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What is Ethereum's growth going to look like in 2022?



Ethereum is currently on the verge of losing its stance on being the DeFi boss because of its network infrastructure. However, work has been in progress. The question now is, "will Ethereum be able to meet up with several Ethereum killers on the loose waiting to take its place?" Ethereum is a second-generation cryptocurrency that runs on the Proof-of-work consensus, a mechanism that might be responsible for the network's downfall if not properly managed. Ethereum has been working on transitioning into ETH 2.0 for a while, and there have been some minor setbacks. However, it is expected to complete the transitioning this year before tokens like Solana, Cardano, and Luna begin to take their place in the DeFi ecosystem.

Most projects in the DeFi community are such that they are under the Ethereum network, meaning Ethereum has about 80% dominance on the Ethereum DeFi ecosystem. Although, it's beginning to look unsafe for the Ethereum network. Remember that DeFi is one of the most successful ecosystems in the crypto community, and Ethereum happens to be one of the reasons behind this record. So, how will Ethereum perform this 2022? Will it be able to complete its update? Will it be keeping its dominance? What trend will be its insurance? Currently, more than five solid projects with great fundamentals are potential Ethereum killers. These projects are excellently well, with most of them already making a stance in DeFi, thanks to smart contract capabilities. However, will Ethereum be able to scale through? Is it right to buy Ethereum now that the price is halved from its all-time high?

Top three trends that could help Ethereum keep its position in the crypto community
Ethereum is a second-generation cryptocurrency and one of the top two cryptocurrencies by market cap. However, recent occurrences have made this spot uncomfortable for Ethereum to keep its dominance in the DeFi space. However, these are some of the trends coming on the Ethereum network. In all, they should be enough to make Ethereum thrive in 2022.

Decentralized finance(DeFi)
If there's any way Ethereum could stay winning, it is by ensuring its DeFi dominance. Once it can achieve this, it will thrive in 2022 and beyond. DeFi has been one of the major growths in the Ethereum network and comparing its market cap of over $40 billion in 2021, DeFi is set to improve even better this year. Although there's the problem of regulation that might become a barrier, it's still worth noting that the DeFi ecosystem is advanced, with several investors and project owners coming into the ecosystem. DeFi is becoming more mainstream than it used to be; recall that it existed before its growth began expanding in 2013. DeFi is set to undergo major upgrades this year. Even as Ethereum works around its problem of scalability, more investors are also coming into the network, adding to the user adoption of both DeFi and the entire crypto community. As DeFi grows, the Ethereum network grows, and as the Ethereum network grows, it affects the growth of the entire crypto community and the adoption of blockchain technology. Hence, there's a whole lot at stake should Ethereum lose its stance.

The Decentralized Autonomous Organizations (DAOs)
Here's another reason why Ethereum will thrive in 2022. DAPPs have been an integral part of Ethereum's growth. However, their activities have not been fully discovered. In fact, most investors might not understand what the DAOs do or why they are called Autonomous organizations. They forecast the future of companies, organizations, or institutions that would come together to form a lasting alliance. So, they help merge these organizations with similar visions into one single entity. Their relevance will be becoming more pronounced now that regulation is about to hit the crypto space. So, organizations that won't stand would probably need the DAOs. They would help provide investors governance and help them become more financially stable on the decentralized exchange platforms.

The Proof-of-stake consensus
This is the end-game trend for Ethereum because it could comfortably occupy the top-two position once it completes this transition. One of the main reasons the Ethereum network is so congested is that it can't carry the number of transitions on it presently. Ethereum runs on a proof-of-work consensus similar to bitcoin, which could only process a limited amount of transactions per second compared to the proof-of-stake consensus on major Ethereum killers networks. However, Ethereum has been working on perfecting this transition. Once it's complete, there would be no further undue congestion and high gas fees on the Ethereum network, since it would be having transactions splatted into shards.










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