What Exactly Is Ethereum 2.0?

Ethereum has been subject to many difficulties early blockchain technologies struggled with, and to a certain extent, it managed to find solutions to these problems, and contribute to the global DLT scene with countless ideas and protocols we are familiar with nowadays.

Ethereum is the home for more than half of all altcoins, and it has been constantly evolving since its launch in 2016, implementing new strategies and creating new possibilities for its users, ranging from decentralized applications (dApps), smart contracts, and decentralized cryptocurrency exchanges to mention some of the most popular use cases.

What does Ethereum already offer?

Ethereum is already very popular. If you’re buying Bitcoin, no matter where you get it from, there is a 99% chance that same broker will also trade you ETH, the native asset of the Ethereum blockchain.

One of Ethereum’s main characteristics, which also acted as a big selling point during the project’s crowdfunding back in 2014, are smart contracts.

If you’re new to the term: smart contracts essentially create a predesigned protocol as agreed by two or more individual parties and it follows a set of rules as ordered and approved by all party members.

Participants can choose when a smart-contract is considered ‘breached’ and what should follow in each scenario. The protocol will be automatically followed due to the blockchain’s nature, even if one of the users would try to act in a malicious way, or try to hide information subject to the specific contract from other members of the agreeing party.

The Ethereum platform is very useful for businesses or communities that want to create their own blockchain-based tokens but don’t want to create a chain from scratch. Some popular tokens launched on Ethereum include Maker, OmiseGO, Project 0xStatus, Golem, Decentraland, and more.

Ethereum’s cryptocurrency ETH is also used as a major base pair in most cryptocurrency exchanges, in fact, there are more exchanges…

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