Web3 and The Ethereum Merge

Web3 and The Ethereum Merge

Life is what happens while you are waiting. This Bear Market is demanding great patience from investors and traders, not only in the crypto market, but also in traditional finance. But it is in these periods where the future is built. 

When Jeff Bezos was asked if he is worried about this quarter’s results, he replied that this half year’s results depend on what he did last year.

So you have to take advantage of this moment because next year’s results depend on it.

ETH is taking the opportunity to make its merge, a change from PoW to PoS, what in networks they call ETH 2.0. This is not a minor change. ETH is the largest computer ever created. And this change is like changing its graphics card, making it more powerful, faster, more secure. And that’s no small thing.

It’s an analogy, but quite literal. Look at how the price of ENVIDIA GPUs has changed. The price has dropped 73% because ETH miners are no longer going to need as much power.

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And while the results of all major companies fall, in the crypto sector we are still building, we continue with 4 million monthly downloads of the “ethers” package (which developers use for web 3 and to create dApps). Not bad.

In other networks, the ones that are not ETH, 2.4 million downloads per month. It seems that there is also life while we are still waiting.

I remember a phrase of José Mújica, former president of Paraguay who spent 12 years in prison, who said something like, you have to try to make the time in prison count.

Don’t lose this time, create value, make it valuable and learn. And that time of reflection must have served him well, because he later became one of the best presidents in the history of Paraguay and an international reference for his simplicity and honesty.

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And this time between peaks of crypto euphoria, counts. 

  • There are 7.5 million transactions on the Ethereum network every week.
  • The $33 billion that Venture Capital stuck in 2021 in startups in the crypto sector are working. Their return is not calculated for 2022, their roadmaps go to 2025, at the earliest. Everything is yet to be exploited.

Web3 will be used to create tremendously useful financial products in the next decade. 

And while all this is happening in the crypto sector, if we look out the window we see a not very hopeful world: inflation, recession, energy prices, supply crisis,… and the feeling that we have learned little or nothing.

But while it is slowly cooking, as it usually happens, the daily silent work will reach a point where it will explode and it will seem that everything is accelerating. Those who do not see it now, or do not understand it, will be surprised. 

That’s why, while the time has not come, I have decided to make this time count and I am taking advantage of it to educate myself, and read, and to meet more Defi and Blockchain professionals. It’s time to grow, to evolve.

This time counts.

Yours in crypto

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