Bulls Waiting for ETH Price Rise as Ethereum 2.0 Launch Gets Closer

Ethereum bulls have continued to outperform themselves in April in spite of the coronavirus-related volatility. Ethereum (ETH) price proves that it has the potential to rise to $200 despite retreat to $170 support.

One of the teams that helped develop Ethereum, the second strongest cryptocurrency, Prysmatic Labs introduced the ETH 2.0 Topaz test network as a substitution for the preceding Sapphire test network and finally managed to deliver it successfully. Right now, the Ethereum network can handle just 15 transactions per second (TpS), which represents the pretty small number. The team, however, decided to change this with Ethereum 2.0. And it’s clear that the closer these updates get, the more talks about Ethereum (ETH) price are there.

Working Product as Ethereum ‘Very Complex’ Changeover

However, let us try to explain why has the whole thing only runs on a test network. A test network is an environment that is meant for test purposes only. It allows application developers to experiment without destroying the network.

Especially with a “working product” like Ethereum, a changeover is very complex and has to be done with great care.

ETH 2.0 would, as it is planned, remove all possible problems that afflict the Ethereum network. This includes relatively limited scalability and security. Also, it will apply the possibility to stack Ether (ETH) in order to validate transactions on the network and earn extra tokens as payment.

Also, It should be mentioned that Ethereum 2.0 will be faster and more vigorous because it supports sharding. Sharding, just for the reminder, is an approach that divides the processes in the Ethereum network into smaller nodes so that it can handle more transactions.

Analysts say that Ethereum 2.0 is expected to have a categorically positive effect on the value of its native cryptocurrency.

Ether Should Be Burned?

Also, there is an idea that Ether should be burned when transactions take place, which would only intensify the supply-demand…

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