Hello Everyone,
Today I would try to discuss more regarding some fundamentals of ETH...
1. CME Futures in relation to contracts already existed (e.g. perpetual contracts)
Many traders worry on ETH price regarding to USD. That is why many of them switched to Bitcoin (as safest asset) before 8th of February. They still remember when CME Futures came for Bitcoin. Bitcoin topped-down as many traders started to short Bitcoin. From that time, very important was CME Futures gaps (created during the weekend). There is a question, why recent time the market ignore the CME Future gaps, leaving them unfilled? I think the answer is that many traders took the newer option - perpetual contracts on different exchanges as an option they could trade everytime they want to. That is, in my opinion, the answer.
What impact could have the importance of perpetual contracts for the CME Futures opening? Well the answer is that time is different - bacause CME Futures would not have such big impact this time as perpetual contracts for ETH/USD pairs on the crypto exchanges... There is a question if would have this any impact(?): In my opinion, yes, the commercial propaganda effect for ETH and more interest at the market. Both official trusts (as Grascale) as... the Spot market...
2. Implementing of EIP-1559
Many people is interested in EIP-1559 as this is improvment which could create a deflation of ETH 1.0, increasing the price. This implementation is "almost" ready to be implemented. However, "almost" (in this case) really makes a different. If you would read the description of implementation EIP-1559, this still has a status "Draft". And in the description you would read as thi implementation... requires implementation EIP-2718, which status is "under review"... So, there should be appriopriate sequence of implementations.
3. Other implementations: URLs for ETH wallets to more convinient payments.
According to Ethereum Foundation web-page, Monday is the deadline for "last call for reviewers" for any corrections to the implementation of EIP-681. All required implementations ahve been done, so, there is no objections to implement this. I would not discribe that in my words, just cite the source directly:
"(...)
Simple summary
A standard way of representing various transactions, especially payment requests in Ethers and ERC-20 tokens as URLs
Abstract
URLs embedded in QR-codes, hyperlinks in web-pages, emails or chat messages provide for robust cross-application signaling between very loosely coupled applications. A standardized URL format for payment requests allows for instant invocation of the user’s preferred wallet application (even if it is a webapp or a swarm đapp), with the correct parameterization of the payment transaction only to be confirmed by the (authenticated) user.
Motivation
The convenience of representing payment requests by standard URLs has been a major factor in the wide adoption of Bitcoin. Bringing a similarly convenient mechanism to Ethereum would speed up its acceptance as a payment platform among end-users. In particular, URLs embedded in broadcast Intents are the preferred way of launching applications on the Android operating system and work across practically all applications. Desktop web browsers have a standardized way of defining protocol handlers for URLs with specific protocol specifications. Other desktop applications typically launch the web browser upon encountering a URL. Thus, payment request URLs could be delivered through a very broad, ever growing selection of channels.
This specification supersedes the defunct ERC-67, which is a URL format for representing arbitrary transactions in a low-level fashion. This ERC focuses specifically on the important special case of payment requests, while allowing for other, ABI-specified transactions.
(...)"
There is a question, why BTC did not use its chance... That is a question to the time of trasfers. If there is from 20 min to couple of hours for transfer realization, this time makes it difficult to realize purchasing on-line in real time. ETH has also delay, however is much, much quicker at the moment than BTC. That is a true advatage of ETH.
4. Concluding remarks
CME Futures will not have such impact as perpetual contracts on different crypto-exchanges, however, is a big step to mainstream adoption. Creating URLs and QR codes for ETH wallets is much, much bigger step to mainstream adoption. Also for web-pages of on-line stores... ;-) In next couple of months we would have seen other steps of ETH 2.0 (Phase 1). That also helps to make the ETH network much quicker than it is now. BTW, Visa would implement not only BTC accounts to their system, but also in other cryptos (ETH? ;-) ).
So what does that all mean? ETH is on-wave! ;-)
Today I would try to discuss more regarding some fundamentals of ETH...
1. CME Futures in relation to contracts already existed (e.g. perpetual contracts)
Many traders worry on ETH price regarding to USD. That is why many of them switched to Bitcoin (as safest asset) before 8th of February. They still remember when CME Futures came for Bitcoin. Bitcoin topped-down as many traders started to short Bitcoin. From that time, very important was CME Futures gaps (created during the weekend). There is a question, why recent time the market ignore the CME Future gaps, leaving them unfilled? I think the answer is that many traders took the newer option - perpetual contracts on different exchanges as an option they could trade everytime they want to. That is, in my opinion, the answer.
What impact could have the importance of perpetual contracts for the CME Futures opening? Well the answer is that time is different - bacause CME Futures would not have such big impact this time as perpetual contracts for ETH/USD pairs on the crypto exchanges... There is a question if would have this any impact(?): In my opinion, yes, the commercial propaganda effect for ETH and more interest at the market. Both official trusts (as Grascale) as... the Spot market...
2. Implementing of EIP-1559
Many people is interested in EIP-1559 as this is improvment which could create a deflation of ETH 1.0, increasing the price. This implementation is "almost" ready to be implemented. However, "almost" (in this case) really makes a different. If you would read the description of implementation EIP-1559, this still has a status "Draft". And in the description you would read as thi implementation... requires implementation EIP-2718, which status is "under review"... So, there should be appriopriate sequence of implementations.
3. Other implementations: URLs for ETH wallets to more convinient payments.
According to Ethereum Foundation web-page, Monday is the deadline for "last call for reviewers" for any corrections to the implementation of EIP-681. All required implementations ahve been done, so, there is no objections to implement this. I would not discribe that in my words, just cite the source directly:
"(...)
Simple summary
A standard way of representing various transactions, especially payment requests in Ethers and ERC-20 tokens as URLs
Abstract
URLs embedded in QR-codes, hyperlinks in web-pages, emails or chat messages provide for robust cross-application signaling between very loosely coupled applications. A standardized URL format for payment requests allows for instant invocation of the user’s preferred wallet application (even if it is a webapp or a swarm đapp), with the correct parameterization of the payment transaction only to be confirmed by the (authenticated) user.
Motivation
The convenience of representing payment requests by standard URLs has been a major factor in the wide adoption of Bitcoin. Bringing a similarly convenient mechanism to Ethereum would speed up its acceptance as a payment platform among end-users. In particular, URLs embedded in broadcast Intents are the preferred way of launching applications on the Android operating system and work across practically all applications. Desktop web browsers have a standardized way of defining protocol handlers for URLs with specific protocol specifications. Other desktop applications typically launch the web browser upon encountering a URL. Thus, payment request URLs could be delivered through a very broad, ever growing selection of channels.
This specification supersedes the defunct ERC-67, which is a URL format for representing arbitrary transactions in a low-level fashion. This ERC focuses specifically on the important special case of payment requests, while allowing for other, ABI-specified transactions.
(...)"
There is a question, why BTC did not use its chance... That is a question to the time of trasfers. If there is from 20 min to couple of hours for transfer realization, this time makes it difficult to realize purchasing on-line in real time. ETH has also delay, however is much, much quicker at the moment than BTC. That is a true advatage of ETH.
4. Concluding remarks
CME Futures will not have such impact as perpetual contracts on different crypto-exchanges, however, is a big step to mainstream adoption. Creating URLs and QR codes for ETH wallets is much, much bigger step to mainstream adoption. Also for web-pages of on-line stores... ;-) In next couple of months we would have seen other steps of ETH 2.0 (Phase 1). That also helps to make the ETH network much quicker than it is now. BTW, Visa would implement not only BTC accounts to their system, but also in other cryptos (ETH? ;-) ).
So what does that all mean? ETH is on-wave! ;-)