In 2017, HoldEthereum became the world’s first intelligent HODL test contract, a decentralized app that only had one job: freezing ETH submitted by users until Ethereum’s fifth birthday. It was that day yesterday. This means that these people can now withdraw their ETH stored in this “intelligent contract”. This was announced by the platform through a statement.
Three years ago, people voluntarily started blocking their funds, which meant that these people started to trust the Ethereum ecosystem. In 2017 and the following year, the entry of more than USD 100,000 into the ETH was registered in the time capsule of HodlEthereum. This smart contract was created by LocalCryptos.
Since launch on July 30, 2015, Ethereum is the second largest cryptocurrency by market cap after Bitcoin. Since its inception, this crypto activity has made steady progress and earned the respect of the entire market.
Steps to withdraw ETH
This questionable publication has now established the instructions that people must follow to withdraw from ETH.
The notice indicates that the user must “call” the “party” function using the address from which he sent his ETH. You can do this via the Etherscan interface, which is connected to your preferred web3 wallet (e.g. MetaMask).
In the statement, they gave the address of Ethereum. You also need to open the Contract tab and write the contract in Etherscan.
You must also connect your Ethereum wallet using the Connect to Web3 button and then click the Write button. As soon as the transaction is confirmed, meet with your ETH.
Ethereum celebrates its fifth anniversary
The popular blockchain platform and the second capitalization coin on the market, This Thursday, July 30th, Ethereum has reached its fifth market year and is on the way to its next update.
Ethereum is also a project that always cooks. It is determined to innovate constantly. This is shown by the decentralized financial revolution (DeFi), the latest advance that has once again sparked interest in this cryptocurrency. The breakthrough of this new kind of financial understanding could keep the entire traditional bank structure in check.
The birth of the Ethereum
While Ethereum’s open test network, which is known as Olympic, was launched in May 2015 and was later released in July, Frontier, version 1.0 of the blockchain, the idea for the project came up a few years earlier. The first Ethereum white paper was published in 2013 by Russian-Canadian programmer Vitalik Buterin when he was 19 years old.
The development of Ethereum was funded from July to August 2014 through an initial offering of cryptocurrencies (ICO). Participants paid the Ether (ETH) token with Bitcoin (BTC), and a total of $ 18 million was raised. This joint sale would allow him to officially start developing the platform, which in its first version would start on July 30, 2015.
Towards Ethereum 2.0
Between late 2019 and early 2020, Ethereum began the final phase of its development to make way for the PoS called Ethereum 2.0 or Serenity. The expected update includes a number of improvements that focus primarily on solving scalability issues, slow transaction speeds, and increasing operating fees.
One of the challenges Ethereum faces when it comes to updating will be the speed of the transactions. While it’s much faster for Bitcoin, the 15 transactions per second that Ethereum can process lags behind compared to the 60,000 transactions per second for Visa and Mastercard.
An important improvement will be fragmentation, in which data processing is split across multiple nodes so that many more parallel transactions can be performed at the same time. This will help speed up the processing time for transactions, information and currency storage. In addition, developers can use ETH 2.0 to code in several languages.
Although there have been some delays with the first launch plans, ETH 2.0 is making good progress. The final test network is expected to start on August 4, while the main network may be ready to start in November 2020. (Although some developers of Ethereum have warned that it won’t launch until January 2021.)
The price for the Ethereum continues to grow
In the meantime, the price of the market-leading altcoin continues to rise while acceptance continues to rise. As Cointelegraph reported, on the anniversary of Ethereum, its price continues to rise near USD 350 and has risen 50% in the past month With two main catalysts that are driving the upward trend, such as the DeFi sector and the upcoming upgrade to ETH 2.0.
The price has risen from $ 225.5 to $ 347 at the time of writing, and its launch in the past hours by more than three percentage points coincided with the expiry of 260,000 ETH options for the last day of this month in July 2020 Cryptanalysis company Skew has checked it on its official Twitter account.
260,000 ether options expire tomorrow pic.twitter.com/GV8cQNul2H
– skew (@skewdotcom) July 30, 2020
In general, despite its delay in launching Ethereum 2.0, the price of Ethereum has far exceeded our expectations since our analysis on July 3 managed to break the psychological barrier of $ 300 and now take a look at immediate resistance from USD 350.