Ethereum (ETH 2.0) - delivering the path to a decentralized future
The purpose of this report is not to introduce you to kryptowalutyna where Ethereum is, and to determine its current potential, possible future increase or decrease relative to the market and presentation of data provided by public activity analysis of blockchain ETH.
The report was created thanks to the cooperation and commitment of the CyberKrypto team. If you are just starting out on your quest for cryptocurrencies, CyberKrypto is a great place to start learning and get advice from real cryptocurrency veterans.
Thanks also to Tomasz Drwięga zEquality, for reviewing the report and correcting any errors in reality.
The report "ETH 2.0 - paving the way for a decentralized future" belongs to someone with the nickname stokarz. It is prohibited to apply the results of my work, to copy or make changes to the document. The report is available in public distribution and educational material, so I encourage you to disseminate it and share it with people interested in the market technology and cryptocurrency market. The report is not necessarily an investment advice. Investing in the cryptocurrency market, due to its volatility, involves a huge risk.
decentralization is a powerful slogan. Although observing nature, it is difficult to see the functional schemes we can give the name of decentralized, it turns out that this form of action has the unusual characteristics of large systems. This is especially evident in the case of human clusters, as well as the technology we have created. Changing the hierarchical management structure to its decentralized version - the dispersal of resources, decision-making and finally power, makes such systems unique features: the inability to introduce undesirable changes through a malicious organization, high security resulting from the need to attack decentralized infrastructure, or equal opportunities regardless of their origin, race, gender or other human characteristics. They are useful in an environment where a participant example cannot show confidence. For various reasons. Perhaps he wants to remain anonymous, because his true identity will reveal that he is a political fugitive, thus removing him from participation.
The last ten years, the time in which it established and effectively operated Bitcoin showed that decentralized systems are great for finance. Although the attempt to create free, equitable and secure digital currency has been around since the early 90's, Satoshi Nakamotoang has only applied it to decentralization and the drastic reduction in the need for individual trust has caused a global and open information network such as the Internet, which continues to grow in strength and change our lives drastically, has received a tool for exchanging values within it. What may seem like a trivial matter, it has become the foundation for a new kind of economy. We are able to observe its first steps now, and we will see a breakthrough in the next decade.
To better understand the phenomenon of cryptocurrencies, we must go back thousands of years and embrace our understanding of a broader horizon of events. Because our brains have become strong enough to understand the idea of transactions between individuals of the same species - in this case, homo sapiens - we often dreamed of capturing the objects and goods of our "neighbors" from in the tribe. But how do you exchange the fruits of my own labor for something created by another person? The introduction of a universal measure of abstract value, the possibility of valuing goods and services eventually, is for humanity a success in line with fire detection. By replacing the first kind of shell, which served as ancient human settlements as money, for goods, the process of building what we call the modern economy began. The unification of value propositions, this kind of unwritten contract with society, is the cause of our global development.
We now know how strong money is and how it plays a role in our history. We will now look at modern times.
The violent development of the Internet, which fell from the 90s of the 20th century to the modern era, shows an amazing leap in the pace of development made by mankind. However, right now the internet is quite limited. We were allowed to send information, but the delivery of value was still in the hands of the traditional financial system, along with the centralized institutions that had given full monetary power for decades. Even services like Paypal or modern online payment systems from Mastercard still remain in the hands of a central authority.
An authority capable of disrupting finances - to reverse a transaction if it is not in accordance with company policy or to censor people from certain countries. The Internet needs a tool that will allow for value - money can be sent anonymously, democratically, and people who run the network will have a clear economic initiative to send transactions - regardless of their origin .
And that is Bitcoin. Money for the Internet.
However, development and change do not want stagnation. Bitcoin is, is and will continue to be a great digital currency that anyone on Earth can use. But Bitcoin is just money and money. That is how it is programmed and implemented this task. However, it soon became apparent that Bitcoin opened the door to a new branch of science, which is generally cryptocurrencies. Being in the interface of economics, computer science, mathematics, market psychology, distributed systems - interdisciplinary - the inventors of this world came very quickly to the right conclusion that the technology known from Bitcoin could be applied to other Problems.
Thus, in 2014, on the initiative Vitalika Buterina Ethereum (ETH) was created. Ethereum is a public, distributed computing platform using blockchain, having the ability to create smart contracts and decentralized applications - dApp. Now valued at 26 billion USD and processing 900 thousand per day. project transactions, major changes await as a result of five years of research and testing. The second version of Ethereum, called ETH 2.0, will bring many technical improvements to cryptocurrency, which should speed up the network, increase the scalability potential and allow Ethereum to become a truly global computer.
In this report, we will look at the upcoming ETH 2.0 update, considering the strengths, weaknesses, consequences, and potential threats. We will look at the true application of Ethereum, the size of adoption and the growing competition in the market from day to day.
