The Ethereum Foundation made headlines earlier this year when it announced that the Ethereum Blockchain would transition from proof-of-work to proof-of-stake. Months later, the blockchain has completed its London update, and the Ethereum 2.0 upgrade, which will include the new proof-of-stake system, is scheduled to be finished in October. Ethereum and crypto enthusiasts, in general, have been excitedly anticipating this upgrade, and crypto-focused media has been covering all of the events building up to it.
It is expected to happen this year. Personally, I would like it more than anyone else. But it seems a little difficult. Or I'm the problem. I don't fully understand.
But it will be very good if this happens. Fee will fall, energy will decrease, and ethereum will increase. Amazing threesome. I am waiting with excitement.
The Ethereum upgrade really shows the ability and willingness of the network to adapt to the demands of the world. I feel this adaptability really gives promise to the future of the apps built on Ethereum.
Proof of Stake seems to be the best consensus mechanism for a blockchain in terms of power consumption. Hopefully Ethereum will work as expected when the upgrade is fully rolled out. People are tired of the high gas fees.
What Will the Ethereum Upgrade Mean for the Industry?
It is expected to happen this year. Personally, I would like it more than anyone else. But it seems a little difficult. Or I'm the problem. I don't fully understand.
But it will be very good if this happens. Fee will fall, energy will decrease, and ethereum will increase. Amazing threesome. I am waiting with excitement.
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The Ethereum upgrade really shows the ability and willingness of the network to adapt to the demands of the world. I feel this adaptability really gives promise to the future of the apps built on Ethereum.
Proof of Stake seems to be the best consensus mechanism for a blockchain in terms of power consumption. Hopefully Ethereum will work as expected when the upgrade is fully rolled out. People are tired of the high gas fees.