Ethereum 2.0 will launch in April
Ethereum (ETH) is not just called digital silver. The well-known crypto asset is becoming increasingly popular, and even against the backdrop of a general market decline, it looks confident. ETH brought a lot to the industry, thanks to this ambitious project many companies were able to launch their own enterprises. Smart contracts are one of the most useful things known today. However, Ethereum does not stop there and is actively striving to improve its own system. The radical update of ETH 2.0 has long been under development, and literally today Vitalik Buterin, creator and leader of the project, announced that the test version of the system will be held in April. We will talk about this in more detail.
Recall what Ethereum 2.0 will give
In fact, a detailed description of all the useful details does not fit in this short article. That is why now we will briefly tell you what exactly the second version of the popular coin will bring:
- Connect a virtual machine. Using a fundamentally new technology will reduce the load on the Ethereum network. Which will make the system even more productive and faster. Now everyone will be able to carry out several translations at once. This is especially useful for large enterprises and for ordinary users;
- Less power consumption. Due to optimization of system algorithms. Ethereum will be less heavy. Blockchain will clear itself of unnecessary fragments and become several times more productive;
- The Proof of Stake algorithm, the transition to which was considered in 2018. They plan to rebuild the coin on a more promising technology. Thus, due to the use of PoS, not only the requirement for a novice miner will be reduced. But also the threat of an attack of 51%. Which is still possible in many popular cryptocurrencies;
The project goes to the final stage. An audit was held the other day, during which specialists representing investors evaluated the second version of cryptocurrency, together with its developers. Security, economics, and cryptographic professionals have highlighted several potential issues that Ethereum is working on right now. It turned out that the mechanism for distributing blocks and P2P transfers turned out to be imperfect, but all the shortcomings are already fixed.
Now on the agenda is the solution to the threat from spam attacks. The network may not be able to withstand a serious DoS strike, but according to Buterin’s statement, the gap is clear and will be resolved soon.
When to wait for the system to start?
If everything goes smoothly, by the end of April of this year, we will be able to get a working beta version of ETH 2.0 in our hands. Each interested developer can independently examine the source code of the system to find potential errors, help the system become better and make money. Yes, Buterin and the coordinator of the second version of Ethereum Danny Ryan promised a generous reward for detecting bugs. Thus, Ethereum 2.0 is not only an interesting project. But also a chance to make money. So if you are a young developer interested in cryptocurrency, carefully wait for the system to start. Analyze the code and find possible errors. All in your hands.
Soon after the launch of the second version of the project, we can expect the creation of a separate platform for trading with ETH and BTC. Buterin has been dreaming of developing such a decentralized exchange for a long time. And we hope that he will succeed.
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