Ethereum 2.0 on Track as Staked ETH Nears $4 Billion

In an extensive blog post entitled "The State of Eth2", lead developer Danny Ryan published an update on progress in the Beacon Chain and upcoming developments for 2021. Ryan added that the individual Ethereum designations indicate "false sequentiality" in leaving one for the other. Instead, the term represents the different stack levels, he adds. Ethereum 2.0 is Picking Up The figures are attractive to most people, and the numbers are steadily increasing. As it goes to write, $2.78 million ETH…

6 Main Factors Responsible for Cryptocurrency Volatility

The volatile and unstable nature of cryptocurrency makes it a great investment opportunity. When correctly harnessed, cryptocurrency investments can be very profitable. There is a wide variety of cryptocurrencies in the market, and some cryptocurrencies are more volatile than others. The more volatile it is, the higher the investment risk. The risks and uncertainty brought about by this volatility constitute a significant setback as it makes some people hesitant to embrace cryptocurrencies. This constant shift in price and value also…

The Trustless Feature of Bitcoin and Lightning Network

There is an inherent lack of trust in the decentralized network and Proof of Work consensus algorithm of Bitcoin. Nevertheless, Bitcoin’s growth turned it to the leading asset worldwide, thereby bringing up issues like scalability. Hence, second-layer solutions such as the Lightning network have been introduced to solve the problem. The question now is about possible depletion of the trustless domain on which Bitcoin is based on by the Lightning network. Lisa Neigut of Blockstream spoke on the Stephen Livera podcast concerning Lightning network…

Bitcoin and Ethereum Needs to Work Together To Prevent Centralization

Despite being around for a long time now, numerous individuals still consider cryptocurrencies to be undergoing experimentation. However, Bitcoin has been able to gain some form of importance in the financial domain. This is such that governments and central banks worldwide are planning towards the regulation and introduction of their own digital currencies. We have numerous cryptocurrencies in the market but Bitcoin remains the leader despite its remarkable shortcomings. At press time, the dominance of Bitcoin was 62.97 percent, while its…

Between Scalability and Centralization of Bitcoin

Many cryptocurrency market participants and Bitcoin enthusiasts are looking forward to wide usage of Bitcoin as currency. However, scalability is among the greatest challenges hindering the achievement. Bitcoin’s proof of work consensus algorithm is exceedingly essential based on immutability viewpoint; however, it has not been able to do as expected regarding transaction speeds when in competition with other forms of payments. People argue that Bitcoin is suitable as a store of value asset and not as a medium of exchange.…

Developers Upbeat that Announced Upgrades Will Enhance Bitcoin’s Scalability

The Bitcoin network is about to experience unprecedented scalability thanks to impending upgrades. Announced last month the Schnorr Signature and Taproot Softfork upgrades are the most ambitious that the decade-old network has undertaken yet. Although initially a pull request, it transformed into a distinctive development when it became a formal proposition for a Bitcoin Improvement Proposal [BIP]. In addition to improving scalability to accommodate the daily users, the upgrade will enhance their privacy. Simple and Efficient The Schnorr signature scheme…

Experts Disagree with The Notion of Bitcoin on Ethereum

There is an aspect of crypto and blockchain, usually utilizing ideas to obtain value from blockchain’s principal success. One instance of such is Bitcoin Hard Forks. Recently, an Etheereum product developer, known as David Hoffman, tweeted his bullish sentiments supporting Bitcoin transactions on Ethereum. The notion of running Bitcoin on a second faster chain always gets suggested. EOS has been trying to make such happen. The impact of the growth of Bitcoin networks drives the markets with stores of value…