2022 is all about Ethereum. Just about everything innovative and important happening in the world of blockchain right now is happening in the Ethereum ecosystem. I see three key trends driving growth in the Ethereum ecosystem in the coming year.

First, decentralized autonomous organizations (DAOs) represent the future of how communities, missions, and enterprises are converging in a single format. While DAOs have been around for a while, I see 2022 as the year in which they start to take center stage as a preferred format for building new entities. 

Ethereum is a decentralized computing platform that uses ETH (also called Ether) to pay transaction fees (or “gas”). Developers can use Ethereum to run decentralized applications (dApps) and issue new crypto assets, known as Ethereum tokens.

Ethereum-based apps are built using “smart contracts.” Smart contracts, like regular paper contracts, establish the terms of an arrangement between parties. But unlike an old-fashioned contract, smart contracts automatically execute when the terms are met without the need for either participating party to know who is on the other side of the deal — and without the need for any kind of intermediary.

Ethereum, the second-largest cryptocurrency by market cap, is roughly 50% away from overtaking bitcoin as the largest cryptocurrency.

Some analysts refer to the battle for crypto’s top crown as “The Flippening.” Over the past year, ether has gained ground versus bitcoin across several metrics, including active addresses, Google search interest, and transaction counts.

Following Bitcoin’s success, Ethereum emerged as the second-most-important cryptocurrency in the digital token sphere. Owing to its amazing applications and features, ETHER gained a market capitalization of US$412 billion. Although ETHER has positioned itself on a strong spot, the so-called ‘Ethereum Killers’ like Solana, Cardano, and Avalanche are trying their best to take over its position. Besides, these competing cryptocurrencies are trying to improve on Ethereum’s biggest flaws.

If ETHER loses its user base and developer lead in 2022, the cryptocurrency’s price will fall drastically. Fortunately, such scenarios are not on the radar for now. Investors are trying new methods like burning to keep Ethereum’s price afloat.

ETHER has also come a long way from where it started in 2021. At the beginning of last year, an Ethereum token was valued at US$1,000. Towards the end, ETHER recorded better growth than its competitor Bitcoin. Therefore, experts say that this downwards trend could be a brief distraction, and eventually, ETHER will kickstart its previous play before the end of January. 

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