What is Ethereum ?
Ethereum coins are most actively exchanging on various markets. Ethereum is the most popular coin after Bitcoin, making it a prevalent and stable currency in the crypto market. There are various markets where the trading of ETC coins are actively happening. Such markets are Huobi Global, Coinbase Pro, Kraken, Binance, OKEx and many more.
It is a distributed blockchain computing platform for decentralized applications and smart contracts. Moreover, Ethereum’s native token is ETHER (ETH). ETH users can pay for their transaction fees and keep ETH as collateral against borrowing ERC 20 tokens from the DeFi market.
Ethereum is establishing the concept of a blockchain innovative contract platform. Moreover, the ETH smart contract is a type of computer program which automatically execute the needful actions to achieve an agreement between various parties on the internet.
Furthermore, the contracts decrease the requirement for intermediaries between contractors to eliminate the transaction fees and improve transaction reliability.
The ETH platform uses a unique design of blockchain that allows the execution of smart contracts. Moreover, it also strengthens the benefits of innovative contract technology. Additionally, other than smart contracts, Ethereum’s blockchain can host other cryptocurrencies popular as “tokens,” by applying its ERC-20 compatibility standard.
What is Ethereum 2.0?
Ethereum platform is launching its new version the Ethereum 2.0. This upgrade primary focuses on three major sectors i.e. security, scalability, and decentralization.
Moreover, the users are finding Ethereum’s smart contracts as highly scalable however it compromises on decentralization. On the other hand, a highly secured and decentralized blockchain network would have the trade off being highly un-scalable.
Ethereum 2.0 is a uniquely different design that addresses various issues using Proof-of-Stake (POS), Beacon Chain, Sharding, and Execution Environment. However, because of the complexity of the project, the development will take place in 3 phases.