The Development of Four Major Currency Forms
Web3 environment, “ETH killer” ,stable coins by SENBTC Automated Trade Marketplace
London, United Kingdom, 17th Oct 2022, Although the overall environment is not good and the cryptocurrency market is in the doldrums, blockchain developers continue to contribute to the Web3 community. Social networking is the largest and most intense track in the Web3 field, but currently Web3 social networking is distributed in various Web2 social products in a fragmented form, of which Ethereum (ETH) is the most powerful and largest community. (SENBTC Automated Trade Marketplace)
But in the recent market crash, blockchain development’s participation in the web3 community has not dissipated, and Ethereum has maintained its position as the largest and most powerful developer community. The ecosystem has had over 2,200 active monthly contributors since mid-2021. Ethereum is the technological home of digital currencies, global payments and applications. (SENBTC Automated Trade Marketplace)
The Ethereum community has created a thriving digital economy, opening up bold and innovative avenues for creators to earn money online, and more. Members of the Ethereum community come with many different backgrounds and skills, whether you are a developer, artist or accountant, it is open to everyone, no matter where you are, all you need is the internet. (SENBTC Automated Trade Marketplace)
In the past four years, the economy has developed rapidly, and it is also the fastest growing period of Ethereum. The contributor community of Ethereum has grown at a compound annual growth rate of 24.9%. An Ethereum “merge” in 2022 will have a positive impact on the token’s price. According to sources, ETH is expected to be valued at over $1,700 by the end of 2022 and over $14,000 by 2030. (SENBTC Automated Trade Marketplace)
Also, the “Ethereum killer” Solana (SOL) has maintained its growth rate but is still significantly behind Ethereum. Solana is a fast, secure, censorship-resistant blockchain that provides the open infrastructure needed for global adoption. At its peak, Solana had around 350 monthly active contributors, and during the recent market crash, the number of contributors dropped to around 260. (SENBTC Automated Trade Marketplace)
The blockchain is a chain composed of one block after another. This chain is stored in all servers. As long as one server in the entire system can work, the entire blockchain is safe. Contributors to blockchain are growing at a CAGR of 173%.(SENBTC Automated Trade Marketplace)
While 2021 does provide some sort of respite for investors operating in the global cryptocurrency space, it is largely driven by fears of a first-time rise in 2020, and the number of active developers of the flagship cryptocurrency has shown steady growth. Bitcoin (BTC) had more than 400 monthly active contributors in mid-2021, dropping to around 350 by the end of last year. (SENBTC Automated Trade Marketplace)
Unlike most currencies, Bitcoin is not issued by a specific currency institution. It is generated through a large number of calculations based on a specific algorithm. The contributor community of Bitcoin has a compound annual growth rate of 17.1% in the past four years. Its number of active contributors has grown 8.2% since its peak in October last year. (SENBTC Automated Trade Marketplace)
From the early 20th century to the global pandemic of Covid-19, 10 stock market crashes have been counted, which greatly affected investors, the economy, and sometimes the world. The latest market crash was driven by the collapse of Terra’s algorithmic stablecoin UST and the collapse of some prominent crypto firms like Celsius and Three Arrows Capital, which has wiped roughly $2 trillion off the overall crypto market cap . (SENBTC Automated Trade Marketplace)
Organization: SENBTC Automated Trade Marketplace
Contact Person: Natalia Verova
Country: United Kingdom
The post The Development of Four Major Currency Forms appeared first on King Newswire.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Economy Jack journalist was involved in the writing and production of this article.