What is Ethereum? Ethereum 2.0 Explained
In this video, we answer the question “What is EthereumEthereum (eth)2$ 4,309.390.16%1.47%-4.66%details?” and give a simple breakdown of the incoming Ethereum 2.0.
Ethereum is home to a decentralized ecosystem made up of , decentralized finance Inspired by blockchain technology, DeFi is referred to as financial applications built on blockchain technologies, typically using smart contracts.Learn more applications, and many other dapps Decentralized applications, or dApps, are software programs that have their backend code running on a distributed computer network.Learn more.
However, Ethereum’s popularity has challenged the network’s capacity to serve its growing user base.
Can Ethereum 2.0 usher in a new era for the second largest cryptocurrency? Or will other scalable smart contract platforms like Tezos and Algorand take the lead?
0:00 Introduction: How Ethereum changed the use cases of the blockchain.
0:42 What is Ethereum: What Ethereum hopes to achieve and who created Ethereum.
1:27 Ethereum Mainnet Launch: Launched in 2015, Ethereum quickly moved up the ranks as the second crypto in terms of market capitalization.
2:11 Limitations of Ethereum: The Ethereum Network is prone to get congested resulting in high Ethereum transaction fees.
3:10 The Rise of DEFI: Decentralized Finance on the Ethereum Network has gained popularity as financial products are offered on the blockchain without the need of banks.
4:40 Ethereum 2.0: Hoping to solve the Ethereum scalability issues, Ethereum 2.0 will significantly change the way Ethereum will work.
5:47 Shard chains: These are individual blockchains that run parallel with the main Ethereum blockchain.
6:37 Ethereum 2.0 Launch: The new version of the Ethereum network will launch in 3 phases.
Information provided is for informational purposes only and should not be considered financial advice. Investing in crypto assets is speculative and carries a high degree of risk; you may lose some or all of the money that is invested. Past performance is not indicative of future results.