Bitcoin

Upcoming major events in the blockchain ecosystem by the end of 2020

Another year that ends with important and positive news for the crypto space, with Bitcoin hit the year’s highs again as the protagonist, next breaking its all-time historical price.

But still, The crypto space isn’t just bitcoin and its impact on the rest of the ecosystem due to its rise (or fall) in prices. Around this large “satellite” there are other interesting projects that orbit in perfect harmony and increasingly banding together to bring blockchain technology to mass adoption.

But as with any technological project, imperfection is the order of the day. Hence, it is always important to update or improve your networks to achieve the scalability required for takeover.

Upcoming major events in the blockchain ecosystem by the end of 2020
Upcoming major events in the blockchain ecosystem by the end of 2020

Let’s take a look at the next major events in the blockchain ecosystem later in 2020 and who the protagonists are. Knowledge or not, may be relevant to what is called fundamental analysis for many traders.

1.- Ethereum 2.0

The long-awaited big event of the year is of course nothing more than the improvement or implementation of the Ethereum 2.0 protocol, which is expected to be activated in the first days of December 2020.

The entry into the scene of the Genesis block of ETH 2.0 for the next December 1st of this year is an event that is already causing a stir in the entire blockchain ecosystem. due to the expectations that the algorithm improvement in the network of the main altcoin in the market could change.

Currently, 238,624 ETH are blocked in the ETH 2.0 deposit contract in order to activate this improvement. This equates to 45.5% of the total amount viewed on Twitter by this user.

The price of the second largest cryptocurrency in the market by market cap is around $ 531 per unit at the time of this writing.

The deposit agreement is the first step towards the introduction of ETH 2.0, with which the algorithm changes from PoW to PoS (Beacon chain). Then the shards would be the next major protocol update to follow Chain of lights.

2. Stellar protocol 15

On November 23rd at 1600 UTC, inspectors will vote to update Stellar’s public network to what is known as Protocol 15According to information published in his official report a few days ago.

After skipping the planned Protocol 14 update in late October 2020, that planned upgrade to Stellar’s public network is the same as the canceled version, except “it fixes an issue that may have caused the reviewers to fail”. according to the official blog.

Protocol 15 introduces a new general ledger entry called Eligible Balance that can be used to break a payment into two separate parts: create a balance and request a balance.

With this improvement, it is possible to accept deposits from users outside the Stellar network and instantly create an equivalent balance that the user can collect in their own time, eliminating the complicated exchanges between wallets and external anchors, which is great for financial transactions is useful. institutional relates.

In addition, the new protocol introduces a new operation called “Sponsored Bookings” that allows one account to sponsor the Lumen bookings of another without giving up control of the underlying funds.

The proposals, which are expected to be implemented in the main Stellar network from November 23, This could mean a giant leap in the adoption of the blockchain platform on a financial level, one of the main goals of the network proposed by Jed McCaleb and the company.

Lumen (XLM) is currently trading at $ 0.1024, with a week of double-digit growth of nearly 24 percent amid the bullish arena of the major altcoins in the market.

3.- Ethereum Classic Hard Fork

On November 28th, roughly in block 11,700,000, the hard fork called the Ethereum Classic (ETC) network THANK YOU.

By commissioning this upgrade, the DAG is expected to be halved, so that both 3 GB and 4 GB mining hardware (GPUs) can carry out the respective mining over a longer period of time in the ETC network.

The intent of this tough fork is to attract as many miners as possible to a network that has been controversial this year due to its recent security vulnerabilities and loss of funds, resulting in a loss of confidence necessary to secure their transactions.

The improvement comes under the ECIP-1099 form, better known as EPOCH calibration, a fundamental parameter in using hardware for GPU mining on which the ETC network guarantee is based.

4.- Blockstack starts Mainnet

On December 15th, the team behind Blockcstack is expected to finish the essential code for starting its main network or main network. scheduled for next January 14th next year, as seen in a notice on his official blog.

To celebrate this milestone, the blockchain platform’s eponymous foundation placed one million STX tokens for a mining challenge organized by Daemon Technologies.

The challenge will help potential miners learn about the final system and celebrate their key role in enabling the user’s own internet on Bitcoin, as seen in the note.

Blockstacks is an open source network for building decentralized applications and smart contracts that inherits the security of Bitcoin through proof of transmission.

The chain is expected to be able to bring applications and smart contracts to Bitcoin with its mainnet called Stacks 2.0, much like the RSK pair.

5.- Kira Network

The network, which aims to empower the DeFi ecosystem by providing access to markets for digital assets regardless of their type (cryptocurrencies, fiat or NFTs), is expected to begin late this quarter or early next year.

According to the development team and the roadmap originally set, Kira Network should complete the connection with the Polkadot ecosystem by December this year, which will allow its users to transfer assets between different chains such as Polkadot, Cosmos, Ethereum or Bitcoin. At the same time, you get liquid passive income from “staking” assets in both the real world and the crypto world.

Currently for November 25th, the platform has announced its public liquidity auction in its second phase to enable the launch of its main network with a liquid and tangible support for trading its native token on the open market.

KIRA’s liquid staking mechanism is fundamentally different from all currently known implementations and supports any type of asset instead of a single token or a limited number of tokens.

6.- Loopring protocol 3.6

By the end of next December, the entry in the scene of protocol 3.6 of the loopring platform is the first update since the implementation of zkRollup.

This new protocol aims to position Loopring as a Layer 2 solution over Ethereum to help thousands of users address issues with scalability and transaction fees, especially over DeFi Layer 1 protocols.

Loopring is a scalable protocol for secure payments and exchanges on Ethereum that uses the zkRollup method and supports scalable transactions and transfers.

7.- NEM Mainnet

According to a tweet by Dave Hodgson on Aug. 16 The NEM development team expects its mainnet to start on December 17th.

The detailed plan provides for the NEM symbol network to be implemented by the last month of the year for which the integration of the opt-in technology has started since September of this year. An improvement introduced by the team for moving from XEM tokens to XYM.

The snapshot is expected to be taken between December 3rd and 16th of all wallets with XEM tokens in order to receive their respective XYM tokens in the same ratio as planned by the development team.

But stillIt should be noted that the roadmap on the NEM NIS1 official site includes a different date for the inclusion of Symbol indicating next January 14th as the scheduled date.

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