The community has been on high expectations about the upgrade on Ethereum. As it appears, Ethereum convinced the investor’s community to put more money required for the ETH 2.0 launch.
Since, ETH 2.0 is all geared up, Ethereum can process as many transactions as the other financial giants.
Ethereum has been running on energy-intensive & methods to keep the computers on the network working in agreement with its ledger. Since 2015, developers have not rested in their quest for a system that can be more functional.
Now instead of the “proof of work,” Ethereum is upgrading to a “proof of stake.” For this upgrade to happen, developers successfully gained enough investment to fill the remaining deposit contract.
Since Ethereum 2.0 is all geared up, investors will shortly recieve a postive outcome.
Experts opinion about Ethereum upgrade
Many experts in the community have expressed their views about the long-awaited Ethereum upgrade. According to Andrew Keys, a Dhama Capital management member, Ethereum needs the upgrade to improve its capacities.
Keys was amongst the first employees of ConsenSys, an Ethereum application incubator. So, his opinion is that the network needs to scale up to serve a global transaction volume. According to Keys, Ethereum has shown everyone that it can be possible to digitalize real-world items such as music, gold, currencies, etc. Now, it needs to prove that it can handle any pressure on its network.
The popularity and usage of Ethereum have been increasing continually. The network garnered a massive following due to its focus on eliminating intermediaries in the financial sector. Now with its platform, smart contracts can easily replace corporations when it comes to financial transactions.
Will the upgrade be Easy?
While the community seems enthusiastic about the upcoming upgrade, some prominent crypto players are skeptical about it. For instance, Aaron Brown, a crypto investor and writer for Bloomberg Opinion, has stated that upgrading such a technology that many people are currently using will be difficult. According to Aaron, it hasn’t been easy for successful crypto to make routine fixes on their technical issues, not to talk of a major transition.
Another person who made his skepticism open is the co-founder of Multicoin Capital, Kyle Samani, who said that he doesn’t believe in the success of the system. But he also said that the 24th November date is not carved on stone. What matters is for the amount of Ether to be complete.