0
📰 News
492 views

Joseph Lubin Wants You to Be Familiar with Ethereum 2.0 Terms

  • Alex Dovbnya
    📰 News

    In case you have no idea what beacon chain is, here’s some handy explanation   

Joseph Lubin Wants You to Be Familiar with Ethereum 2.0 Terms
Cover image via twitter.com
Contents

A cursory glance at Ethereum 2.0 is bound to make users confused because of a plethora of new terms. Alethio’s Alex Tzapulica decided to bring some clarity to the table by compiling a comprehensive list with all of them.

👉MUST READ

Ethereum Mainnet Boasts 200,000 ERC20 Smart Contracts

Ethereum Mainnet Boasts 200,000 ERC20 Smart Contracts

Going in-depth

Tzapulica’s blog post includes all unknown words that you might stumble upon while reading up about Ethereum 2.0 while explaining every new concept in detail. Hence, it’s an absolute must-read for everyone who wants to understand the difference between blocks and slots (spoiler alert: they are not the same thing).  

The so-called ‘beacon chain,’ which was proposed by Vitalik Buterin himself, serves as the cornerstone of the Ethereum 2.0 infrastructure. ETH2 will be the base currency of the beacon chain. 

The terms connected to the Blockchain seem perplexing, but the irony is that the very purpose of the proposal is to let developers create apps and smart contracts on the upgraded network without getting granular.    

A major transition

The Ethereum network is set to undergo a slew of radical changes over the following years as it plans to ditch proof-of-work (PoW) in favor of a proof-of-stake (PoS) consensus algorithm.

The much-hyped transition will commence with the ‘phase zero’ stage that is slated for Jan. 3, 2020.

Only the most important posts per day. Infographics, analytics, reviews & summaries. Join our Telegram channel!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

👓 Recommended articles
0
📰 News
188 views

Nationwide Blockchain of China Finally Preparing for Launch

  •  Denis Sinyavskiy
    📰 News

    China launching nationwide blockchain service in beta mode until March 2020. It must push forward digital economy and smart cities

Nationwide Blockchain of China Finally Preparing for Launch
Cover image via www.123rf.com

China continues to take steps toward the digital economy and smart cities by officially releasing a nationwide blockchain service network, XINHUANET says.

Blockchain service network expectations

UnionPay, State Information Center (SIC), China Mobile and three other organizations worked on a system that will help China lead the blockchain technology market. Blockchain beta testing has already been announced and will last until March 2020, and all content and services will be available for free till that date.

BSN is expected to accelerate the development of digital technology and smart cities, as well as foster the development of new technology and industries.

What about CBDC?

Earlier, U.Today reported, that China has come close to creating its own cryptocurrency and may even launch it this fall, but then there was information that the national digital currency will appear later.

But China will not become the first country to introduce a national cryptocurrency. The Kingdom of Bhutan has already done it this month, as we already reported.

So, what do you think? Does the launch of China's national blockchain mean that the country will become a leader? Write what you think about this in the comments section!

Join our Telegram channel to get news even faster!

About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

👓 Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings