Hello everyone. I hope you have been having a successful week and are ready to chill out for a second and learn a little about Etherium 2 (ETH2) and what it is all about and why it is big news!
This just might be what makes Ethereum King of Crypto. If it is not already.
The first thing we should go over is what exactly is Ethereum 2?
ETH2 is going to be an upgrade of upgrades pretty much. It is making Ethereum faster, stronger, and cheaper.
The first thing for ETH2 is the Beacon Chain. This is amazing because it brings staking to Etherium. I think Etherium should have the price tag Bitcoin has. Maybe these upgrades will push it in that direction. Only time can tell.
Next is the Merge. Expected to be happening by the end of this year. This will enable staking. Right now on the Ethereum website, you can stake ETH2 but you need 32ETH!
Last but not least Shard Chains. This is going to be the final stage which will probably need to be upgraded over time and never really stop from my understanding. Always building and evolving as the world builds and evolves.
These upgrades are going to bring so much to the table that Ethereum has been desperately needing. Let us go over what this will do for Ethereum and how I believe will be the reason Ethereum becomes king Crypto.
Scalability
Security
Sustainability
These are all desperately needed on the Ethereum BlockChain. It is nice to see it coming to life over time.
The best part about this upgrade is Staking.
This is going to blow Ethereum out of the water when you are able to trade and do with it as you please. I am hoping it will be at the end of this year maybe early next year. Let us keep our fingers crossed.
You can either do this on the Ethereum site or on a wallet that supports it this early. The problem with doing it on the Ethereum website is that you need 32 ETH to be able to stake!
Right now the price of that would be around $80,000! Who can afford that?! I am not sure of any other wallets that you can Stake Ethereum2 other than Coinbase.
The one thing though I want to warn you is that once you stake it you can not withdraw or trade it until it goes live. I just think of it as a long-term investment.
The Ethereum website gives you 6.9% APY while Coinbase gives you 6%. If you can afford The actual site then go ahead but I am sure most of us will be using Coinbase.
You can find all of this information on the Ethereum website.
Lead image by https://cryptobulls.info/what-is-ethereum-2-0-a-comprehensive-beginners-guide
