ETHEREUM 2.0

By cLEarn | LEARN CRYPTO | 15 Aug 2020


Ethereum 2.0 (“Serenity”) is an upgrade to the Ethereum Network which improves the speed, efficiency, and scalability of the network. 

Ethereum core development team is working on a big upgrade, which is known as Ethereum 2.0. It involves re-create the entire Ethereum platform, launching a new, more better version.

Implementation will start this year and will run for another year or two until all three phases are complete. Part of the Ethereum 2.0 implementation involves moving Ethereum from PoW to PoS consensus.

  • Phase 0 – Beacon Chain
  • Phase 1- Shard Chain
  • Phrase 2 – Execution Engine

Proof of Stake solutions like Beacon and Casper refer to switching how ETH is created. This refer to how the system is secured and how new coins are mined.

The following teams are either researching or developing a beacon chain / shard client:

Plasma is an extra layer that sits on top of the network that can handle massive amounts of transactions. It is the Ethereum version of Bitcoin’s Lightning Network.

Raiden is an off-chain scaling solution, like Plasma. Thus, this is also an Ethereum answer to the Lightening Network.

eWASM The current EVM blockchain executes smart contract code immediately when a transaction is processed.


Every aspect of “Ethereum 2.0” offers an answer to the below problems… and it reminds us that the future is bright since Ethereum 3.0, 4.0, etc are possible for the future.

Problems that will be improved or resolved with ETH 2.0 are :
  1. Scalability
  2. A solution for the difficulty bomb
  3. Security
!!! IMPORTANT INFORMATION: FOR BECOMING A NODE VALIDATOR IN FUTURE ETH 2.0 NETWORK YOU MUST HOLD 32 ETHEREUM !!!

 

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cLEarn
cLEarn

cLEarn Project will help people learning and earning in cryptosphere.


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