Ethereum Awaits Global Upgrade
Recently, the founder of Ethereum, Vitalik Buterin, announced that the developers of the network have completely abandoned the implementation of the hybrid consensus model, and also announced that Ethereum is waiting for a global update called “Serenity”.
The Serenity upgrade is also known as the “Ethereum 2.0” network, which includes a Proof-of-stake mechanism and sharding, which is capable of increasing throughput by 100 times. This update will be available to users soon. Buterin himself announced this at the Devcon conference in Prague.
“Ethereum is waiting for a global Serenity update, which is a computer, not a phone from 1999, that has the ability to process about 20 transactions per second.” Buterin said.
The work on this update itself was not easy, many problems and obstacles forced the release date to be postponed. For example, according to Vitalik Buterin, the infamous DAO serves, due to which the network was divided. He equated this event with the collapse of the airship Hindenburg. The team behind the Ethereum blockchain network also struggled with the difficult hurdle of “super-square sharding.”
More recently, Jeremy Rubin explored the underlying asset of the Ethereum network, after which he stated that Ethereum should not stand in one place in development, otherwise its price may rarely crash. The founder of the network, Vitalik Buterin, agreed with this statement.
In September, Vitalik Buterin said that more attention should be paid not to market speculation, but to the spread of cryptocurrency technologies, noting that, in this case, the rise of the crypto market is still possible.
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