Ethereum 2.0 ... it's the final countdown!

Ethereum 2.0 ... it's the final countdown!

By PVMihalache | Mind Puzzle | 24 Nov 2020


Play and start reading... cause it's the final countdown for Ethereum 2.0

I am an Ethereum fan and I am a believer that ETH2.0 will be the solution to the current high gas fees. ETH2.0 will also bring a mega boost in speed as will scale from the current values to 100,000 transactions per second. The upgrade will bring a rejuvenation to the DeFi sector and the applications and cryptocurrencies built on the ETH chain. I said it in the past and I will maintain my metaphor ... cause Ethereum is burning bright and majestic as the Phoenix does!

a84837794fcfe6aa7d2dad914e055e108a2569e21f1bce0b2c257fcb8adde952.jpeg

The long wait, and the constant delays linked to the deployment of ETH2.0 are close to an end this December. After Medalla was successfully launched (after two or three failed attempts) looks like the final countdown is very close. The upgrade will change the existing POW to POS. The big issue with Proof-of-Stake comes from the ETH miners, who must abandon their existing profit model and become validators. The ex-miners must lock Ethereum to qualify as validators, and the block reward gets bigger with the amount locked into the staking process. If in theory, the larger holding will receive a bigger reward, the reality is that POS is less secure than POW and even if a validator will have the largest share, no one will know who controls the reward.

The minimum amount to qualify as a validator is 32 Ethereum, and 16384 deposits are required for the genesis event. So lets make an easy calculation and 32 multiplied by 16384 makes 424,288 Ethereum needed in the genesis pool by 24th of November. If everything goes smoothly, than the genesis of ETH2.0 will start on the 1st of December. 

The current crazy fees are not making any favours to Ethereum, and the overwhelmed market needs a fresh product. If the genesis of ETH2.0 will start on the 1st of December, than the people's trust and confidence in Ethereum will rise and the reduction of gas fees will bring balance in the crypto ecosystem. The success of Ethereum 2.0 is linked to supply the product to match the growing demand for a stable and accessible platform. d5d47b733d8dcd68c8e46a46cc65802d4b5ca947773c8b242debac03db20b08e.jpeg

Ethereum Price since the announcement of the genesis date was stable, hoovering above $450. In the last few days, as the deadline for valodators approched, the value surged and Ethereum reached $600. A higher volatility is expected after the 24th of November, as traders will look to picked some Ethereum before 2.0 will land. According to the latest update, the staking requirements in the ETH2.0 deposit contract are completed. 

This rush to become a validator made the Dubai-based firm IBC Group to stake $10 million worth of ether (ETH) to support the Ethereum 2.0 launch. This was done in partnership with Canadian-based staking service CanETH. The IBC investment is equal to 687 validators, and the 21,984 ETH will be paid in three tranches. This move shows how Dubai wants to become a major player in the crypto ecosystem and it's development.404a899c36a6c0a2eb0722a144a056caf24a85a636372d8a929b1976d1ea9c47.jpeg

You are unsure about how ETH2.0 will change the world? Just listen to Vitalik, one of the brightest minds of the 21st century.

If you are a fan of Roberto's Periodic Table NFT Colection, the Calcium NFT Giveaway is now live on Heruvim78's blog.

 

Links and referrals:

Ethereum 2.0 Launch Date

Ethereum: burning bright and majestic as the Phoenix does!

Dubai Firm investing $10 million in Ethereum

Calcium NFT Giveaway 

Coinbase Earn - Up to $59 Compound (COMP)

Coinbase Earn - Up to $52 worth of Orchid (OXT)

Coinbase Earn - Up to $50 worth of EOS

I used Swapzone for the lowest fee swaps

Amazon author page: PV Mihalache

Quality Faucets: Free-Litecoin.com (LITECOIN)

Stakecube (20 daily faucets)

Tier 4 referral system: Horizen (ZEN) & ZCash from PipeFlare GlobalHive

FreeCryptos GangDASH, TRX, ETH, ADABNBLINKNEO & BTC

Coinpot Gang: DASHBCHDOGELTCBTC BTC2

I earn crypto for reading and writing on Publish0x and ReadCash, watching videos on Lbry.tv and surfing online on Brave Browser and Presearch

928bcfa8a88d3b962e756a0d6cd067665949eb5b3656bdbb2bb7198e8ca6a0ba.jpeg


PVMihalache
PVMihalache

Self-Published Author, Football Referee, Football Coach, Early Crypto Investor, Personal Trainer, Well-Being Guru, Open-Minded, Traveller, Social Media Enthusiast, and many more...


Mind Puzzle
Mind Puzzle

Think! ... it's still free! An amalgam of cryptocurrency, science, arts, news and other manifestations of human intellectual will be published on this blog. Sometimes I will add my personal opinions or midnight revelations

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.