Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: brives887 on July 19, 2022, 08:27:15 AM
-
Ethereum itself has been criticized for its low efficiency and high gas rates. As Ethereum grows in popularity, its users and applications continue to grow. Entering funds and traffic will increase the demand on Ethereum. At the same time, the rise of new public chains is also gaining heavy traffic and users from Ethereum. Trade ETH with mexc.com. Due to the above factors, there is an urgent need to upgrade Ethereum.
Ethereum 2.0
The goal of Ethereum 2.0, also known as Serenity or ETH2.0, is to address the present Ethereum network's scalability and security issues. End of April 2020 saw the introduction of the ETH2.0 testnet, while December 2020 saw the official launch of the ETH2.0 mainnet. Since then, Ethereum 2.0 has been formally launched.
Beacon Chain: Beacon Chain was introduced to synchronize all shard chains and provide consensus to all shard chains. This is an important component and was introduced by Serenity to ensure the exchange of information between shard chains.
Shard Chain: In Ethereum, a node is required for everyone who wishes to assess the Ethereum network. A node is a replica of the complete network that serves a specific purpose. Trade ETH with mexc.com. Shard chains limit the amount of data that nodes must manage, resulting in greater performance. Shard chains only include a portion of the blockchain.
1.From Proof of Work (PoW) to Proof of Stake (PoS)
Ethereum's consensus mechanism is Proof of Work, while Ethereum 2.0 uses Proof of Stake. Ethereum's Proof of Work (PoW) aims to reward miners for creating and validating blocks on the blockchain. However, such a mechanism limits scalability because it requires a certain amount of computing power as the blockchain grows. Proof of Stake (PoS) was introduced to attract more validators. That is, anyone with at least 32 ETH can pay for transaction validation and verification.
2.Ethereum 2.0 has better scalability
Ethereum has always been known as the king of the public chain. Many popular projects such as DeFi in the summer of 2020 and NFT & DAO in 2021 are being carried out on the Ethereum public chain. However, the congestion and high gas prices of the Ethereum network have been criticized by users. Trade ETH with mexc.com. The reason is that Ethereum 1.0 causes lag and congestion because the network can only support about 30 transactions per second. Ethereum 2.0 achieves up to 100,000 transactions per second by implementing a shardchain to solve scalability issues.
3.Ethereum 2.0 will be more secure
Security is also taken into consideration in the Ethereum 2.0 plan. A minimum of 16,384 validators are required to deposit ETH on Ethereum 2.0. This makes Ethereum more decentralized and safer. At the same time, the Ethereum Foundation has set up a dedicated security team to serve Ethereum 2.0 and detect potential network security issues with cryptocurrencies.
-
Ethereum 2.0 is a new version of the Ethereum blockchain that will use a proof of stake consensus mechanism to verify transactions via staking.
-
Ethereum 2.0 is a new version of the Ethereum blockchain that will use a proof of stake consensus mechanism to verify transactions via staking.
I think everyone hope Ethereum 2.0 will solve their gas fee problem , but I see it doesn't.
Maybe we should wait Ethereum 2.0 launched completely.
Hopefully it will be
-
In my opinion After Eth 2.0 we see that Ethereum is became a centralized because there are 4 to 5 major ETH stacking pools which have a very high amount of eth , but before Ethereum merge eth is mined by many pools and miners and at any time like ftx there is a risk .
-
In my opinion After Eth 2.0 we see that Ethereum is became a centralized because there are 4 to 5 major ETH stacking pools which have a very high amount of eth , but before Ethereum merge eth is mined by many pools and miners and at any time like ftx there is a risk .
We all see about Ethereum 2.0, every investors believed it will have good solution for Ethereum gas fee
Especially high gas fee
But until now, it cannot be solved.
-
Yeah, you're right.Every investors wait the Ethereum gas fee problem.
They believe Ethereum 2.0 will solve this problem, So better to wait the Ethereum 2.0 launched completely
-
Ethereum 2.0 is a new blockchain that is designed to be used by the Ethereum platform users. It will use a Proof of Stake consensus mechanism.
-
In my opinion ETH 2.0 has made ethereum to become a centralized because there are four to five major pools who own most of the ether. But before the merge ETH was mined by many pools. In the future, there's a risk in any time.
-
Ethereum 2.0 is a new blockchain that is designed to be used by the Ethereum platform users. It will use a Proof of Stake consensus mechanism.
It's gokd technology of Ethereum, but doesn't not have good solution for their classic problem.
I see above, there is comment about gas fee problem, I agree with this.
Ethereum team didn't solve this problem