Coinbase Adds Support for 'ETH2' Ahead of Major Network Upgrade

Shortly before the major exchange on December 10, the cryptocurrency exchange Coinbase added an example of ETH, the main symbol of the Ethereum blockchain, to its cryptocurrency value.

These records are called "ETH2" and appear to follow ETH trade data for the first time.For example, the cost of buying ETH2 is the same as the cost of ETH. At the same time, market prices, packaging costs, supplies and prices are changing in the same way.

"Does Coinbase already support eth2 as a new currency?" "

-Nuno (@nvcoelho) 6 novembre 2021

However, unlike usual, ETH2 tokens do not have a trade, brand or hold time. ETH2 only tracks ETH trade data through mid-2022.

This update is called Ethereum 2.0 because ETH2 appears to be an important contribution to the ongoing development of Ethereum.It is expected to be completed online by June 2022. However, Coinbase metric is closer to the “First Glacier” revision, giving developers more time to prepare for Ethereum 2.0.

Avant Ethereum 2.0

The goal of the Arrow Glacier update is to expand the so-called "hard bomb," a revival written on the Ethereum blockchain since its inception in 2015. The goal is to increase the difficulty of the mining of ETH. This way, as long as Ethereum continues to track PoW evidence, it will slow the formation of the blockchain when a hard bomb explodes.

Tim Beiko, one of the main developers working on Ethereum development, pointed out that Arrow Glacier may be the last update before Ethereum 2.0 goes live next year. the same time,Coinbase appears to have been implemented on the Arrow Glacier fork, so after the Ethereum 2.0 update there will be a new symbol called ETH2.

In particular, Ethereum 2.0, also known as “Serenity,” would make significant design changes, including a complete overhaul of hard drive data to PoS evidence.

In the current version, nodes must validate all transactions in order to manage the Ethereum public ledger. However, Ethereum 2.0 upgrades introduce "sharding," which divides the network into multiple locations (eg, shards) and randomly assigns nodes to each shard.

This eliminates the need for one source to scan the entire chain and theoretically increases the costs and speed of cleaning the network. At the same time, each fragment shares an exchange of information with a so-called beacon chain, the backbone of Ethereum 2.0.

The ETH2 level is not a new cryptocurrency.

The beacon chain was launched in December 2020 and allows the approval of the entire Ethereum 2.0 network by analyzing the changes in each shard. He also found the workers unfair and started penalizing them by removing some of their assets from the tour.

At the heart of Ethereum 2.0's PoS design is ETH (or ETH2), which is often used as a token to allow users to participate in network deals and receive blockchain rewards.

Since the Beacon Chain deposit deal was announced in December 2020, it has received over 8.42 million ETH out of 55,300 cash equivalents (proof).

In other words,ETH2 is not a new value and does not change the value of ETH holders.Exchange, as seen in the Coinbase listings, ETH2 can become an integral part of the original Ether without the need to switch from one switch to another.