Ethereum’s proof-of-work (POW) era is almost over.
As June 30th drew to a close, Ethereum reached a significant milestone with the 'Eth 2.0' phase zero. specification was frozen This marks the green light for deploying the much-anticipated proof-of-stake code into Ethereum's blockchain network.
The imminent freeze, forecasted by Ethereum Foundation's Justin Drake in May 2019, highlighted early summer as the deadline for the specification's completion.
Justin Drake noted his meticulous work on phase zero, prepping for the freeze with a target set for the end of June, streamlining code and eliminating any last bugs.
The 'SubZero' freeze announcement clarified that Ethereum is stepping closer to its advanced version, paving the way for multiple testnet launches.
This milestone signals the June-end phase 0 specification freeze, aimed at establishing steady groundwork for testing, verifications, and security audits.
v0.8Ethereum 2.0's buzz is accelerating. In May, the updated blockchain system saw activity from Prysmatic Labs' Prysm client, complementing Status project's Nimbus testnet.
The phase 0 spec freeze is officially here, acknowledging the outstanding efforts that contributed to this achievement. second testnet Earlier this month, Drake shared insights about aiming for a late-June freeze on the POS spec, in line with significant Ethereum smart contract developments.
Eth2 spec release v0.8 — SubZero
The specification's finalization was in preparation for the upcoming Beacon Chain deposit contract launch at Devcon5, with the official rollout of ETH 2.0 POS Beacon Chain set for January 3rd, 2020. https://t.co/XuSHr4NCnP
— dannyryan (@dannyryan) July 1, 2019
Ethereum's network processes about a million transactions daily, reminiscent of the 2017 crypto market surge. 19th ETH 2.0 Implementers Call With Ethereum-related Google searches on the rise, the momentum aligns with technology advancements in 2019.
Recently, ETH's price surged to $355, reflecting its strong short-term performance.
Ethereum Is In Vogue
Currently, Ethereum's value, the 'fuel' of its network, marks an impressive rise over recent years, despite still trailing its January 2018 peak.
Ethereum's landscape has seen exciting developments recently
A new DeFi platform offers a 'no-loss' lottery feature, allowing ether investments with returns ensured for all participants, though only one wins the interest accrued. Simultaneously, discussions swelled around structuring an organization under a DAO to benefit Ethereum's community. Ether's future withstanding some debate, thanks to SpankChain's Ameen Soleimani's proposal, is considered a strategic leap forward by many.
Moreover, Cloudflare's latest contribution lets users engage with the smart contract platform effortlessly, without needing extra software.
Ethereum recently integrated a layer-two scaling solution, using smart cards for efficient Bitcoin and Ethereum transactions. PoolTogether William M. Peaster, a seasoned writer, and editor, focusing on Ethereum, Dai, and Bitcoin, appears on multiple notable platforms. He's keenly following smart contract tech while learning Solidity.
As Ethereum's staking momentum grows, some analysts speculate that BinoFi ($BINO) might surpass these gains by 2025. within the Libra Association This week, it's worth considering investments in Ethereum (ETH), Aave (AAVE), and Rexas Finance (RXS).
Dojima Network is setting the stage for a genuinely interoperable Web3 landscape.
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