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ETH Consolidates As Founder Unveils Plans for “Ethereum 2.0” - NEWSBTC 11/29/2017

789 views · Published 29 November 2017 · 2:31 · Indexed 24 October 2026

Channel: NEWSBTC · 2017 · Science & Technology

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Hi it’s Invest Diva’s Kiana with News BTC and here is your crypotocurrency update.Ethereum has mainly continued its consolidation against the US dollar and the EUR, after it achieved reaching all-time high levels last Friday. Meanwhile, Ethereum’s founder, Vitalik Buterin, unveiled his plans for “Ethereum 2.0” on Monday, which would be the next-generation version of Ethereum. The Ethereum network was originally born as an idea for next-generation cryptocurrency network, to begin with. It could do a lot more interesting things than just financial transactions. But, in the past years, it has also revealed a few major issues within the network. According to Buterin, there are currently three major problems that need to be solved to push the Ethereum network to the next level: privacy, Consensus and smart contract safety, and probably the biggest of them all: scalability. To overcome these, Buterin explained that the next generation of Ethereum will use a new architecture called “sharding,” which will enable the network to process thousands of transactions per second -- all on the same chain, which means safety will not be sacrificed. Buterin also noted that sharding will create new types of addresses on the network, which will give Ethereum the opportunity to evolve by adopting new backward incompatible protocols without disrupting the main blockchain. Once Ethereum 2.0 is launched, it could potentially create yet another bullish market for it to bring it to new highs, but of course, this could take some time. Thanks for watching, invest responsibly, and I’ll see you with more updates tomorrow.

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