Ethereum has successfully launched its first pre-release zero phases towards the Ethereum 2.0 according to a published post on GitHub and we are excited to find out how it went in today’s ethereum news.
The first release is just one in a series of weekly releases that will continue to go on through February and according to the post ‘’Phase 0 in v0.1 is relatively feature complete and approaching stable.’’
Ethereum 2.0 is known as Serenity and it is planned to be the final upgrade to the network since the entire network switches from a proof-of-work protocol to a proof-of-stake consensus algorithm and hopes to solve fundamental issues such as security, scalability and economic finality.
Serenity is the first of the four stages that are set out in the roadmap of the platform. Currently, the network is in its third stage that consists of two hard forks- Byzantium and Constantinople both of which aim to create a clear track for Ethereum 2.0.
There are other PoS solutions that are planned for Ethereum 2.0 such as the sharding scalability featured that aims to split transactions between smaller groups of nodes in order to increase the speed of the network and the blockchain’s throughput.
After the first pre-release, another testnet known as the ‘’Gorli’’ will serve as a trial key sharding client known as Prysm especially meant for Serenity. The testnet is a simulated version of how the primary network will look like and they are able to try smart contracts without having to pay fees for their execution.
Craig Wright Calls Out Ethereum For Being Unable To Scale
“This network has already hit its limit and is effectively only being used to raise capital using illegal bucket shops that are designed in such a way that they can deceive nontechnical parties,” wrote Wright. “No technology released within Ethereum for the provision of computation or ICOs has been created that did not exist prior and in a more effective manner before this network was launched.”This isn’t the first time Craig Wright attacks Ethereum but Vitalik Buterin has also attacked Wright calling him a ‘’fraud.’’
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Ethereum Price Increases By 13% Overnight, Is The Market In For Recovery?
“We’ve had some bullish moves on ETH, BTC, and altcoins over the last 2 weeks. Is the bear market over? Maybe, the fact of the matter is we are going up. Traders must see PA for what it is and can change bias quickly. If you have been stuck with a bearish lense you are missing out.’’Over the past few months, Bitcoin and the other cryptocurrencies show similar movements. BTC showed weeks of stability but it later plunged by 10 percent. However, the current stability is not a guarantee for improved future performance. The crypto market shows a period of stability for the past couple of weeks. Ethereum made gains during today’s trading session. After the 12 percent surge in the price of ETH, crypto trader DonAlt said:
“Well, this is a proper moon. Not a big liquid spike but rather a nice controlled walk up. Didn’t expect quite this much action into the weekend but I’m not complaining. ETH as the top gainer on BitMEX. Right at resistance here – will be interesting if it can break through or not.”
Ethereum Rises 13% Overnight, Crypto Market Is Ready For A Recovery
“We’ve had some bullish moves on ETH, BTC, and altcoins over the last 2 weeks. Is the bear market over? Maybe, the fact of the matter is we are going up. Traders must see PA for what it is and can change bias quickly. If you have been stuck with a bearish lense you are missing out.”Over the past several months, Bitcoin and the rest of the market have shown similar price patterns. However, because the market had experienced extended periods of low volatility in the past few months, many traders expected the trend to continue. According to the cryptocurrency analyst DonAlt and his statement:
“I’m incredibly bullish on ETH for the next few weeks. I’d get a cardboard Vitalik cutout if I could just so I have it by my side 24/7. No matter what BTC does ETH will outperform the market in my mind. I’ll use dips as giant buying opportunities.”However, he also added that the movement was controlled and it is currently at a key resistance.
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