How Do You Know Ethereum 2.0

How Do You Know Ethereum 2.0

By mummyrio | SIDECHAINNEWS | 29 Dec 2020


Ethereum 2.0 is going to be launched in 2021.  The first phase of upgrade is in 2020. 

Ethereum 2.0, also known as Eth2 or “Serenity”, is an upgrade to the Ethereum blockchain. The upgrade aims to enhance the speed, efficiency, and scalability of the Ethereum network so that it can process more transactions and ease bottlenecks.

https://decrypt.co/resources/what-is-ethereum-2-0

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HOW DO YOU KNOW ETHEREUM 2.0

1. Ethereum 1.0 is proof of work coin while ethereum 2.0 is a proof of stake coin. 

 Proof of work nodes are run by miners while proof of stake needs stakers as validators. Validators will earn reward for validating transaction that is called " minting" or "forging" .

2. Ethereum 1.0 is able to verify 30 transaction per second while ethereum 2.0 is set to verify 100,000 transactions / second. 

3. Ethereum 2.0 needs min 16,384 validators so the network resistance is better than ethereum 1.0. 

4. 3 phases of launching Phase 0 in December 2020, Phase 1 will be in 2021, and Phase 2 will be in 2021/2022.

5. Beacon Chain is released in December 2020. 

6. Each staking must be 32 ETH or $19,000 USD by November 24, 2020. 

7.  Vitulik Butterin staked 3,200 ETH. 

9. Proof Of Work Eth 1.0 will be turned off after all ETH 2.0 phases done. 

Those nine points that I understand how and what ethereum 2.0 is. In the near future, when more holders stake eth to earn reward from validating transaction, there will be more shortage of eth in the market. It can be a triger of eth price bull. 

HODL ETH

Hodling eth will be a choice of investment for long term saving. ETH price will be pumped when more people stake their eth for being validators. it means the there is an increase of eth demand in market. As supply and demand law, the price of eth is possible to bullish after that. 

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mummyrio
mummyrio

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