Ethereum 2.0 comes out on August 4th
Ethereum is one of the most progressive cryptocurrencies that has already achieved great success. However, the creators of the coin do not stop there, actively developing their own project. At the moment, the main update is the launch of the second version of the coin. Ethereum 2.0 has been in development for a long time, and most likely, the preliminary launch of the test system will take place this summer. Next, we will tell you everything that is known about the upcoming project at the moment. So let’s get started.
What the developers say
Not many people know, but it is not Vitalik Buterin who is responsible for creating the second version of digital silver, but Danny Ryne. This is a well-known developer who is famous far beyond the Ethereum team. So the words of this specialist can be safely trusted. Based on Ryan’s assurances, the project is currently in its final stages of development. Such a large system must first be tested, run through dozens of tests. What the creators are doing successfully.
The last test of the test version of ETH 2.0 will take place literally two weeks later, that is, on August 4. It should be noted that this is not a full-fledged start of the project. The final test only means that the system is at a sufficient level of readiness. Sufficient to launch in November. According to preliminary information, from August to November the company will be engaged in debugging the embedded tools.
For example, on August 4, from 1 pm to 2 pm, it is planned to introduce functionality that will help transfer tokens for educational purposes. Yes, Ethereum 2.0 is a more global platform than a regular digital currency. You need to understand this, and boldly use the technical potential provided by the company. For your convenience, below are collected all the fundamental differences of the second version of the coin from its predecessor. These subtleties will also be refined and improved on August 4.
ETH 2.0 advantages
Further – only the main characteristics of the second version of ETH, which favorably distinguish the project against the background of competitors:
- No Proof-of-Work. This is an outdated algorithm that forces you to spend tens of thousands of dollars to fully unleash the potential of the coin. But this will not happen anymore. Now, thanks to the use of Proof-of-Stake, you can multiply your net worth by simply investing in a coin. The one who has invested more gets more savings. Everything is fair;
- Staking is fully implemented. Staking is a trend in the modern crypto industry. Thanks to special algorithms, now, even without working with crypto at all, you can increase your own capital. It is enough to buy coins only once, make capital on wallets and not touch the funds. For such storage of currency, you will receive passive income. A system similar to banking will soon appear in ETH 2.0;
- Sharding will take Ethereum throughput to a whole new level. So far, the system is forced to work on one line, but the introduction of sharding will add several additional branches, each of which will be able to process transactions safely;
So, now you know everything there is to know in anticipation of the launch of the second version of Ethereum. We have no doubt that this project will transform the entire crypto industry. So, in order not to miss the start of development, stay with us. We publish only relevant and interesting news from the world of cryptocurrencies and technologies. Thanks for your attention. Good luck!