Sunday, June 16, 2024

Despite tomorrow’s Ethereum upgrade postponing the difficulty bomb, Coinbase introduces ‘ETH2.’

Firstly we’d like to say that it is not a new coin, but ETH2 did appear on many exchanges recently. It is the prep for Ethereum’s new transition to the new proof of stake.

This is a mirrored variant of the ETH coin, which was upgraded on December 10th. It was a new network upgrade just after the ETH2 appeared. It has been mirroring ETH’s market data and has the same circulating supply, market capitalization, and volume as the existing one. As of now, all the changes in price were also the same.

Dubbed the “ETH2” the new coin was seen to track all the original Ether data that was on the market. For example, the cost of ETH2 and ETH was synonymous but had zero trading activity or popularity score data. As of now, ETH2 will track ETH till mid-2022.

Ethereum has been working on an updated version which they have been calling Ethereum 2.0. It is supposed to be launched in June 2022, and this is an offset of that change.

In its current version, every transaction needs to be validated in the public ledger. But in the 2.0 upgrade, they will divide the network into various shards, and the process is known as sharding. These shards will have randomly assigned nodes and will make the blockchain faster and more efficient than ever.

If you have been planning to get in on these new-age technologies, right now is the best time to do so. They are continuously evolving and being an early adopter will be in your favor in the future.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
RELATED ARTICLES

Most Popular