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Ethereum (ETH) 2.0 Core Mechanism Right Around the Corner, Project Lead Says

News
Wed, 06/03/2020 - 14:05
Vladislav Sopov
While Ethereum (ETH) 2.0 inches closer to its roll-up, the design of PoS is getting clearer. EF team lead Danny Ryan has published a comprehensive ETH2 progress review
Ethereum (ETH) 2.0 Core Mechanism Right Around the Corner, Project Lead Says
Cover image via stock.adobe.com
Contents

Danny Ryan, one of the most influential contributors to the Ethereum (ETH) 2.0 progress, has written a longread to outline all of the milestones achieved by ETH2 so far - and all points of its further agenda.

Ethereum 2.0 is still Ethereum

The text covers all of the aspects of the development progress made by Ethereum 2.0 and all of the challenges it faces. First of all, Mr. Ryan emphasized that Ethereum (ETH) 2.0 is built on Ethereum, thus, traces its history back to 2014.

Danny Ryan comes up with his point of view on Ethereum 2.0
Image via Twitter

Mr. Ryan highlighted the nature of every stage of the Ethereum (ETH) 2.0 roll-out. Phase 0 or Beacon Chain will build the infrastructure for numerous validators. Phase 1 will be responsible for sharding design. The whole ETH1 network will be integrated into it as a single shard during Phase 1.5. Phase 2 will finalize the update of the Ethereum state. However, Mr.Ryan admitted that at the moment it is still a 'hot bed of research and prototyping'.

Each stage of ETH2 creation brings a plethora of opportunities to Ethereum (ETH) enthusiasts. Mr. Ryan is inviting all of them to participate in the staking process and to test the network performance in stages 1 and 1.5.

A large number of validators and shards, as well as a broad diversity of clients, reveal big challenges for ETH2 development, but this sophisticated environment guarantees technical advance and an unmatched level of decentralization.

Where are we now?

Mr. Ryan has also reviewed all of the active infrastructure associated with Ethereum (ETH) 2.0 right now. Firstly, it is a wide range of clients, namely cortex, lighthouse, lodestar, nimbus, pryzm, teku, and trinity. Mr. Ryan strongly recommended trying multiple clients, especially - the minor implementations.

Regarding the topic of testnets, Mr. Ryan mentioned the operations of the Witti multi-client testnet running v0.11 specifications. As U.Today Crypto News previously reported, this testnet was launched by Afri Shoedon shortly after the previous Schlesi testnet environment forked. 

Furthermore, Mr. Ryan revealed the rest of the Ethereum (ETH) 2.0 instruments released so far: network tools, API schemes, keystores, wallets and slashing detectors.

In conclusion, he emphasized the huge progress behind the ETH2 team and community. According to Mr. Ryan:

The path we’ve chosen is difficult, but immense progress has and continues to be made.The core of this new mechanism is just around the corner.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director

News
Mon, 07/13/2020 - 14:38
Vladislav Sopov
John Lilic, managing director at ConsenSys decentralized development studio, has shared an over-bullish prediction for Ethereum (ETH) progress
Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director
Cover image via stock.adobe.com
Contents

John Lilic leads international business development in the ConsenSys leading blockchain development studio. He is also an expert in energy markets and cryptocurrency segments. He tracked the progress of Bitcoin's (BTC) and Ethereum's (ETH) market capitalization statistics, coming up with an extravagant prediction.

Bitcoin (BTC) should get ready for parity

Mr. Lilic outlined that Ethereum (ETH) is showcasing much healthier dynamics than its competitor is. For instance, the flagship cryptocurrency still surpasses Ethereum (ETH) by 6.3x in terms of market capitalization, while simultaneously collecting 20% fewer fees than Ethereum (ETH).

John Lilic of ConSensys foresees parity of Bitcoin (BTC) and Ethereum (ETH) market capitalizations
Image via Twitter

Also, Ethereum (ETH) is demonstrating much more impressive price dynamics this year. It gained almost 37% against Bitcoin (BTC) in 2020. That said, Ethereum (ETH) looks severely undervalued to the top manager of ConsenSys.

However, Ether is on the path to eliminating this discrepancy. Eventually, the top two cryptocurrencies may reach market capitalization parity, concludes Mr. Lilic.

Related Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains
Related
Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains

As covered by U.Today Crypto News recently, Coinmetrics on-chain research team called Bitcoin (BTC) and Ethereum (ETH) the unique crypto behemoths that have managed to recover from Black Thursday.

Bitcoin (BTC) is losing supremacy in "fee race"

Should Ethereum (ETH) overcome its undervaluation, its price may be over $1,550 based on liquid supply and current Bitcoin (BTC) market capitalization.

Recently, it was unveiled that Ethereum (ETH) blockchain continues to surpass Bitcoin (BTC) in terms of network fees for more than 30 days in a row. Ethereum (ETH) is seeing this advantage for the first time in its history.

As U.Today Crypto News reported previously, ex-Messari analyst and angel investor Qiao Wang identifies two main catalysts of Ethereum's (ETH) price run in the mid-term perspective.

Related Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang
Related
Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang

According to Wang, the upcoming rally may be fueled by a long-awaited transition to Proof of Stake and fixing the monetary policy of Ether token.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)