Why is the Ethereum 2.0 release important?

What is the significance of Ethereum 2.0? Cointelegraph en Español asked Raúl López, Country Manager of Coinmotion Spain, and Salvador Casquero, President of 2gether, about their prospects.

Raúl López, Country Manager of Coinmotion Spain, stated: “”Essentially, this change is a series of updates aimed at making Ethereum faster and more secure in an environment where cryptocurrency hacking is commonplace.”.

Then he said, “Most of these updates are minimal, but also There are some significant changes in the behavior of this blockchain. The two most important aspects that Ethereum 2.0 has compared to Ethereum 1.0 are the way in which new blocks are mined and how transactions behave on the blockchain. These are intended to address problems of high energy consumption in mining and scalability. “

Why is the Ethereum 2.0 release important?
Why is the Ethereum 2.0 release important?

On the other hand, López pointed it out Ethereum has recently faced increased pressure from the increasing issuance of stable coins and the surge in DeFi. “If all goes well, however, the new Ethereum will be much faster and more secure than the previous version. This could be a benefit for the Ether markets and ultimately mean that Ethereum could deliver on its promise as a system for smart contracts in the future. It could also pave the way for other features that have been hinted at since the beginning of the Ethereum project without seeing much real benefit, ”said Lopez.

In the case of Salvador Casquero, President of 2gether, remarked: “There is no greater strength in a founding movement than the common interest, the common desire for progress, the effort and contribution of all. The true disposition of a single person who tacitly joins the disposition of so many others, millions of them, without inquiries or demands, without written or mandatory rules, without flares or flames from flags, without commanding any government or organization. to organize. This is exactly what this cryptocurrency revolution has brought, what Bitcoin has brought, what Blockchain has brought, what the Ethereum network has delivered on December 1st with the deployment of Beacon Chain, the first phase of so-called Ethereum 2.0 ”.

For Casquero se is a development of the decentralized community that is destined to respond to the inexorable growth of this “universal computer” by making it more secure, scalable and, above all, more efficient.

“In the following phases, in the coming months, We will see how it is organized in this supposed chaos of decentralization, a moderate and peaceful transition to a popular noise about energy efficiency, the orderly transfer of the terribly expensive proof of work to a much safer and more efficient proof of deployment Casquero added.

“Ethereum, the second largest blockchain network in the world by capitalization, will today shift a capitalization of 68 billion from the 1.0 digital community to the 2.0 community. The comparisons are hideous, but don’t we remember a similar, orderly and centralized movement? The euro … well, “he concluded.

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