At first, Ethereum is not a cryptocurrency like Bitcoin, which is a mistake for many people
As Ethereum is a major decentralized project that aims to provide many services and smart contracts to users which was released in 2013.
Ethereum aims to create decentralized organizations and is contracted through smart contracts without a third-party regulatory like all traditional transactions.
The development of Ethereum started from 2016 when Ethereum was divided and a new currency called Ether Classic was created.
How to get Ethereum?
You can obtain Ethereum through mining like Bitcoin, which is simply the most important process to maintain an existence
Digital currency.
The Miners group decodes the algorithms of the functions, searches for a new block, and upon accessing and building the block
Miners get a bonus for that.
But why does Ethereum differ from Bitcoin, where analysts view it as coming and aggressively to compete with Bitcoin for the throne.
Bitcoin as a safe, easy and fast payment method for traditional currencies, as for Ethereum, it is more like a financial intermediary or more like
On the executive side to ensure the establishment of security contracts between all parties on the other hand we have 21 million Bitcoins, which makes its price
High, as it is more like gold, for example, in its rarity.
But Ethereum is a renewable currency, and a new quantity is produced every year.
What is Ethereum 2.0?
Ethereum 2.0 is a development of the Ethereum Network differently, which makes everyone expect the success or failure of that experience.
There are dozens of projects that appeared in the world of Crypto, but unfortunately they were unsuccessful, but with a project of a coin the size of Ethereum
It makes everyone wait for different results.
Ethereum 2.0 aims to achieve decentralization to the maximum degree of accuracy and safety, as it will mainly depend on the device used in the process.
That is, it will use your device's resources to complete operations instead of the decentralized network in use that can bear a massive amount of pressure.
This makes us quickly think about the speed of transactions that will take place as the pressure on the main network will be greatly reduced but it should be
These transactions are highly secure so as not to open loopholes for hackers.
How will the Ethereum 2.0 network be created?
As for the establishment of the network, it will take a lot of time as it will go through more than one stage during its growth.
In the beginning, we will witness phase 0, which is the basis for the formation of the Ethereum 2.0 network, as this phase will start with the formation of the second network through auditing
Voting on blocks from all Miners will continue for a while until the network is completely established.
Upon completion of stage 0, we will have two active networks: ETH 1 and ETH 2, and then stage 1 will start where the two networks will be used, but without
Sync which will make it difficult for DAPP platforms as they will have to choose the network and the segment to work on.
In stage 2 the system of work of the two networks will start significantly as CROSSLINKS will occur and the functions will start to work directly and meet together.
Benefits of ETH 2.0?
Everyone looks at this advanced technology process differently as it is a major development in BlockChain technology while the Miners look otherwise
So what will the public benefit from that network in the development stage? Auditors will receive a bonus in addition to the mining reward.
This may attract a lot of Miners to the new network, but nevertheless there are growing concerns about the inflation that may occur as a result of this process.
So in the end, we want to say that the success or failure of this new technology cannot be confirmed or even judged before it is actually launched to the ground.
Image Source
Previous Reviews
Enemy Review - When You Become an Enemy of Yourself
Frostpunk Review - Try To Survive Until The Last Moment
Saw Movies Review - Justice in a Special Way
Thanks
