2021, especially the first quarter of it, has been an incredible year for cryptocurrency. The current surge is just the beginning, and massive events are coming up in 2021, which will cause the market to surge higher. Your biggest mistake during this bull run might be that you were not bullish enough. Several significant events are happening this year; these events are signs that cryptocurrency will explode in 2021. It is also imperative to have these events in mind because the market is very news reactionary; these significant events' anticipation tends to move markets.
The first event is the Ethereum upgrade called Optimism. Unfortunately, this upgrade has been delayed and is scheduled to come out approximately by July or August this year but definitely in 2021. Optimism is one of the most anticipated scaling solutions for Ethereum to happen before the major Ethereum 2.0 upgrade next year. Optimism will allow for 100x scalability on Ethereum before Ethereum 2.0. It will also allow for that scalability to apply to the Ethereum smart contracts, not only to transfer tokens back and forth.
Currently, Ethereum is unusable by individuals apart from wealthy investors who can afford to pay on-chain fees. On-chain fees on Uniswap cost about 50 to 100 dollars per transaction; even basic token transfer cost about 20 dollars. Optimism will solve those problems by internalizing Layer Two Scalability into the Ethereum blockchain. Major DeFi protocols are already signaling that they will support and implement this technology when deployed on the main net. It will allow a new surge of users to come in and use the Ethereum application; they will be able to use DeFi and NFT. The current gas fees are why people are avoiding the Ethereum blockchain, so when this upgrade arrives, it will be a 'savior.'
The second significant event to watch out for in 2021 is Polkadot Parachains. The Polkadot network has built an incredible amount of excitement for both users and developers to anticipate their upcoming launch for Parachains.
Parachains mean that Polkadot will be a fully operational network, and projects can finally come and deploy their blockchains on the Parachains on the Polkadot network. From the look of things, the most anticipated network launch in recent crypto history will be happening in a few months.
There are already about a hundred different cryptocurrency protocols ready to deploy to the Polkadot network. When it launches, there will already be an ecosystem ready to go.
Currently, the test net for Polkadot has done the first seven Parachain auctions. Kusama, Polkadot's second, will also be launching its Parachain auctions soon.
The Polkadot Parachain launch is expected to be a massive market-moving event, especially with the Polkadot hype continuing for the rest of the year. The hype is coupled with the fact that Parachians are not just a one-day thing; they are a continual process with new auctions happening all the time and a constant news cycle and hype building around it.
