On November 4, local time, the Ethereum Foundation published a blog report that if certain conditions are met, the first version of Ethereum 2.0 will be published on December 1 this year. The blockchain upgrade has made the network develop in the direction of a consensus mechanism for proof of rights. Ethernet owners are not constantly mining the blockchain as they do now, but can release their ether coins to run the network.
The rule for when Ethereum 2.0 will start is a certain number of validators. If there are 16,384 validators on the Internet, it will start at 12 PM UTC on December 1st. Each validator needs to bet on 32 Ethereum squares, which are currently worth approximately US$12,700, and the total amount is approximately US$209 million.
The specific conditions announced by Ethereum 2.0.
Let's move to the application area. There are now more than 32 people with Ethereum in the wallet, and it has become popular recently. 32 is the magic number to have your own Ethereum node when you started Ethereum 2.0.
Why should we care about these now? We have been talking about Ethereum 2.0 for many years. In recent years, we have also seen the transition from Ethereum Square to Ethereum Square 2.0, proceeding in stages...
We have written this extensively, and research can be found through our previously published articles. But Ethereum will convert from work certificates to equity certificates. The certificate of equity means that transactions should be faster and cheaper. This means that Ethereum should be able to fully develop and start to compete with some of the projects that we have. These projects were built to compete with Ethereum. This was done a few weeks ago when it was slowly expensive, right? Ethernet Square 2.0 is coming soon. More than 16,000 validators signed, including more than 100,000 people, each owning 32 Ethereum ponds. This will be a constantly changing goal. At the same time, there are many ways to solve less than 32 Ethereum. There are already several ponds, even if there are less than 32 ethers, you can participate.
I know some are very legal, they work for this and tested it for a while. Like Harmony and Cosmos, it can be used with other verification programs. Ethereum comes with this function, but it is not used to it yet. Therefore, what we are waiting for is that 16,000 validators submit their 32 ethereums, making ethereums worth more than $10,000 into smart contracts. Once this happens, I believe that once December 1st has passed, the smart association will be activated. Therefore, even if smart contracts appear, there are many assumptions. But at least this is good news, because it means that Ethernet 2.0 is about to come out.
Ethereum 2.0VSCosmos and Harmony.
We have been responsible for this for some time. It should reduce the cost of transactions, concentration, mortgages, token changes, purchases and sales, and reduce the cost of transactions with Ethereum. This does mean that Ethereum will compete with Harmony and Cosmos, but it is good for the entire industry ecosystem.
Please keep in mind that the difference between Ethereum and Harmony and Cosmos is that Ethereum only has Ethereum.
The other blockchains we research and analyze are interactive. In other words, in addition to the Ethereum token, other tokens can also be exchanged.
Therefore, even if Ethereum catches up with this step in terms of sharding and speed and cheapness, Ethereum cannot be directly compared with other currencies in our solution.
As a person who has mined Ethereum a long time ago, my own miner, and a person who made a profit on the Ethereum, I have waited a long time. I think this is important news. In the long run, for the entire industry, the emergence of Ethernet Square 2.0 may expand the industry even more, and look forward to the positive changes it will bring.
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