October 15th, 2021
Ethereum 2.0
Explore the latest news about Ethereum 2.0, stay up to date on the major developments related to the event, check expert insights, Ethereum (ETH) price forecasts and more.
Ethereum Rolls Out EIP-3554, Is It Beginning of End of ETH Mining?
By Bhushan Akolkar September 30th, 2021
The EIP-3554 implementation delays the activation of the difficulty bomb by six months giving some extra time for miners. However, the developments with PoS transition make it clear that Ethereum miners’ revenue will slowly come down to nil.
ETH 2.0 Fruition Closer with Altair Upgrade Scheduled for October 27
By Steve Muchoki September 29th, 2021
Eth 2.0 is anticipated to deal with mainnet’s low throughput and high transaction fees compared to the upcoming smart contract blockchain dubbed Ethereum killers.
Eden Network Secures $17.4 Million in Seed Funding Round
By Benjamin Godfrey September 9th, 2021
The new funding is billed to be used to develop the Eden Network infrastructure through product research and development.
eToro Records 23 Times Surge in Its Crypto Trading Commissions for Q2 2021
By Bhushan Akolkar August 26th, 2021
Crypto exchange eToro has registered a more than 121% surge in its client base. The company’s total user base by June 30 stood at 23.2 million.
Nearly 32,000 Ethereum Worth $100M Burnt Post EIP-1559 Activation, ETH Price Is at $3,100
By Bhushan Akolkar August 12th, 2021
Ethereum burning goes strong post the EIP-1559 activation last week. Here’s a look into how much it has really impacted the miner revenue.
Ethereum London Hard Fork Was Success, ETH 2.0 Merger Might Follow
By Oluwapelumi Adejumo August 6th, 2021
Yesterday’s activation of the London Hard Fork has heightened the faith of ETH holders in the crypto holders and its founders have set eyes on a new goal, which is the possibility of a merger with ETH 2.0. Vitalik Buterin, a co-founder of the cryptocurrency, made this known following the huge success recorded after the […]
EIP 1559 Upgrade Goes Live as Investors Look to Its Impact on Ethereum (ETH) Price
By Benjamin Godfrey August 5th, 2021
Token burning is gradually becoming a vital phenomenon in the digital currency ecosystem, and it is set to place the Ethereum coin as a deflationary asset.
Hours to Ethereum London Upgrade: ETH Price Shoots to $2700
By Bhushan Akolkar August 5th, 2021
While there’s been all excitement surrounding the EIP-1559 implementation, some independent developers have pointed out some issues with debugging the Ethereum DApps post the upgrade.
One Day to Go for Ethereum London Hard Fork, Excitement Around EIP-1559 Buils
By Bhushan Akolkar August 4th, 2021
With just 24-hours left for the upcoming London hard fork, the ETH community eagerly awaits the exciting changes it will bring to the network.
Pantera Capital: Ethereum Can Outpace Bitcoin with Launch of Ethereum 2.0
By Bhushan Akolkar August 3rd, 2021
The CEO is much bullish on the transition to Ethereum 2.0 Proof-of-Stake (PoS) blockchain along with the rise of the DeFi market.
Ethereum 2.0
Ethereum 2.0 or Eth2 is a massive improvement to the present Ethereum public mainnet. Its primary function is to make Ethereum more attractive to the general public and accelerate its adoption and usage. All these are hinged on a performance upgrade.
Ethereum 2.0, the long-awaited upgrade to Ethereum public main net, is expected to enter the market in 2020. The targeted month is July, however, it’s been speculated that the actual release might be postponed. The Ethereum 2.0 is posed to replace Proof of Work with Proof of Stake as the validators and stake are expected to become the main components of the Proof of Stake system.
A Brief History of Ethereum 2.0
The Ethereum community has been abuzz about the Ethereum 2.0 idea for quite a while now. This idea is all about a shift in the fundamental consensus mechanism of Ethereum in order to find a solution to the restrictions introduced by a Proof of Work blockchain, which has been around since the creation of the blockchain.
The coming of Ethereum 2.0 has more importance attached to it compared to previous upgrades. The main reason for this is because a Proof of Stake consensus mechanism will be implemented to take the network away from the Proof of Work architecture on which it currently operates.
Proof of Stake
Proof of Stake (PoS) is the main focus of Ethereum 2.0 because it changes the way the blockchain is validated with regards to the crypto-economic incentive structure. Presently the architecture of Ethereum is maintained by a Proof of Work (PoW) consensus mechanism. Ethereum 2.0 plans to change that by switching to Proof of Stake which will substitute the two main components of PoW (miners & electricity) with validators and stake. Validators will take the place of miners by overseeing the maintenance of the state of the network and getting rewarded for the random selection of the next block of data. For more details, please check our complete guide on Ethereum 2.0.
Staking in Ethereum 2.0
Staking in Ethereum refers to fixing a particular amount of Ether in a wallet with the aim of getting rewards from partaking in a blockchain process or operation. It is similar to contributing to a course while expecting earnings. Generally, staking is open to anyone who is ready to participate by locking up digital assets in their portfolio. Ethereun 2.0 is basically aimed at re modelling the ethereum blockchain network to better suit new system requirements.
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FAQ on Ethereum 2.0
What is the release date of Ethereum 2.0?
The year 2020 (most likely July with the chance to be postponed to a later date) will witness the official launch of Phase 0 of Ethereum 2.0. Come 2021 the Phase 1 is expected to launch. This will be closely followed by Phase 2 and any additional upgrades in 2021 or afterward.
What is Ethereum Proof of Stake?
Proof of Stake is the better alternative to the Proof of Work consensus on which Ethereum 1.0 currently operates. It brings an upgrade to the scalability and security of the entire Ethereum blockchain. For its smooth running, Proof of Stake will ensure the continuation of blocks on the Ethereum blockchain by relying on validators and staked ETH.
What is Ethereum 2.0 staking?
Enter the ansEthereum 2.0 staking simply refers to participating in the network with a certain amount of Ether (ETH) with the aim of obtaining rewards in return. On Ethereum 2.0, staking involves locking up 32 ETH in a wallet to take part in the operation of the Ethereum blockchain in exchange for benefits.wer in F.A.Q
How do you get rewarded for staking on Ethereum 2.0?
To get rewarded for staking on Ethereum 2.0 you’ll have to be a validator. Your reward as a validator comes when you correctly propose and attest to the next block in the chain. Rewards are made available in ETH for valid proposals and attestations.
How Can I Become a validator for Ethereum 2.0?
With a deposit of 32 ETH into the Ethereum 2.0 network, one can become a validator. The network has provided two ways to do this. The first method of becoming a validator is by running your own validator node and staking ETH yourself. Another option available to you is to engage the services of a staking provider who will help you stake your ETH. The staking providers will offer both custodial and non-custodial staking services. Validators are rewarded with ETH when they validate a block successfully. In the same vein, a validator stands to lose their deposit of 32 ETH if they attempt to compromise the blockchain’s truthful continuation.