the address of staking of Ethereum 2.0 surpassed 6.8 million ethers (approximately US$22 billion), indicating a great confidence of the crypto community in the project.
This value today is equivalent to almost 120 billion reais. Just to give you an idea, this value is higher than the valuation that Havan, a giant Brazilian retail company, expected 1 year ago for its IPO (BRL 100 billion).
Today, this expectation has already dropped to R$45 billion. Even so, considering last year’s figures, the ETH 2.0 already surpasses it by far.
Havan, well known for its founder, Luciano Hang (a figure who became a meme in several situations beyond the corporate world, such as politics), and for its stores with facades inspired by Neo-Greek architecture and the replicas of the Statue of Liberty installed in the front of most of its branches, it has megastores in 18 Brazilian states (and also in the Federal District).
Ethereum 2.0 will basically offer a redesign of the world’s largest smart contract platform, Ethereum.
2.0 is the next major protocol update (and is already in development) to improve network usability, bringing more scalability and ease of development.
Among the news will be:
- Consensus algorithm change (how Ethereum validates blocks in the blockchain);
- Remodeling of the network structure;
- Modification of monetary policy.
What does Ethereum 2.0 propose to solve?
Currently, the Ethereum blocks are mining by Proof-of-Work (PoW), that is, it takes great computational power to include blocks in the network. With the Ethereum 2.0 update complete, the situation will change and the blocks will be validated by “Proof of Participation” (PoS), as long as the user has the amount of 32 ETH and technical skills to set up a server that helps the network.
One of the biggest problems blockchain networks have had in recent years is scaling to meet growing demand. Blockchain networks have become congested and expensive, making them more difficult to use.
The Ethereum developers recognized this problem and decided to attack it head on, with a redesign of their blockchain architecture and a mission to scale their network to lengths never seen before. The redesign, known as Ethereum 2.0, will radically change how the Ethereum network works.