Bitcoin, Crypto currency, Blockchain

Ethereum 2.0 (Serenity): “The world computer as it should be”

Vitalik Buterin, founder and Figurehead of Ethereum, announced the new Version of his project at this year’s Devcon. In Prague, the crypto pioneer announced that the Update Serenity’m going to make the Ethereum network better, faster and cheaper: “in The world, computer should be as he is.”

Ethereum has the current state – at least in terms of the courses – the best times are in the past. The Ether-price is currently just under 200 US dollars, well below its former all-time high of over 1100 US dollars. However, in the technological developments, the situation appears currently to be considerably better than the Price suggests. The Devcon4 testifies in Prague. On the developer conference, Fabian bird plate with RICO, a new ICO-concept, which is designed to help the investor model ICO to more seriousness.

Ethereum 2.0: The new world computer?

But Vitalik Buterin reported himself to the word. The 24-year-old founder, developer and authoritative inventor of Ethereum-a Blockchain announced at the Devcon, with the next Upgrade Ethereum to Ethereum 2.0. to make. The Update Serenity should make the network faster, safer, less resource Enver(sch)addressing, and significantly scalable.

So Vitalik Buterin said:

“[Ethereum 2.0. is should be] the world’s computer, as he really is. Not just a Smartphone from the year 1999, it can only process 20 transactions per second.“

The benefits of Serenity promises

The Update was originally scheduled earlier, the technical developments have brought some delays. So, it was mainly the DAO-Hack, as well as complications in connection with Sharding, which delayed the current developments.

Probably the biggest Change that awaits us in terms of Serenity, is the change from Proof of Work to Proof of Stake. Thus, the Proof-of-Work algorithm, which is also used on the Bitcoin Blockchain application, by a (supposedly) more effective variant to be replaced.

Proof of Stake is a consensus mechanism, in which the proportion of the Token in the entire network, the Miner is crucial, whether it is mines a Block successfully.

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