Recently, the Ethereum team announced that the main network of the Ethereum 2.0 beacon chain will be launched on December 1. The upgrade of Ethereum 2.0 will bring a huge disruption to the entire encryption industry layout and push smart contracts to a new level. , To promote the cryptocurrency market to enter the bull market ahead of schedule. According to data from the BitOffer exchange, since the beginning of 2020, its Ethereum ETF funds have increased by more than 10 times. It can be seen that the market has very high expectations for Ethereum 2.0, and it is expected that ETH will hit $1,000 after it goes online. As the BitOffer Ethereum ETF has added an intelligent position adjustment mechanism, it is bound to rise sharply by then, bringing huge returns to investors.
Ethereum 2.0 is a major upgrade to the current Ethereum main network. It aims to solve the problems of cross-chain and low throughput by replacing the consensus mechanism and sharding technology, so as to reduce the Ethereum network congestion and high transaction costs, thereby improving Ethereum The ecological application capabilities of the Ethereum will push Ethereum to a new height.
Ethereum 2.0 will be carried out in 3 phases, namely Phase 0, Phase 1, and Phase 2.
Phase 0 beacon chain is the core of Ethereum 2.0. It starts to deploy POS consensus algorithm, records the registration information of verifiers, and provides block verification services for the entire 2.0 network, but at this stage, ETH transfer cannot be performed, and it cannot participate in DeFi and Other smart contract activities.
The main improvement in Phase 1 is the realization of shard chains. Sharding divides Ethereum into 64 independent chains (ie, shard chains). These chains run in parallel and achieve seamless interoperability. Simultaneously handle multiple transactions to solve scalability issues. Only when it enters the second stage, Ethereum can perform smart contract functions such as transfers and transactions.
According to the development introduction of the Ethereum team, the most optimistic estimate from stage 0 to stage 1 will take 6 months, and it will take about two years to reach stage 2. Therefore, it will take several years to fully transition from Ethereum 1.0 to 2.0. In other words, only a few years later will the ETH2.0 network truly function like today's ETH1.0 main network.
On November 4, the ETH2.0 technical specification v1.0 was officially released, and the deposit contract address of the main network was also released. According to the content of the agreement, the creation time of Ethereum 2.0 was set at a block height greater than 1606824000, which is UTC Time of December 1st.
However, to start the 2.0 beacon chain mainnet, certain prerequisites need to be met, that is, a minimum deposit of 524288 ETH in the deposit contract is required to activate the protocol (16384 validators). Up to now, the Ethereum 2.0 deposit contract address has deposited a total of 52609 ETH, and the pledge rate has reached 10.03%. If you want to activate the agreement at the specified time and start 2.0 creation, for the next 18 days, Ethereum needs to pledge 26,205 Ethereum to the deposit contract every day.
If in the next time, the amount of pledged Ethereum deposit contracts reaches 524,288, and the 2.0 genesis block protocol is successfully activated, it will undoubtedly push Ethereum to a new level. The successful launch of Ethereum 2.0 will promote the development of DeFi and DEX, speed up the tokenization of WBTC and the amount of Ethereum's lock-up, which will help promote the arrival of the bull market.
On the eve of the bull market, the major benefits of the upcoming launch of Ethereum 2.0 attracted countless users to buy BitOffer's Ethereum ETF Fund (ETH3X for short). It added an intelligent dynamic position adjustment mechanism and fund compound interest calculations, with a minimum return of 3 times and the highest. Up to 17 times, and there is no margin system, there will be no liquidation.
According to BitOffer's data analysis and statistics, the Ethereum ETF fund rose from 5 US dollars in July to a maximum of 28 US dollars, and the price has increased by nearly 6 times. The daily trading volume has exceeded 200 million US dollars to 1 billion US dollars. A record high, reaching more than 100 million. It is believed that this data will continue to be updated after Ethereum 2.0 is officially launched.
According to the market’s forecast of the price trend of Ethereum, the price of Ethereum is expected to exceed USD 1,000 after it is officially launched, which means that it will double 1.5 times on the existing basis. If you spend USD 10,000 and buy Ethereum spot, then the price of Ethereum After the square rises to $1,000, you can earn up to 1.5 times. But buying Ethereum ETF funds (ETH3X) is different. You can earn more than 4 times at least and 25 times at the highest. Obviously investing in Ethereum ETF funds (ETH3X) is the most wise choice.