July 23rd, 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 London Hard Fork Gets New August Date
By Oluwapelumi Adejumo July 5th, 2021
As people look out for the long-expected hardfork with the EIP-1559 upgrade for ETH at the end of the week, there is every possibility that it could be postponed.
Ethereum 2.0 Could Create $40B Staking Industry by 2025, Says JPMorgan
By Kofi Ansah July 2nd, 2021
The analysts project staking yields across the blockchain industry to double again to $40 billion by 2025 after the next phase of the energy-efficient Ethereum 2.0 is unveiled.
Cardano Founder Wants Elon Musk’s Tesla to Start Accepting ADA Crypto
By Bhushan Akolkar June 18th, 2021
Charles Hoskinson said that if Tesla really cares about sustainability, it should consider ADA over BTC.
Banking Institutions Showing Major Interest in Ethereum 2.0 Staking
By Bhushan Akolkar June 17th, 2021
Institutional participants for Ethereum 2.0 staking have started showing major interest even before the launch of the mainnet. Banking giants have started seeing the huge potential with staking services on the Ethereum blockchain network.
Is Rise of BSC Sustainable?
By Julia Sakovich May 28th, 2021
The rise of competition, lack of decentralization, and legal scrutiny can hamper the rise of Binance Smart Chain.
Ethereum 2.0 First Upgrade Altair Is Coming: Key Notes for Validators
By Benjamin Godfrey May 21st, 2021
The Altair upgrade will seek to return the original strictness into the new Ethereum protocol.
Casper Network (CSPR) Token Launches on Multiple Exchanges, Meets Extreme Volatility
By Benjamin Godfrey May 11th, 2021
As observed on various Casper’s social media channels, there is a mixed feeling in the community following the Casper token launch.
Ethereum (ETH) Crosses $2,500 to Set New ATH after Successful Berlin Hard Fork
By John Kiguru April 16th, 2021
Ethereum (ETH) for the first time in its history climbed above $2,500 on Thursday. This came in the wake of the network’s latest network upgrade – the Berlin hard fork.
Vitalik Buterin Says Rollups Will Scale Ethereum 100X in Coming Weeks
By Steve Muchoki March 10th, 2021
According to Buterin, the proposed rollups are not a new thing and will hold until Ethereum 2.0 is fully launched.
Ethereum Releases Timeline for Berlin Upgrade, Scheduled to Go Live on April 14
By Bhushan Akolkar March 10th, 2021
Before releasing the Berlin upgrade on April 14, there will be three major testnet releases in the coming weeks. The Berlin upgrade will also bring along four major Ethereum Improvement Protocols (EIPs) with new transaction types and gas costs.
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.
