum in 2020 are the rise of decentralized Finance (DFI) and the launch of Ethereum 2.0 beacon chain. The defi market achieved huge growth in 2020, with the total value of lock-in increased from $687 million at the beginning of the year to $14billion at the end of the year, and further soared to $18billion on January 4, 2020.
        This growth is usually attributed to liquidity mining, yieldarming, expectations for Ethereum 2.0 and the rise of the defi oracle. From the continuous growth of the total value (TVL) locked in the defi project in the second half of 2020, it can be seen that TVL should continue to grow in 2021, and more defi use cases will be generated through various dapps. Todaro further commented on the importance of Ethereum to the defi Market:. "When it comes to DFI, we have to talk about Ethereum. Because most of the DFI projects are based on Ethereum, when the transaction volume soars, Ethereum has become the lifeblood of the ecosystem (the surge in gas costs during the summer of 2020 during the DFI bull market is a proof).
        ”。 According to the total value of locking, one of the top players in the defi domain in 2020 is the decentralized exchange (DEX) uniswap. DEX is a way to trade cryptocurrencies without the support of central management agencies. Uniswap's token exchange uses a liquidity pool guided by a Oracle rather than an order book. Uniswap even airdropped its own token uni to its users as a controversial response to the sushiswap vampire mining attack. Uniswap's token tweets grew the fastest, reaching about 1500 per day. According to the data of defipulse, the competition between uniswap and sushiswap seems to be beneficial to both sides, because the total value of locking in these two agreements accounts for $4billion of the total $18.63 billion locked in.
        As the regulation of centralized exchanges may be tightened, as market participants hope to maintain their trading capacity in unmanaged exchanges, the number of new users of DEX will further increase. In 2020, chainlink became the most widely used Oracle network in smart contracts, which allows blockchains to obtain real-world data in a timely manner. Chainlink community is an open source community composed of data providers, node operators, smart contract developers, researchers and security auditors. Chainlink community has its own token link, which is a cryptocurrency used by the network to pay for various operations involving data.
        According to frank, the number of mentions of link2020 on twitter increased by 260% year-on-year. Chainlink announced the establishment of partnership with huge entities such as blockchain based service networks supported by Google and China. Tezos, a competitor of Ethereum blockchain, used chainlink to provide real-time data for its community projects. Since Oracle provides real-time data for smart contracts, the field of Oracle will further expand in 2021, and chainlink will compete for market dominance with its competitors (such as bandprotocol and compound).
        Circle operates the stable currency usdc. Usdc is the second largest stable currency linked to the US dollar. It is the fastest-growing stable currency in 2020. Its market value increased from $500million at the beginning of the year to $4billion at the beginning of 2021, an increase of several times. Circle even cooperated with the U.S. government on Venezuela's "global foreign policy goals", using the usdc to distribute relief funds to medical workers and Venezuelan locals. Given the recent concerns of federal regulators in the United States, the stable currency may only be the first real conflict point between the crypto community and regulators. They may soon be regulated by what is now called the stability act, which aims to "protect consumers from the risks posed by emerging digital payment tools, such as Facebook's libra[diem] and other stability currencies.
        ”。 The presidential financial market working group even issued a statement on the key regulatory issues of "certain stable currencies". Todaro commented on the possible impact of increased regulatory attention on the stable currency: "the stable currency may be subject to more regulation in 2021. It is difficult to see what will happen, but the usdc may become more centralized than at present, and may have a closer relationship with banks, rather than a decentralized consortium.". Although 2020 is an extraordinary year for cryptocurrency, the growth of the encryption industry in 2021 has greater potential. The Chicago Mercantile Exchange will launch its Ethereum futures in February, which will further promote the development of the market.
        Frank further believes that Twitter indicators show that people are more interested in cryptocurrency in 2021: "Twitter is more interested in the first week of the online year." He continued: "today, Ethereum's Twitter volume hit a record high (twice the record set in 2018), while two days ago, bitcoin and the entire cryptocurrency market both set a record high in twitter volume, surpassing the record set in 2017.". As a blockchain news information platform, the information provided by cointegration Chinese only represents the author's personal views, has nothing to do with the position of cointegration Chinese platform, and does not constitute any investment and financial advice.
        If you need to reprint, please contact the relevant Chinese staff of cointegraph.
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