GREGinSD's SPACE; A GEN X|Y Blog: May 2022

Tuesday, May 10, 2022

What is Ethereum 2.0?

What is Ethereum?

Ethereum was created in 2015 by computer programmers including Vitalik Buterin.

"Vitalik" Buterin is one of the
co-founders of Ethereum

It is a decentralized computing platform that has smart contract capabilities that allow a variety of decentralized applications to be built on the network. Similar to Bitcoin, Ethereum is an open-source, decentralized project used to make peer-to-peer payments, but it is much more than that.

Developers can execute smart contracts and build databases for decentralized finance, or DeFi; nonfungible tokens, or NFTs; and gaming. These applications are not possible on the Bitcoin network. Ethereum, like Bitcoin, uses the proof-of-work, or PoW, protocol to keep the decentralized network running and maintain the integrity of the platform's operations.

Ethereum's transactions tend to be processed faster than Bitcoin's, but this comes with higher "gas fees" that users have to pay. Gas fees compensate network participants who validate transactions on the platform. These fees can be costly to new investors, even for small transaction amounts.

Ethereum 2.0

The crypto market is patiently awaiting the rollout of Ethereum 2.0, a more energy-efficient and cost-effective model that uses the proof-of-stake, or PoS, protocol instead of PoW. The transition to PoS will allow the network to support more transactions per second to make the network more scalable.

"The blockchain behind the second-largest cryptocurrency, Ether, will soon undergo a highly anticipated upgrade that may lead to more institutional investors putting money in the network and help lift Ether's price," says Eloisa Marchesoni, a crypto entrepreneur and public speaker.

While Bitcoin today is the largest crypto by market value, Marchesoni says, Ether could become the leader after its infrastructure upgrade, also called the "Merge," marking the end of the proof-of-work for Ethereum.

SOURCE

Saturday, May 7, 2022

Join me and show your support for a FREE & DEMOCRATIC Ukraine by completing a session with me

LONG LIVE UKRAINE!!

Join me and show your support for a FREE & DEMOCRATIC Ukraine by simply completing a session with me.

I'm donating $ for every session completed with me to REVIVED SOLDIERS UKRAINE (a non-profit humanitarian organization that delivers much-needed supplies to people in Ukraine).

Learn more about this great organization by: