Ethereum 2.0 Promises A New Era
coinputin.com – The first phase of an Ethereum blockchain upgrade, which has been studied for years, has begun. Beacon chain for Ethereum 2.0 allows investors in the second largest cryptocurrency to share their cryptocurrency and earn rewards for strengthening the network.
According to Vitalik Buterin, the creator of Ethereum, ETH 2.0 promises to greatly increase the amount of trading volume that the network can process using second-layer solutions, with a long-term goal of 100,000 transactions per second. The “Phase 0” launch of Ethereum 2.0 was launched yesterday after Ethereum owners submitted the required 524,288 ETH to the deposit contract.
Transition to Stage 1 could take 1 year
Ethereum holders who have at least 32 ETH can deposit their coins, but their investment will remain locked until Stage 1 occurs, which could take a year or more.
Crypto platforms have already begun to step in to facilitate the staking process. Coinbase has announced that it will allow users to easily convert their ETS to the new beacon chain and share their money on the exchange. In addition, Kucoin, Binance and Huobi have also announced that they will support ETH 2.0.
The price of ETH rose in the weeks leading up to the launch. According to CoinMarketCap, ETH was trading at $ 588, the drop it had experienced in the past 24 hours at the time of publication.