Hello!
I have been reading about Ethereum 2.0 lately, I didn't know that the launch was planed for this July. The Ethereum blockchain will transition from a PoW (Proof of Work) consensus mechanism where miners solve computational operations to receive rewards into a PoS (Proof of Stake) consensus algorithm similar to the one we have on HIVE.
In the PoS blockchains the creator of the next block is chosen via consensus. Another benefit of using a PoS consensus system is that it is more energy efficient than the PoW. In addition, the network become more secure as it solves the 51% attack vulnerability of the PoW systems.
This are really good news for the Ethereum HODLers and for the cryptoshpere. It is really nice to see new developments in the TOP cryptocurrencies by market cap, specially if they are on the direction of solving vulnerability issues and making protocols more energy-efficient and more scalable.
Vitalik Buterin confirmed that the tesnet of Ethereum 2.0 was already live and some developers are already testing it. The Launch date will be approximately in July. This date has been postponed before but this time seems that the first stages of implemantation are already done and this is a really possible final date.
Moreover, there are other phases of this new implementation stated in the Ethereum long-term roadmap. This other phases will include new scaling solutions that will help in the adoption of Ethereum.
One of the main characteristics of the PoS consensus mechanisms is that they allow the "stacking" to its users. With the funds stacked and locked for a certain time, the users can participate in the distribution of the new created coins.
You must have at least 32 ETH to participate in the stacking, however there will possibly be some third parties that will allow the users that have less than 32 ETH to delegate and participate in the stacking distribution for a fee.
Enjoy! 😊
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I leave a link to my Twitter Post to show #ProofOfShare - #posh
https://twitter.com/ResilienciaHODL/status/1260294398325260294?s=20
- ResilienciaHODL
