ETHEREUM
Ethereum Founder Vitalik Buterin Says Layer 2 Scaling Solution Has ‘Basically’ Succeeded
Ethereum has been seeing an upward trend, and demand may increase further in anticipation of the upcoming ETH 2.0 update expected in Q3 2020. Ethereum is scheduled to undergo a major change of its consensus mechanism, transitioning from proof-of-work (PoW) to proof-of-stake (PoS). Ethereum has been expecting its scaling to occur for some time, and according to Ethereum’s creator, Vitalik Buterin, it could already be happening. Vitalik Buterin recently tweeted that the Ethereum blockchain network’s “layer 2 strategy has basically succeeded.”
Ethereum—The Whole Forking History
Ethereum is the second most recognizable name in the cryptocurrency and blockchain space, next to Bitcoin. Ethereum was created to overcome the limitations of Bitcoin, which is essentially just a system for decentralized money, and push the boundaries of blockchain technology and decentralization. Like Bitcoin, it is supported by a peer-to-peer node network, meaning that it is essentially a decentralized server run by a vast number of computers with no central administrator or intermediary.
