Like Bitcoin, Ethereum has done far better than almost any other financial asset over the past weeks. Since the March 13, 2020 price level of $106, Ethereum now costs $200, a gain of over 88%.
According to data from Coinmarketcap, Ethereum, the second-most valuable cryptocurrency by market capitalization, had a value of $22.4 billion and a daily trading volume that stood at about $14.4 billion, at the time of drafting this report.
Meanwhile, the much-awaited Ethereum upgrade, known as Ehereum 2.0, could potentially boost its present bullish trend.
Ethereum 2.0 stands for a fundamental shift in its original designed structure, from the proof-of-work model to an upgrade known as a proof-of-stake model.
Lately, Ethereum Foundation researcher, Justin Drake, wrote on Twitter about Ethereum being long overdue for an upgrade. He said, “Ethereum 2.0 could have been launched a year or two sooner had the team decided to make things easier for themselves, e.g. by going through fewer design iterations.”
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We made Eth2 hard for ourselves:
* many design iterations
* many community clients vs one EF-led client
* libp2p vs devp2p; BLS12-381 vs BN254We could have launched a year or two earlier the easy way. It was painful but it was right. Our investments will pay off for decades 🙂
— Justin Ðrake 🦇🔊 (@drakefjustin) May 15, 2020
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When asked about the improvement on Ethereum he continued by tweeting:
Three big compounding improvements:
* (robustness) unifying PoS and sharding
* (scalability) committees and signature aggregation
* (usability) fewer shards with faster crosslinksNone of these were obvious at the time. Every time we simplified the design.
— Justin Ðrake 🦇🔊 (@drakefjustin) May 15, 2020
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Ethereum is a cryptocurrency designed for decentralized applications and deployment of smart contracts, which are created and operated without any fraud, interruption, control, or interference from a third party.
Ethereum is a decentralized system, fully independent, and is not under anybody’s authority. It has no pivotal point, and its platform is connected to thousands of its users through their computing system around the world, which means it’s almost impossible for Ethereum to go offline.
Please I want to know whether million money is under Ethereum??
You noticed, huh? Calling the top, I guess…