Tag Archives: ethereum 2.0

Ethereum co-founder, Vitalik Buterin, recently posted on the progress being made on the interoperability between the two Ethereum chains. Serenity will usher in a completely new blockchain for the platform, but there will be a transition period when both the new and the old will need to work together.Work on “the eth1 -> eth2 merge” is already happening. https://t.co/TfErDqcc9B— vitalik.eth (@VitalikButerin) July 23, 2020The original tweet was posted by lead developer Danny Ryan, however,...

Ethereum co-founder Vitalik Buterin admitted in a tweet that the higher transaction fee on the second-largest blockchain network is opening the door to security risks. However, he said that the fee market reform EIP 1559 will solve this.Higher Transactions Fees Vs. Block Reward Encourage Malicious MiningIn a recent tweet, Buterin said that the transaction fee revenue had got closer to 50% of the block reward revenue on Ethereum.Transaction fee revenue is now nearing half as high as block...

Proof of Work, a consensus mechanism, has proved to be the backbone of some of the leading and widely-adopted blockchain networks. These include Ethereum, Litecoin, and, of course, Bitcoin.Many from the blockchain industry have wondered how come Proof of Work (PoW) remained so resilient over all these years. Some are even baffled by its resilience as it has withstood a long list of challenges like growth, performance, and security issues over the years.Key Takeaways From 5 Years of PoWThe...

Phase 0 of Ethereum 2.0 has been running full nodes on the Topaz testnet for months. However, the first block on the highly anticipated Beacon Chain has been mined and validated in mid-April. The first testnet was called Sapphire, and it was a scaled-down version that successfully tested smaller 3.2 ETH deposits.Topaz went live with testing full 32 ETH nodes in May, and the Onyx testnet was launched in mid-June. According to Prysmatic Labs, who have been conducting a lot of the testing, Onyx...

The highly anticipated upgrade from ETH 1.0 to ETH 2.0 has been in the pipeline for a couple of years now. The initial phase, Beacon Chain, has been running full nodes on testnet since May, and staking rewards are being paid out to validators testing the new platform.The mainnet launch is unlikely to happen until later this year at best or even early 2021. A recent report has taken a deep dive into the economics of ETH 2.0, and it appears that many holders of the world’s second-largest...

Mit Spannung erwartet die Ethereum-Community das langersehnte Upgrade Ethereum 2.0, genannt Serenity. Wann es nun kommt, darüber herrscht unter den Ethereum-Entwicklern Uneinigkeit. Laut Justin Drake ist ein Start Anfang Januar 2021 möglich, während Vitalik Buterin an 2020 festhält. We made Eth2 hard for ourselves: * many design iterations* many community clients vs one EF-led client* libp2p vs devp2p; BLS12-381 vs BN254 We could have launched a year or two earlier the easy...

There is no doubt that the hottest thing in the crypto industry at the moment is decentralized finance. However, Ethereum as its foundation still hasn’t caught up.Another day has heralded another all-time high for the total dollar value of collateral locked up in DeFi markets. That milestone has just hit $2.15 billion as more investors lock up their crypto, according to Defipulse.com.The Year of Decentralized Finance (DeFi)In less than a month, the amount of collateral locked into smart...

Median transaction fees on Ethereum just hit their highest point in almost two years, as the network struggles under heavy congestion.Meanwhile, Ethereum creator Vitalik Buterin confirmed on June 30 that the network would have to make do with current off-chain scaling solutions for the next two years. That’s until the planned scaling capabilities of Ethereum 2.0 are finally brought to fruition.Ethereum Median Transaction Fees SpikeIn the 48 hours leading up to June 30, the median transaction...

Ethereum’s hash rate has increased by nearly 30% since the start of 2020 to the current levels of 187,369 GH/s suggesting that miners are becoming more involved before the impending launch of Ethereum 2.0.ETH Hash Rate Rises In 2020According to data from Etherscan, ETH’s hash rate started the year at approximately 147,405 GH/s. Almost immediately it increased by 10%, and since then it has continued with the same positive trend. At the time of this writing, the hash rate is at 187,369 GH/s,...

Bitcoin has been doing relatively well, as of late. The world’s number one cryptocurrency by market has surged beyond $9,500 for the first time in well over a week, and the bullish train its riding doesn’t appear to be running out of steam anytime soon. However, bitcoin’s recent gains don’t even compare to the run Ethereum is enjoying.Ethereum: Today’s Crypto King?ETH is the second-largest cryptocurrency by market cap and the number one competitor to bitcoin. At the time of writing, one unit...