Home Coins Ethereum (ETH) Ethereum 2.0 transition is approaching, Serenity Phase 0 proposal submitted

Ethereum 2.0 transition is approaching, Serenity Phase 0 proposal submitted


The long-awaited transition to Ethereum 2.0 is finally approaching.

Danny Ryan, a core developer at the Ethereum Foundation, has today officially submitted a proposal, for moving the Ethereum blockchain to a proof-of-stake (PoS) consensus mechanism from the current proof-of-work (PoW) algorithm.

The proposal, once approved by Ethereum core developers, will see the rollout of Serenity Phase 0 or the Beacon Chain that will mark the execution of PoS. It is expected to go live later this year or early next year.

The Beacon Chain will be introduced with the concept of sharding, which will solve the scalability problem of Ethereum without compromising the network’s security and decentralized nature.

Phase 0 is just the first step in a multi-stage rollout of Ethereum 2.0. The other phases are expected to run at least until 2021. Overall, Ethereum 2.0 is being developed to improve the blockchain’s “simplicity, resilience, longevity, security, and decentralization.”

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.



Source link

Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
474FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,579FollowersFollow
2,230SubscribersSubscribe
USD - United States Dollar
EUR
1.19
GBP
1.30
CHF
1.10
NOK
0.11
JPY
0.01
CAD
0.76
AUD
0.73

Most Popular

South Korean Police Seize Shares From Major Bithumb Shareholder

South Korean police have seized shares in Bithumb, the country’s biggest crypto exchange. The shares belong to Bithumb Korea director and major...

ERC-20 token’s market cap overtakes Ethereum’s

The latest findings by Santiment, published in Cointelegraph Consulting’s biweekly newsletter, suggest that Ethereum is temporarily being ‘professionalized’. Since the September 2nd market crash, the...

GPU Manufacturer Nvidia Buys Chip Maker ARM for $40 Billion

California-based Nvidia is buying British computer chip designer Arm Holdings from Softbank Group Corp. in a deal worth $40 billion.Nvidia, which specializes in...

Timers’ Ongoing IPM Presale Will Help Tackle Challenges of the Next Industrial Revolution

For the first time in history, a human’s intrinsic ‘time value’ is being used as a currency for trading, as IPM is...
bitcoin
Bitcoin (BTC) $ 10,976.62
ethereum
Ethereum (ETH) $ 386.10
ripple
XRP (XRP) $ 0.253811
tether
Tether (USDT) $ 0.999299
bitcoin-cash
Bitcoin Cash (BCH) $ 236.54
bitcoin-cash-sv
Bitcoin SV (BSV) $ 163.59
litecoin
Litecoin (LTC) $ 48.81
eos
EOS (EOS) $ 2.74
binancecoin
Binance Coin (BNB) $ 28.19
okb
OKB (OKB) $ 6.20
tezos
Tezos (XTZ) $ 2.51
leo-token
LEO Token (LEO) $ 1.19
cardano
Cardano (ADA) $ 0.093375
monero
Monero (XMR) $ 93.65
stellar
Stellar (XLM) $ 0.079783
chainlink
Chainlink (LINK) $ 10.86
huobi-token
Huobi Token (HT) $ 4.88
tron
TRON (TRX) $ 0.029403
usd-coin
USD Coin (USDC) $ 1.00
dash
Dash (DASH) $ 73.24
neo
NEO (NEO) $ 25.21
iota
IOTA (MIOTA) $ 0.276727
nem
NEM (XEM) $ 0.104034
zcash
Zcash (ZEC) $ 59.29
maker
Maker (MKR) $ 498.39
paxos-standard
Paxos Standard (PAX) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 5.19
vechain
VeChain (VET) $ 0.014188
true-usd
TrueUSD (TUSD) $ 0.999454
ftx-token
FTX Token (FTT) $ 3.92
kucoin-shares
KuCoin Shares (KCS) $ 1.20
waves
Waves (WAVES) $ 2.50