Ethereum's Confident Steps Forward

GM Readers!📪 It's BitDegree Insider, and it's time to stop wasting time.

⭐️Today's selection:

• 👟Ethereum's Step Towards Mass Adoption
• 🗿BTC Tourism
• 💰Venture Monday
• 👌Selected Meme of The Day
• 📰Bite-Sized News

ETHEREUM'S MOVING FORWARD

Is Ethereum overrated or underrated? Let's take a closer look at a couple of recent developments.

First up, the highly anticipated Shanghai update is just around the corner.

This update will allow stakers to unlock their staked ETH.  But with 17 million ETH currently in the pool, there's some concern that a massive sell-off will crash the price.

But hold your horses, folks. While some stakers may choose to sell, many bought in at a higher price and may opt to hold on to their ETH.

It's all about weighing the risks and benefits.

What's your guess? 

But let's talk about something even more exciting: the release of the ERC-4337 standard on the ETHEREUM mainnet! It has already happened! This is a total game changer!

This standard essentially turns accounts into programmable smart contracts, making it easier for new users to use Ethereum.

And that's not all – it also allows for easy wallet recovery, quick transaction signatures via Face ID, and simplified building of DApps.

These benefits make Ethereum much more accessible and user-friendly, which could attract a massive influx of new users and investment.

Now, let's not ignore the potential risks associated with these developments, such as new types of hacks and less privacy.

However, it's important to recognize that these risks are not unique to Ethereum. And when you weigh the benefits against the downsides, it's clear that Ethereum is still worth the investment.

There's also the matter of Ethereum's founder, Vitalik Buterin, potentially sacrificing some independence for mass adoption.

But, let's be real – a balance must be struck between user independence and mass adoption to ensure the platform's success and growth.

And while regulatory concerns continue to be a challenge for the crypto industry as a whole, Ethereum remains well-positioned to overcome them.

Overall, these recent developments represent massive opportunities for Ethereum and its users.

As the platform continues to evolve, it's crucial to consider both the risks and benefits to ensure its success in the long run. So buckle up and get ready for an exciting ride!

And... It's probably going to be more exciting than this clip of the man himself, Vitalik Buterin, busting a groove to the Badger Dance.

TL;DR: The ERC-4337 standard on the ETHEREUM mainnet has been successfully released. It will allow the blockchain onboard new users way faster. This may allow the entire network to grow its user base rapidly.

BTC TOURISM

El Salvador has become the talk of the town ever since it became the first country in the world to legalize bitcoin as a legal tender last year.

The country's bold move has paved the way for a new infrastructure that allows even street vendors to accept cryptocurrency as payment for their fast food delicacies.

And guess what? It's spurring tourism like never before!

In a recent interview, El Salvador's President Nayib Buquele shared some exciting news.

He revealed that tourism in the country has grown by a whopping 95% over the past year and a half. Talk about an impressive feat!

What's even more impressive is the fact that this growth trend shows no signs of slowing down.

In just three months after the legalization of bitcoin, the number of tourists visiting the country increased by 30%.

And get this, El Salvador received 300,000 more visitors than expected, with the majority coming from the United States.

But why is El Salvador suddenly becoming the go-to destination for tourists?

Of course, it's the only country in the world where you can use bitcoin to pay for just about anything. Apart from that, the country boasts breathtaking natural scenery, low prices, and a well-developed service sector. It's a perfect blend of novelty and practicality.

And that's not all, folks. In the interview, President Buquele also mentioned another exciting advantage: private investment.

Big traders from all over the world are flocking to El Salvador for conferences, meetups, and events.

And they're not just there to spend money, they're also investing in the country's development.

El Salvador's decision to legalize bitcoin was certainly a gamble, but it's clear that it's paying off big time.

The absence of materialized risks has been acknowledged by the IMF, making it a resounding success.

If you haven't already, it might be time to add El Salvador to your travel bucket list!

TL;DR: Tourism to El Salvador has increased significantly since the country has legalized bitcoin as legal tender last year. 

VENTURE MONDAY

Non-Custodial Liquid Staking Platform Ether Fi raised $5.3M in a seed funding round led by North Island Ventures, Chapter One and Node Capital, with participation from Version One, Arrington Capital, Purpose Unlimited and Arthur Hayes.

Ether.fi is a decentralized platform that allows people to stake their ETH and earn rewards without giving up control of their coins.

Normally, when you stake your coins on a platform, someone else (called a node operator) holds your coins and does the staking for you.

This can be risky because you're trusting someone else with your money. Ether.fi is different because you keep control of your coins and delegate the staking to a node operator.

When you stake your coins on Ether.fi, an NFT (a special type of digital asset) is created for each validator (a computer that does the staking).

These NFTs are used to create a new type of token called eETH, which represents your stake in the validator.

Overall, Ether.fi aims to make staking on the Ethereum network more decentralized and accessible to everyone.

DeFi app and protocol Affine Protocol raised $5.1M in a seed funding round led by Hack VC and Jump Crypto, with participation from Spartan Group, Coinbase Ventures, Circle Ventures and AlphaLab Capital.

Affine is an investment and savings app that allows users to invest in diversified portfolios of cryptocurrencies, called "baskets."

These baskets are made up of individual strategies, which are like specific transactions that can include buying and holding different cryptocurrencies, or lending them out to earn interest.

Affine is similar to ETFs in that it provides an easy way to invest in a diversified portfolio of assets.

However, unlike ETFs, Affine is focused exclusively on cryptocurrencies and operates on a decentralized blockchain network.

SELECTED MEME OF THE DAY

BITE-SIZED NEWS

• Secret Services Raid S&P Solutions Headquarters over Fraud Allegations. Like swatting but in DeFi world.
• Comprehensive Crypto Legislation in Australia Unlikely to be Released in 2023. Confused unga bunga.
• Stablecoin Issuer Tether Responds to WSJ Allegations of Shady Financial Dealings. Well, they should make it crystal clear once and for all.