The cryptocurrency has also suffered some changes since last year. The Ethereum price chart shows a particular constant in the cryptocurrency, which made it more stabilized. The prices are going in a good direction as the ultimate development of the entire blockchain attracts more investors. And as we know how blended the community is, we’re expecting that more upgrades are coming this year to improve the network even more.

Here’s what you should expect from Ethereum in 2023.

Sharding

Sharding is one of the most important features of a blockchain because it helps ensure more scalability, given the current challenge of Ethereum’s scalability methods. The process of sharding is characterized by splitting databases to spread the load of data. This process is essential to reduce network congestion and increase the number of transactions processed per second. At the same time, sharding will help lower transaction fees.

The sharding project is expected to be shipped this year, but it might take some time to be completely installed. However, it became a priority to be delivered as soon as possible after Ethereum moved to proof-of-stake last year.

The main features of sharding include the following:

• Anyone can do node running. Sharding will allow validators to use provided data techniques to confirm data availability. The results are reduced costs of data storing and fewer hardware requirements for mining;
• Network participation increases. After the sharding update, people will be able to run Ethereum on a regular laptop or even mobile phone, which will increase security as the network gets more decentralized;

Shanghai

The Shanghai update is scheduled for the second half of 2023, and it’s the second significant Ethereum change since the Merge. The project aims to introduce more critical, updated and elemental modifications to the blockchain and its EMV functionalities. The upgrade is expected to:

• Reduce gas fees for layer-2 solutions on Ethereum, such as Polygon. As these systems are improved, transactions on the blockchain will be faster and cheaper;
• Allow validators to withdraw or unstake tokens. Currently, potential validators need to stake a certain amount of ETH in a smart deposit contract, but this will change after Shanghai;
• Update smart contracts and their facilities to make Ethereum as developed as possible;

Will the Shanghai update affect the ETH price?

Normally, these updates affect the cryptocurrency’s price in some way or another. Although it’s not 100% sure, the implementation of Shanghai may contribute to price changes. For example, given that a considerable part of all eligible ETH tokens has been staked, the liquidity is expected to flood back into the market and affect the overall price.

At the same time, ETH could become more attractive to investors as the market’s liquidity improves. In this case, more investors will have the chance to stake ETH with Ethereum even if they didn’t stake liquid protocols.

EOF

The EVM Object Format (EOF) is yet another expected 2023 update that will change Ethereum’s code execution environment so that the cryptocurrency platform will be more efficient and the process of creating smart contracts will be improved. EOF will be set to focus more on the EVM Ethereum ecosystem.

EVM (Ethereum’s Virtual Machine) was designed to operate continuously to determine the state of every block on Ethereum’s blockchain. The special state machine governs whether nodes can do the distributed ledger and defines specific rules to regain the changing form of the blocks. This is also what facilitates Ethereum’s smart contract functionality.

The benefits of the EVM include the following:

• Developers can execute the codes with no further negative impact on the network;
• Developers can run complex smart contracts on different computing ecosystems with distributed consensus;
• The EVM is the preferred platform for Web3 development as it’s compatible with multiple layer-2 blockchains;

However, the EVM also has some drawbacks that will be addressed, such as the high transaction fees and gas costs related to running smart contracts. At the same time, given that Ethereum uses Solidity as the programming language, developers need to have solid system knowledge and possess enough technical expertise to handle smart contracts.

What does the future hold for Ethereum

Besides the updates expected in 2023, Ethereum is most likely to become one of the most potent multi-tool blockchains and dominate the market. The blockchain key features of decentralized finance and decentralized autonomous organization boost Ethereum’s popularity as they’re introduced in various industries, such as retail, healthcare and education.

If Ethereum becomes more accessible to regular customers, it will revolutionize businesses. That’s because they’ll be able to scale their processes better, store more data securely and efficiently as well as work inside one of the best-decentralized networks. At the same time, cryptocurrency is paving the road to becoming a worldwide facility because it can be used as an investment, a payment method, settling smart contract agreements and paying associated transaction and gas fees.

Some experts say that Ethereum is shaping the blockchain industry. Although Bitcoin is the first cryptocurrency ever created and is used more often than ether, Ethereum’s blockchain provides more tools and knowledge that allow investors and developers a decentralized space for their transactions and applications to be fairly exchanged. Overall, Ethereum is an excellent option for anyone who wants to invest or create apps and applications on a decentralized network.

Bottom line

Ethereum is the second-largest and most famous cryptocurrency ever. It was based on Bitcoin’s white paper and had similar features. However, the creator of Ethereum, Vitalik Buterin, had a different vision of what people could do with Ethereum. Therefore, the applications and support provided on Ethereum made the blockchain highly used and praised, which is why now so many updates are to change the platform and make it faster, cheaper and more scalable than ever.

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Bitcoin

• Bitcoin is the first and most well-known cryptocurrency. It was created in 2009 and has since grown to become the largest cryptocurrency by market capitalization.

• Bitcoin is decentralized and uses blockchain technology to ensure the security and transparency of transactions.

• Transactions are relatively fast, with most being processed within 10 minutes.

• The cryptocurrency is widely used in the industry of on-line gambling, as many casinos and betting sites now accepting Bitcoin as a form of payment.

• Its stock is confined to 21 million coins, making it a scarce digital asset.

Ethereum

• Ethereum is the second-largest cryptocurrency by market capitalization and was created in 2015.

• Like Bitcoin, Ethereum is decentralized and uses blockchain technology for secure and transparent transactions.

