The Most Exciting Aspect of Ethereum 2.0 Is Sharding States Krishna Asserts
By Tyler S - Cryptocurrency Investor - 15-04-2021
Ethereum 2.0 (ETH) and non-fungible tokens (NFTs) are two of the most talked-about ideas in the cryptocurrency trading space right now. The former presents itself as a solution to one of the crypto community's most pressing issues: the high cost of Ethereum gas.
Many crypto buying and blockchain experts believe that a significant upgrade is needed for the Ethereum network to become scalable. Fortunately, Ethereum developers agree and have suggested an update dubbed "Ethereum 2.0." One of the most important issues that this ascension would address is the Ethereum blockchain's inability to process transactions quickly.
In an interview with BTC Peers, Krishna, Senior Marketing Manager at ChangeHero crypto exchange, believes that the most exciting aspect of the upcoming update is sharding, which will process transactions in sub-chains.
The Ethereum network can currently only process a few transactions per second; however, the implementation of sharding would split the network into sub-chains that can handle multiple transactions at the same time, allowing faster and cheaper transactions, according to the Marketing Manager. This would make the process to buy Ether much better and easier for investors.
Ethereum, like Bitcoin (BTC), is based on the proof-of-work (PoW), which unfortunately is seen as a fundamentally inefficient method. Krishna is adamant that the switch to a more efficient proof-of-stake (PoS) system would turn Ethereum, a network known primarily as a developer's blockchain, into a more general platform where enthusiasts and consumers can comfortably stake their holdings and gain passive income.
With crypto stakeholders such as Bitno's creator Rob Zel claiming that Ethereum is by far the most advanced network, the planned 2.0 update may be the catalyst for global adoption.
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