Type to search

anadolu yakası escort pendik escort maltepe escort ataşehir escort ataşehir escort bostancı escort ümraniye escort maltepe escort
blockchain industry Ethereum News world news

Beacon Chain Ethereum 2.0 Genesis Block Launched

Share

Beacon Chain Ethereum 2.0 Genesis Block Launched

After years of work, the genesis block of the Beacon Chain Ethereum 2.0 network finally saw the light of day.

Beacon Chain

The often-delayed update for scalability and increased security for the second-largest cryptocurrency by market capitalization took its first breath. The launch went smoothly, with which the co-founder of the project Vitalik Buterin congratulated everyone.

At the same time, Vitalik Buterin joked that in the first block there are no significant messages “about giant steps for humanity”, referring to the words of Neil Armstrong, said at the first step on the lunar surface.

Proof-of-Stake Consensus Implementation

beacon chain

The biggest change was the implementation of the Proof-of-Stake consensus. Previously, the blockchain was based on a Proof-of-Work consensus, just like Bitcoin.

PoS will introduce a more energy-efficient method of securing the network by requiring validators to block Ether (ETH) in the staking contract, rather than solving cryptographic puzzles using processing power. The move to PoS paves the way for future planned upgrades such as sharding to improve scalability.

Most likely, ETH will be blocked until the deployment of Ethereum 2.0 phase 1.5, which is currently slated for late 2021 or early 2022. This will lead to the merger of the current Ethereum mainnet with the new Beacon Chain and sharding system.

The anticipation for Eth 2.0’s launch has been building up throughout 2020. It also affected the price of ether, which at the beginning of the year was $ 130, and currently exceeds $ 600.

Read actual crypto news every day on https://news.bitxmi.com/

Join Bitxmi Exchange

Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.

Leave a Comment

Your email address will not be published. Required fields are marked *

WP2Social Auto Publish Powered By : XYZScripts.com
bitcoin
Bitcoin (BTC) $ 49,246.00 2.01%
ethereum
Ethereum (ETH) $ 4,312.55 0.74%
binance-coin
Binance Coin (BNB) $ 591.76 1.47%
tether
Tether (USDT) $ 0.998624 0.02%
solana
Solana (SOL) $ 187.45 0.54%
cardano
Cardano (ADA) $ 1.36 1.22%
usd-coin
USD Coin (USDC) $ 0.999403 0.19%
xrp
XRP (XRP) $ 0.882545 6.45%
polkadot
Polkadot (DOT) $ 28.39 1.90%
terra-luna
Terra (LUNA) $ 73.74 11.34%
dogecoin
Dogecoin (DOGE) $ 0.176961 1.42%
avalanche-2
Avalanche (AVAX) $ 89.47 0.62%
shiba-inu
Shiba Inu (SHIB) $ 0.000037 1.13%
matic-network
Polygon (MATIC) $ 2.28 7.15%
crypto-com-chain
Crypto.com Coin (CRO) $ 0.60562 1.16%
binance-usd
Binance USD (BUSD) $ 1.00 0.24%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 49,215.00 2.20%
litecoin
Litecoin (LTC) $ 158.98 3.24%
algorand
Algorand (ALGO) $ 1.64 1.42%
chainlink
Chainlink (LINK) $ 21.60 3.37%
tron
TRON (TRX) $ 0.091303 1.68%
dai
Dai (DAI) $ 0.998712 0.08%
bitcoin-cash
Bitcoin Cash (BCH) $ 461.57 3.04%
terrausd
TerraUSD (UST) $ 1.00 0.06%
uniswap
Uniswap (UNI) $ 17.25 3.14%
axie-infinity
Axie Infinity (AXS) $ 111.34 0.40%
stellar
Stellar (XLM) $ 0.292348 0.82%
okb
OKB (OKB) $ 26.51 2.74%
cosmos
Cosmos (ATOM) $ 24.19 1.35%
compound-ether
cETH (CETH) $ 86.50 0.44%
staked-ether
Lido Staked Ether (STETH) $ 4,272.36 0.93%
vechain
VeChain (VET) $ 0.091245 1.93%
ftx-token
FTX Token (FTT) $ 42.61 0.07%
elrond-erd-2
Elrond (EGLD) $ 289.29 1.64%
internet-computer
Internet Computer (ICP) $ 30.05 5.01%
filecoin
Filecoin (FIL) $ 39.85 2.82%
near
Near (NEAR) $ 9.24 18.54%
ethereum-classic
Ethereum Classic (ETC) $ 39.63 3.26%
the-sandbox
The Sandbox (SAND) $ 5.52 4.65%
decentraland
Decentraland (MANA) $ 3.76 0.80%
hedera-hashgraph
Hedera (HBAR) $ 0.271387 0.41%
theta-token
Theta Network (THETA) $ 4.69 0.78%
cdai
cDAI (CDAI) $ 0.021779 0.20%
tezos
Tezos (XTZ) $ 5.23 3.12%
gala
Gala (GALA) $ 0.519561 11.29%
fantom
Fantom (FTM) $ 1.52 3.66%
compound-usd-coin
cUSDC (CUSDC) $ 0.02242 0.17%
magic-internet-money
Magic Internet Money (MIM) $ 0.999323 0.47%
monero
Monero (XMR) $ 202.70 3.31%
the-graph
The Graph (GRT) $ 0.729315 3.04%