Ethereum Nears Its 5-Year Anniversary With Focus On DeFi

In 2015, the Ethereum cryptocurrency was created. Five years later, we can see that the ETH news brings a lot of surprises. The future of the blockchain is now defined by DeFi and USDT, and as Ethereum nears its 5-year anniversary, many industry experts believe that DeFi and USDT will bring a solid change.

In more detail, some experts claimed that Tether (USDT) and decentralized finance (DeFi) tokens will play large roles in the future of Ethereum as this blockchain approaches its five year anniversary on July 30.

A statement shared with media outlets by Paolo Ardoino who is the chief technology officer (CTO) at Bitfinex and Tether shows that the Ethereum blockchain will “play a central role in the digital asset ecosystem in the years ahead” as the “Ethereum-based Tether can continue to support and empower growing ventures and innovation in the blockchain space.”

Ardoino also touched on the fact that Ethereum nears its 5-year anniversary and said:

“We hope that the recent surge of DeFi can translate to more DeFi financing products and projects that will truly shape industry developments in a decentralized manner. USDT is among the biggest and fastest-growing stablecoins in DeFi and we will ensure that Tether continues to play an important role in supporting this alternative financial system and remains the reserve currency of DeFi.”

Currently, Tether (USDT) has a major share among the ETH-based stablecoins and the most tokens being on the blockchain. USDT also remains one of the major users of gas on Ethereum, which is a trend that may be irrelevant in the future as other blockchains migrate to the network – just like the recent $300 million transfer of USDT from Tron.

Still, the Tether news now shows that USDT is a major stablecoin and a step forward for the Ethereum blockchain. All of this comes on the heels of the launch of Ethereum 2.
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0 which is a phase that will bring plenty of positive updates to the network.

One of the people who commented on the ETH 2.0 launch was Kosala Hemachandra, who is the CEO and founder of MyEtherWallet.
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He said that the ETH 2.0 update would “change the definition of blockchain technology by creating a secure and sustainable system capable of competing with centralized scaling solutions.”