Site Team

1 month ago

Ethereum blockchain is on the right track towards releasing its next network upgrade, Istanbul. It might come out during the upcoming months. Besides, Ethereum 2.0, Serenity, might launch in early 2020. We'll soon talk about what that would mean for the blockchain as well as for Ethereum (ETH).

Ethereum 2.0 – Upgrade from Proof-of-Work to Proof-of-Stake and more

As mentioned, Etherum 2.0 means the movement of the network from Proof-of-Work to Proof-of-Stake. Besides, it would also bring sharding and eWASM, a new virtual machine.

During the Ethereal Tel Aviv 2019 conference, Vitalik Buterin talked about this upgrade. He said that the changes that Ethereum 2.0 would bring would be in the same lines as those introduced via Ethereum 1.0.

“Ethereum 2.0 is basically the updated attempt to realize the same vision. It’s basically taking all of these ideas and values of open, permissionless networks where anyone can participate and decentralized collaboration and trying to expand them to go beyond just one application, like money,” said Buterin.

Joseph Lubin added that the Ethereum 2.0 rollout would take place in three stages:

  • Phase 0: Beacon Chain
  • Phase 1: Shard Chains
  • Phase 2: Execution Layer

What would Ethereum 2.0 mean for Ethereum (ETH)?

At this moment, Ethereum (ETH) trades at about 219 USD, surging by about 5 percent in the last 24 hours. The ETH is the second crypto in the cryptocurrency market, by market cap, totaling $23,598,000,308.

Usually, each upgrade implemented over the blockchain of a digital coin could benefit the respective crypto or not. In the case of Ethereum 2.0 update which would come in early 2020, it will bring some new features, allowing smoother participation of the users on the network.

In case everything works alright in the background, along with the new Proof-of-Stake definition of the Ethereum blockchain, Ethereum (ETH) might experience more stability and even a slight surge. But that remains to be seen once the Ethereum 2.0 launches in early 2020.

People Mentioned

Justin Sun

Founder of TRON (TRX)

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Justin Sun

Founder of TRON (TRX)

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Justin Sun

Founder of TRON (TRX)

Justin Sun

Founder of TRON (TRX)

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