You might have heard about the new update that was scheduled for Ethereum’s blockchain in the past and was soon to be implemented. Ethereum’s developers back in the day decided to optimize the performance of the blockchain system and increase its overall efficiency, and to make it happen, several new changes have been made to a whole new framework for Ethereum in the form of the ETH 2.0.
Though completed, this framework had to go through the trial phase, which is why it is not fully incorporated into the official Ethereum blockchain system. Even at present, it is continually tested and validated. At the time of writing, the ETH 2.0 has seen more than 200k validators actively surfing the network and validating the platform by making purchases of Ethereum tokens, trading them, and whatnot.
Ethereum 2.0 Might Be Able To Change The Fate Of DeFi For Good
This is to fully assess the performance of this new implementation and to test whether or not it is ready for incorporation with the main Ethereum framework. The staking continues on the new ETH 2.0 and quite successfully, which hints at completely restructuring the present Ethereum’s blockchain with the latest one. This will change the basic proof of work chain to a more applicable and efficient proof of stake system and will be changing the fate of Ethereum’s network for good.
Furthermore, in the new London Fork upgrade that is scheduled for August of this month, the users will be able to speed up their transactions by adding a tip into the block at which their transaction was initiated. This would be a direct request for the speeding up of transactions as initiated by users, and this way, the users who want to access their funds early or send a handful of tokens to a digital address on an instant basis would be able to do so. It might be the good news from the ETH 2.0 or something else that the Ethereum token has also recovered above $2k at the time of writing, and more increase is expected.
