Ethereum hit another low this year, alongside with losing 70% of its value in 2018 which was predicted to be THE year for cryptocurrencies, so many are wondering is Ethereum in trouble with the most recent performance.
It seems that investors are losing patience with ETH as they are “leaving the ship” observing Ether plunging against the fiat. However, ETH isn’t the only crypto declining as Bitcoin has dropped from 7,500$ to 6,500$ in the course of several days as a result of the shaky market trends.
Moreover, Vitalik Buterin stated on one occasion that ETH might be going down to the zero value, that way probably scaring away some investors. In the meanwhile and despite the price crisis ETH is going through at the moment, the team has revealed details regarding Ethereum’s roadmap 2.0.
Ethereum Reveals Roadmap 2.0
Ethereum was set to become one of the largest blockchain based projects still taking the spot of the second largest currency in the market.
Starting off three years ago in 2015, ETH introduced smart contracts to the crypto community, becoming one of few revolutionizing blockchain projects, which attracted many developers to the network and brought ETH to its known status.
However, Ethereum soon showed major scalability problems that probably made some individual developers and dev teams leave the platform seeking for a better (more scalable) alternative for making and deploying decentralized applications.
Investors might be also losing patience since Ethereum didn’t get to mass adoption nor did the team solve the problem with scalability now having dozens of currencies that are able to process transactions faster than ETH, which is slowly becoming a problem for the value of this crypto in the market.
Moreover, the team has revealed the new roadmap, volume 2.0, which is set to present some neat solutions for scaling Ethereum platform, so the team points out that they will be using Casper and sharding, which is a scaling mechanism created by Zilliqa (ZIL) to divide the network into smaller portions or cells.
Can the Roadmap 2.0 Help Ethereum in the Market?
Ethereum could definitely see some price improvements in the market with the latest roadmap details published by the team on September 7th as they have presented some great solutions for resolving the problem of scalability.
That is how the team revealed switching to Proof of Stake consensus mechanism, for which Vitalik Buterin stated it definitely beats Proof of Work that Bitcoin and Ethereum, as well as many other cryptos, are using.
Moreover, the team will be using sharding while they stated that Ethereum can easily become a platform for the new economic system, a key piece of transfer of value and a hub for global collaboration with great chances to pull out ETH from the crisis.
At the current moment, ETH is down by 29% for the week while being traded at the price of 219$, which is at the same time the new low for Ethereum in 2018.
Ethereum (ETH) Weekly Chart, CoinMarketCap
Regarding this crisis, the team reminded that investors should be in for long-term gains with Ethereum instead of losing their patience, which seems to be the case as the currency is dropping.
With the upcoming changes described in the roadmap of Ethereum, ETH seems to have a great chance of bouncing back up as the changes are slowly being applied to the system.
Image: artful thinkers
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