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Bitcoin, Metaverse, Ethereum: What will 2022 bring?

 


If only half as much happens in the Bitcoin space in 2022 as last year, crypto fans can expect a lot. We took a close look at five areas that will become important in 2022.

Will Ethereum make the leap to Proof of Stake? Will other countries follow El Salvador and make Bitcoin a means of payment? What does the future look like in the Metaverse? We dare to look into the crystal ball.


Ethereum: will the leap to Proof of Stake be successful?

Nothing new for Ethereum fans: The development team for the second largest cryptocurrency after Bitcoin is planning to switch from the energy-hungry (and climate-damaging) proof-of-work process to proof of stake. This should not only make transactions cheaper, but also enable the cryptocurrency to be staked. In addition, the energy consumption is drastically reduced. But the way there doesn't seem to be the easiest.

With three major upgrades last year, the development team has already set the course. With the postponement of the Difficulty Bomb in December, the transition to Ethereum 2.0 also took place. postponed for a few months. But if you already know that you want to be among the network validators as a staker: in right from the start, you can join in: The beacon chain already allows you to deposit ether for staking.

If the network manages to make the transition to Proof of Stake, that could mean a big leap. Because with that, the chances are good that Ethereum will move away from the ever closer competition. For investors, it's definitely worth a closer look.

Bitcoin to the rescue: crypto as a lifeline for crisis states?

El Salvador took the big leap in 2021 . As the first country in the world, the country in Central America dared to accept Bitcoin as an official means of payment. From now on, the cryptocurrency should share the status of the national currency with the US dollar. The not undisputed President Nayib Bukele is making a risky bet. After all, he filled the (rather empty) treasury with a cryptocurrency known for its high volatility. The coming year will show whether his bet will work. Should the Bitcoin rate continue to gallop with the bulls and Bukele sell his coins again, that would certainly do the treasury good.


Then the chances are good that other states will follow the example of El Salvador. Bitcoin and other cryptocurrencies are already used as unofficial means of payment, especially in economically troubled countries such as Argentina or Venezuela. Should El Salvador show that it can also be good for states themselves to accept and own Bitcoin, the chances are good that other states will follow suit. That, in turn, would send an enormously positive signal to investors around the world and could result in a bull run that keeps rocking up.

But there is also the possibility that Bukele's shot backfires. Should the Bitcoin exchange rate suffer major slumps, this could damage the treasury of El Salvador significantly. Provided that the country sells the Bitcoin stocks at such a moment, for example because the US dollar stocks are running out and you are under pressure to act. That, in turn, could damage the image of Bitcoin investments.

Whatever the outcome: The coming year will be exciting for El Salvador.

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