January 19th, 2022
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.
Vitalik Buterin Talks about What’s Ahead for Ethereum 2.0 in 2022
By Bhushan Akolkar January 5th, 2022
The launch is Ethereum 2.0 is likely to happen this year by Q1/Q2 2022 as founder Vitalik Buterin weighs key developments ahead in line for the complete transition.
Ethereum Foundation Launches Kintsugi Testnet as It Prepares for Ethereum 2.0 Merge
By Bhushan Akolkar December 21st, 2021
Ethereum core developer Tim Beko has invited projects to start testing on Kintsugi so that they can implement changes soon in the future client.
Ethereum Co-founder Vitalik Buterin Puts Light on Endgame Roadmap for ETH 2.0
By Bhushan Akolkar December 7th, 2021
In his recent blog post, Buterin talks about attaining network scalability while assuring high standards for trustlessness and censorship resistance. He also puts forward a roll-up-centric roadmap for ETH block production.
Binance Onboards Arbitrum One to Open Layer-2 ETH Deposits
By Tolu Ajiboye November 19th, 2021
The Binance integration of Arbitrum One provides a veritable alternative for depositing ERC-20 tokens, making the process cheaper for users.
Ethereum 2.0 Beacon Chain Successfully Undergoes Altair Upgrade, Buterin Praises Layer 2 Solutions
By Bhushan Akolkar October 28th, 2021
The Ethereum 2.0 Beacon chain successfully conducted the Altair upgrade with uninterrupted finality. Ethereum founder Vitalik Buterin praised the Layer 2 scalable solutions on the Ethereum platform.
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 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.