Blockchain
By Maheen Hernandez
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Ethereum 2.0 is Unfolding
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No denying that the technological improvements in Ethereum are getting better. The community anticipates a wild ride.
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Vitalik.eth retweeted: Year Progress 100%. And, the users had mixed reactions.
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However, since ETH has unlimited supply there will not be a point in time where they will run out of tokens to pay miners.
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The price of Ethereum has been wild; however, with technological upgrades and improvements in the scope of what they can deliver it just looks like they are gaining their footing.
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Ethereum 2.0 is unfolding and it is important to know what it is all about. This is an advanced version of the already existing Ethereum blockchain.
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Some fundamental changes are made and they are Sharding and PoS respectively.
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For clarity, Sharding is a technological process where one blockchain is split into multiple blockchains and these split blockchains each are known as shards.
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For clarity on POS, In a proof of stake consensus mechanism, there are validators as opposed to miners.
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Validators should make a deposit contract of 32 ETH and it is locked in by these validators. This works just like a security deposit.
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Ethereum 2.0 when complete is expected to be better in terms of scalability. We need to see how things unfold.
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