๐๐ฉ๐๐๐ง๐๐ช๐ข 2.0. ๐๐๐๐ฉ ๐๐จ ๐๐ฉ๐จ ๐๐๐ซ๐๐ฃ๐ฉ๐๐๐ ๐๐ฃ๐ ๐๐ค๐ฌ ๐ฌ๐๐ก๐ก ๐๐ฉ ๐๐๐๐๐๐ฉ ๐ฉ๐๐ ๐ฅ๐ง๐๐๐. ๐ช
Ethereum 2.0 is an update of its predecessor Ethereum 1.0 and should help scale the blockchain by moving to a new Proof-of-Stake (PoS) concept to replace the existing Proof-of-Work (PoW). The main difference is that the blockchain will now be maintained by the cryptocurrency owners, who will be paid a small fee for doing so, and miners will simply not be needed in this case. Of course, this concept (Staking) will greatly increase the scalability of the Ethereum network.
๐๐๐ง๐ ๐๐ค๐ง๐ . ๐ฝ๐๐ง๐ก๐๐ฃ ๐๐ฃ๐ ๐๐ค๐ฃ๐ค๐.
As part of the upgrade to Ethereum 2.0, the developers plan to launch two hard forks, Berlin and London. The first one took place as early as April 15 and was supposed to affect the cryptocurrency's transaction fees. The launch did not go smoothly and put the network down for a couple of hours. This hard fork was supposed to temporarily affect the commission, as the cryptocurrency's transaction fee increased by 90% at times of strong growth.
The London hard fork is scheduled for July, and should completely change the commission algorithm. This algorithm will burn off some of the commissions that miners currently receive, thereby making commission pricing more predictable and less volatile. The exact timeline for the transition to Ethereum 2.0 is unknown at this time.
๐๐ค๐ฌ ๐๐๐จ ๐ฉ๐๐ ๐ข๐๐ง๐ ๐๐ฉ ๐ง๐๐๐๐ฉ๐๐ ๐ฉ๐ค ๐ฉ๐๐ ๐ฃ๐๐ฌ๐จ?
In addition to bitcoin $BTC continuing its growth since the beginning of the year and pulling other cryptocurrencies along with it, the news of Ethereum's $ETHEREUM scaling up has been very positively received by investors. This gives an indication that Ethereum is being actively worked on to improve it, allowing $ETHEREUM not only to keep up with its competitors but also to outperform them quite a bit.
๐๐ฎ ๐ฅ๐๐ง๐จ๐ค๐ฃ๐๐ก ๐ค๐ฅ๐๐ฃ๐๐ค๐ฃ ๐ค๐ฃ ๐๐ฉ๐๐๐ง๐๐ช๐ข
Personally, I am positive about the future of this cryptocurrency in the long term, because of the technological development, and the trust that is being built among private investors and, slowly, funds.
If you liked this article, please press the "like" button and write your opinion about this Ethereum update.
I also invite everyone to go to my page and take a look at my financial strategy and stats. I think it will be interesting for many investors.
Have a great day everyone!
Peace โ๏ธ
$ETHEREUM... Show More
Not investment advice. The author may have financial interests in the mentioned instruments.
how would you weight Ethereum 2.0 against ADA? I prefer Ethereum since it has a working technology that is already being used with smart contracts. ADA is too academic, was their smart contracts go live, we'll actually see how poorly it is being used. Any thoughts?... Show More
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