In simple terms, the Bitcoin PoW blockchain is a lot like a bank’s ledger keeping track of every transaction happening on the network.  All the computers/miners on the Bitcoin network contribute their computing power to ensure the network is accurate and secure.

Bitcoin stops with documentation, but Ethereum works like a world computer.  A lot flexible than the Bitcoin blockchain. Ethereum is being used by developers to build wide varieties of tools.  Anything from logistics management software to games through the DeFi applications covering for lending, borrowing, trading and others Ethereum has a role to play.

The Ethereum virtual machine is called the giant, global, computer made up of several individual computers, which help in the functioning of Ethereum Software.

The smart contracts are executed when users pay a gas fee.  This fee paid is known as gas.  The Gas rates differ depending upon how busy the network is. Since the ETH Network has lot of projects running on it, many times the congestion is high and to get the contracts executed real quick, the gas fees are hilariously high.

The transition of Ethereum to ETH2 has already started and when it is complete the holdings on the ETH 1.0 blockchain will automatically migrate to the ETH2 blockchain.  The bottlenecks with PoW based ETH 1.0 makes it necessary to shift the crypto asset platform altogether to ETH 2.0. Ultimately, the entire network will be PoS.

The good thing about PoS is that, as opposed to needing to have a network of participants who are competing with each other in PoW to solve a puzzle, stakers are invested in the success of ETH. These stake holders are known as validators.

In the Proof of Stakes (PoS) process, stake holders contribute their ETH to their staking pool instead of contributing processing power.

Those who stake rewards will be earning rewards in proportion to the size of their stake.  The staking process is meant to act like an interest bearing account. The winner is selected depending upon, the amount of ETH the validator has in the pool. The winner validates the latest block of transactions, and other validators will attest stating that it is accurate.

Is there momentum for the price to continue setting new highs? Will Ethereum go up or down in the short term? No asset will go up forever, nor go down forever.  It is for investors to watch the trend and ride the wave to make their desired profits.  Ethereum Killers are lining up too!