• Ethereum transactions are faster than Bitcoin, with most being processed within 15 seconds.

• Ethereum has a larger supply than Bitcoin, with a total supply of 100 million coins.

• Ethereum is also widely accepted in the online gambling industry, and many online casinos and sports betting sites now accept Ethereum as a form of payment.

Which One to Choose for Online Gambling?

Both Bitcoin and Ethereum are widely accepted in the online gambling industry and have their own unique set of advantages and disadvantages. However, there are a few key differences to consider when choosing between the two for online gambling:

Transaction speed: Ethereum transactions are faster than Bitcoin transactions, which means that you’ll be able to deposit and withdraw funds from your online gambling account more quickly.

Supply: Bitcoin has a limited supply of 21 million coins, while Ethereum has a larger supply of 100 million coins. This may be a consideration for those who are looking to hold onto their cryptocurrency for a longer period of time.

Volatility: Both Bitcoin and Ethereum are known for their volatility, but Bitcoin tends to be more volatile than Ethereum.

The decision of whether to choose Bitcoin or Ethereum for online gambling is ultimately a personal one. Before deciding, think about your preferences and what you are looking for in a cryptocurrency. Personally, I was looking for the best option to play monero dice. It is also important to note that some online casinos or sports betting sites may not support either Bitcoin or Ethereum, so be sure to check the deposit and withdrawal options before signing up.

In conclusion, both Bitcoin and Ethereum are widely used in the online gambling industry, but they have their own unique set of advantages and disadvantages. While Bitcoin is known for its limited supply and high volatility, Ethereum is known for its higher transaction speed and greater supply. Before making a decision, think about your preferences and what you are looking for in a cryptocurrency, and check the deposit and withdrawal options of the online gambling site you are interested in.

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But first, let’s discuss the basics — how the two work and what the future of those cryptocurrencies looks like.

What’s Next for Litecoin?

By its nature, Litecoin (LTC) is a Bitcoin fork, a wanna-be Bitcoin so to say. What makes it attractive is a considerably shorter time of transaction and lower price for transaction processing. Litecoin’s all-time high was at $375 in December 2017. As of April 2021, Litecoin stands at $250-260 and continues to decrease in value.

But what are the prospects for Litecoin’s future? According to statistics and predictions made by PrimeXBT.com, Litecoin is going to soar to $600+ in 2021 and $2,000 in 2022-2023. Yet, it is then going to plummet and most likely complete the whole cycle hitting approximately $200 again. This means that if you have previously invested in Litecoin, you can sell it in 2021 to make a quick profit or hold the coin for the long-term as there is a high probability it will continue rising in price.

Why Ethereum Is a Better Choice

There are a bunch of alternatives you can choose from when exchanging your Litecoins. One of the best options is Ethereum (ETH). Ethereum has a better potential since it’s not just a cryptocurrency — it performs a role of an ecosystem and a platform for creating decentralized apps and smart contracting.

Here is a brief comparison of Litecoin and Ethereum. It will help you understand their main differences.

If we talk about the future, Ethereum is likely to progress. It’s due to the fact that over 200 people are constantly working on its improvement. The new Ethereum 2.0 upgrade is coming. It will introduce new key features such as:

• Staking – moving from proof-of-work to proof-of-stake (it will make Ethereum transactions faster and more energy-efficient)
• Sharding – division into separate parts that will be operating simultaneously (it will radically enhance productivity)

The upgrade will drastically change the current crypto industry. One thing is for sure — you don’t want to miss the opportunity to get it before the upgrade.

For this reason, we truly believe that today can be a good time to invest in Ethereum. And to help you save your time and money, we did our research and found the perfect platform — Godex.

Start Exchanging With Godex Today

Godex is a perfect website for beginners. With services provided by Godex, you will be able to exchange your Litecoins or 200 other digital coins in a matter of 5-30 minutes. Furthermore, Godex cares about their clients, that is why exchanging cryptocurrency on Godex won’t require you to register or comply with any KYC requirements.

You can always use Godex as a calculator. For example, you can use LTC to ETH exchange calculator to track current exchange rates for free. And when you feel like it’s the right moment to exchange, all you have to do is to follow a few simple steps in order to exchange your Litecoin tokens:

• Type the amount of Litecoin you want to exchange in the “You send” field and click “Exchange”.
• Fill in the “Destination address” field by entering your wallet address below.
• Make sure that the information you entered is correct and press the “Exchange” button once again.
• Wait for your deposit (Godex will automatically create an Ethereum deposit address for you).
• After the transaction is done, you will be able to check out more detailed results on the “Completed” page.

Godex will find the best rates on the market and provide you with top transaction speed. Godex provides absolute anonymity and unmatched efficiency in comparison to other exchange platforms. Its simple design and easy-to-use interface won’t leave you feeling puzzled. The platform is also planning on launching an app for Android or Apple devices.

With Godex’s friendly customer support service, you will never be left on your own with your issues. Top-notch crypto specialists are ready to answer all your inquiries at request. All you have to do is to go to the “Contact” page and share your issue.

Final Thoughts

Despite a 10-year presence on the market, Litecoin has failed to evolve, and it’s most likely doomed to live in the shadow of its bigger brother, Bitcoin. On the other hand, Ethereum represents a work in progress. Being much cheaper than Bitcoin, Ethereum holds second place in terms of value on the cryptocurrency market.

Ethereum has a greater potential to evolve in the future due to its blockchain structure. Remember, it’s not the strongest ones that survive in our hectic world — it’s the ones that are more willing to adapt.

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