Ethereum 2.0 Upgrade is Reshaping and Decentralizing the Global Financial System

Currently, Ethereum is leading the decentralized finance (DeFi) revolution, holding over 95% of the market share. However, the network’s existing structural limitations created the need for a major upgrade in 2021.

This upgrade, called Ethereum 2.0, aims to make the network more secure, cheaper to use, and capable of handling thousands of transactions per second.

Introducing Ethereum and Ethereum 2.0

Launched in 2015, Ethereum is an open-source software platform incorporating decentralized applications (dapps) and smart contracts. Ethereum is the most actively used blockchain in the world and the second most valuable in terms of market value (after Bitcoin). These are some key Ethereum numbers:

• Hundreds of thousands of users and tens of thousands of developers (about 3,000 dapps are built on Ethereum)

• Leading the revolutionary Decentralized Finance (Defi) with a market share of over 95%

• Over 25 billion USD is currently locked in Ethereum’s DeFi -Check here the Total Value Locked in DeFi

The native cryptocurrency of the platform is Ether (ETH). Ether works as the transactional token for the operation of smart contracts and dApps.

Read more: Ethereum 2.0 Upgrade -How ETH is Revolutionizing the Financial System

Explaining BitMex Perpetual Contracts and Crypto Funding Rate

A Perpetual Contract trades like a Futures Contract, but never settles and never expires.

What is a Bitmex Perpetual Contract? 

Bitmex Perpetual Contracts are derivatives similar to traditional Futures Contracts. They allow crypto traders to speculate on both upward and downward price movements of a cryptocurrency. Compared to standard Futures Contracts, they have the following differences:

• Perpetual Contracts don’t expire (there is no daily settlement)
• The price of a Perpetual Contract trades significantly closer to the underlying Index Price compared to a similar Futures Contract
• The primary price-spotting mechanism of a Perpetual is Funding. This mechanism allows the perpetual contract to be priced very close to the price of the spot market (explained briefly below)

Read more: BitMex Perpetual Contracts and Crypto Funding Rate

₿ Bitcoin Tutorial for Starters -How to Trade Bitcoin? 

Created in 2008 by Satoshi Nakamoto, Bitcoin is the first and most widely used digital currency in the world. You can trade Bitcoin through a ETF or buy it directly from a Bitcoin exchange (details provided at the end).

But first, here is some basic information about the Bitcoin currency.

• Limited Supply: The total number of Bitcoins is capped at 21 million, introducing built-in scarcity similar to gold.
• Decentralization: Bitcoin operates without a central authority, supported by a distributed network of computers (known as "nodes") around the world.
• Pseudonymity: Bitcoin transactions are tied to encrypted wallet addresses rather than personal identities, offering a degree of privacy.
• Security: Transactions are protected through cryptographic methods and validated by miners using a proof-of-work system.
• Market Volatility: Bitcoin’s market price is highly volatile, which contributes to its reputation as a highly speculative investment.

ℹ️ General Information About Bitcoin

What are the Benefits of Holding Bitcoin?

Bitcoin is an open-source, decentralized currency that allows internet users to shop online or send money globally. It doesn’t require a credit card or bank account and can be bought, stored, or sold entirely electronically.

Here are some of the advantages Bitcoin offers:

→ Not controlled by any Central bank

→ Limited to 21 Million Coins {with about 90% already mined}

Read more: How to Trade Bitcoin