Free ETH money transfers coming soon
One of the most popular cryptocurrency platforms, Ethereum, is actively developing in anticipation of a new update. Soon, the creators of the coin plan to switch to the second version of the Blockchain. But still continue to improve the first version of the crypto. In the near future – the creation of free transfers that will make it easier to transfer funds even to novice users. Next, we will talk about everything related to free money transfers. So that after reading, you will receive all the necessary information. Read carefully. The material requires a responsible approach. So let’s get started.
A small theoretical background
It should begin with a description of some basic points. For those who, for some reason, have not worked with Ethereum, let’s say that translations in the system are paid. Any transaction is subject to a small fee. However, for novice users, even small margins can hit the pocketbook. Imagine that in order to transfer $ 1, you need to pay another 50 cents on top. This is inconvenient. It is a relic of the past that has been reaching for Ethereum for the past 5 years. Yes, a young platform, 5 years ago, this function was required in order to somehow get money for the development of the project. But today, when Ethereum is a multi-million dollar company, transactions should be free. This is the statement made by the network developers who promised to introduce this function in the current version of the protocol. Most likely, money transfers will become free even before moving to the second phase of the system.
Recall that the launch of the second version of ETH is planned for the fifth anniversary of the project – July 30. Now the project is undergoing final refinements. The creators are actively testing the system in order to be in time for the appointed date. However, there is still time to improve the use of the current version of the system.
How will money transfers work?
It is worthwhile to understand that Ethereum is a complex and holistic syste. It will not change if you just change one line of code. In order for the reduced money transfers cost not to affect the platform performance in any way, the creators introduced a new concept. The development of Synthetix Exchange, tested on a virtual machine, allowed not only to reduce the cost of transactions. But also to accelerate the process of processing money transfers. Now the dispatch of funds has become several times faster. So that everyone can enjoy the stable and speedy operation of the system. According to the most conservative estimates, the innovation will allow for several thousand transactions in one second. Now the maximum system throughput is only 20 transfers. This is another relic of the past. Which is actively being developed and improved by attentive programmers from the ETH team.
Serious companies allocated funds to support the new translation scheme. And ordinary users were satisfied with the update. Statistics show that in anticipation of the transition to the second version of Blockchain, Ethereum has collected a record number of users. The news buzz surrounding the update has led many to discover the wonderful ETH token. Which will be supported even after switching to the second version. The developers note that the original Ethereum still has the potential for scaling and can develop along with the second version of the coin.
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