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Ethereum ranks second among Chinese blockchains after hard fork
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Date：2024-05-11 20:11:26 Channel：Crypto Read：
In the blockchain world, Ethereum has always been a high-profile star project. However, a recent hard fork opened the eyes of Ethereum’s potential to become the second largest blockchain in China. This change not only affects Ethereum itself, but also arouses widespread attention and discussion around the world. This article will delve into the process of Ethereum’s emergence in the Chinese blockchain after the hard fork, analyze the reasons and significance behind it, and look forward to the future development direction.Ethereum Hard Fork: Opening the Road to China’s BlockchainAs a leader in smart contracts and decentralized application platforms, Ethereum has always been famous for its powerful ecosystem and innovative technology. However, the latest hard fork has brought new opportunities and challenges to Ethereum. In China's blockchain field, Ethereum's status has gradually risen, firmly occupying the second place. What kind of story is hidden behind this change?The rise of Ethereum in ChinaWith the Chinese government's support and promotion of blockchain technology, China's blockchain market is booming, attracting an influx of more and more capital and talents. As the world's leading blockchain platform, Ethereum has naturally become the first choice for many developers and investors. Its powerful functions and flexible architecture provide developers with a wealth of tools and resources, attracting a large number of outstanding projects and teams to join it, and promote the rapid development of Ethereum in China.Hard Fork: The Rebirth of EthereumHard forks are a common phenomenon in the blockchain world and usually mean significant changes to blockchain protocols and rules. For Ethereum, this hard fork is not only an upgrade of technology, but also a reshaping of the entire ecosystem. Through the hard fork, Ethereum has solved previous problems and contradictions, improved the performance and security of the network, and further consolidated its position in China's blockchain.The second challenge and opportunity of China’s blockchainAs the second-ranked blockchain project in China, Ethereum faces many challenges and opportunities. On the one hand, competition is becoming increasingly fierce, and other projects are also rising, which has put certain pressure on Ethereum; on the other hand, the huge potential and opportunities of the Chinese market have also brought broad development space for Ethereum. How to stay ahead in the fierce competition and how to better adapt to the needs of the Chinese market are all issues that Ethereum needs to think about and solve.Looking to the future: Ethereum’s development blueprintAs blockchain technology continues to evolve and develop, Ethereum, as a leading blockchain platform, will continue to play its important role and lead the development direction of the industry. In the future, Ethereum will further improve its ecosystem, promote the widespread application of smart contracts and decentralized applications, strengthen cooperation and exchanges with the Chinese blockchain market, and achieve greater development and breakthroughs.Overall, Ethereum’s second-ranked position among Chinese blockchains is no accident, but the result of its unremitting efforts and continuous innovation over the years. Through the hard fork, Ethereum has been reborn, showing a more powerful and stable development trend. In the future, with the popularization and application of blockchain technology, Ethereum will surely usher in a more brilliant tomorrow and contribute to the development of the blockchain industry.The four most famous international exchanges:
Binance INTL
OKX INTL
Gate.io INTL
Huobi INTL
China Line APP DL China Line APP DL
China Line APP DL
China Line APP DL
Note: The above exchange logo is the official website registration link, and the text is the APP download link.
The Chinese government-backed technical working group has released its 15th blockchain technology assessment report, in which Ethereum was promoted to second place following its recent hard fork. On December 6, the Center for Information Industry Development (CCID) released this list, ranking a total of 35 projects.
In the latest ranking, EOS maintains its leading position, Ethereum rises from third to second place, and Tron (TRX) ranks third. Bitcoin (BTC) ranks ninth, while Ripple doesn’t even make the top ten, ranking at 18th.
Top 20 Cryptocurrency Assessment (Issue 15) Image source: Center for Information Industry Development (CCID)
The rise of Ethereum
Ethereum’s rise can be attributed to its recent network upgrades. Before the hard fork, Ethereum co-founder Vitalik Buterin had said that after the network upgrade update, it would reach 3,000 transactions per second.
The upgrade also received widespread support, with several popular exchanges announcing they would update their nodes ahead of the hard fork. Still, some experts claim that the update is not enough and that Ethereum is far from becoming the “world computer” it is marketed to be.
China Blockchain Application
Recent reports indicate that blockchain is increasingly being developed and applied in China.
Yesterday, Cointelegraph reported that China plans to conduct the first real test of its central bank digital currency, and that the central bank has issued special blockchain-based financial bonds worth 20 billion yuan ($2.8 billion) for Chinese small and micro enterprises.
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