2021 saw Bitcoin scale to unfathomable highs while also seeing real lows. Here's a deep dive into how the year went for the flagship crypto.
Hard Fork News
During a hard fork, blockchain networks split into two different chains. A cryptocurrency hard fork results in two blockchains, in addition to two separate assets: the original and the forked asset. Cryptocurrency hard forks can be a benign, consensual upgrade spearheaded by the community, or the culmination of bitter debates that split a community into two separate chains and assets.
Multiple notable contentious hard forks have occurred over the years. In 2016, as the result of a hard fork, Ethereum (ETH) split in two, resulting in Ethereum and Ethereum Classic (ETC). And in 2017, due to another hard fork, Bitcoin (BTC) split into Bitcoin and Bitcoin Cash (BCH). Developers may cooperatively implement hard forks based on consensus from multiple parties. Communities may choose to hard fork cryptocurrency for a number of reasons, such as improving network speed.
Ethereum’s burgeoning use cases have driven a surge in Ether’s value in 2021, but what does the future hold for ETH?6889
But ETH2 is not a new cryptocurrency and the exchange appears to be prepping for Ethereum's transition to proof-of-stake.44864
Focus is now “exclusively on The Merge,” says Ethereum community manager as the deadline for the next stage of the transition to Eth2 grows closer.58165
The upgrade promises to deliver negative carbon output across the platform.13136
Ethereum’s transition to proof-of-stake continues, with the first mainnet upgrade of Beacon Chain scheduled for late October.42196
After the market “sells the news” after the successful Cardano Alonzo hard fork, there is a slow realization that real utility could still be on the distant horizon for the network.25843
One third-party explorer puts the number of time-locked Cardano smart contracts over 2,000.103664
Cardano has completed its Alonzo hard fork to introduce Plutus-powered smart contract scripts.78159
Ethereum’s London hard fork went live on Sunday. The transition has important implications for mining pools, which have begun deploying miner extractable value solutions to increase revenues.3537
POLY, BCHA and XYO led altcoins higher after BTC flipped $50,000 to support and ETH hit $4,000.18041
The bearish outlook appears also as Cardano’s daily RSI reflects overbought sentiments. However, the euphoria surrounding Cardano’s smart contracts launch and its mild correlation with Bitcoin are keeping the upside hopes intact.50309
The ADA/USD exchange rate has moved further into its “overbought” area, suggesting that a trend correction might follow suit.103114
The London hard fork comes with five EIPs. Most importantly, EIP-1559 impacts transaction fees and miner revenue, but how significant is it?7220
The London hard fork sets Ethereum up for a new era as ETH price continues to make gains alongside a positive community reaction.16678