ETH Hits $4400 Hits All-Time High. For the first time in a year, Ethereum 2.0 powered by the Proof of Stake (POS) engine has been upgraded to Altair on the Beacon Chian. User (Light Client Function), Incentive Adjustment and Adjustment of Penalty Levels for Network Violators.
The upgrade will not affect other users on the current Ethereum network. But only for the Beacon Chian. Such changes will only affect users on the Ethereum network once the transition to ETH 2.0 is complete.
In addition, such changes Altair’s main goal is to provide users with the performance and capability of Ethereum to be able to operate in a wider variety of environments. Such as phones, certain hardware, browser extensions, or Even on other blockchains that support Smart Contracts.
Ethereum is already one of the top cryptocurrencies on the market thanks to its ability to be both Store of Value and Smart Contract. There are many projects on the network. Ethereum originally based on the Proof of Work mechanism, also known as mining. Which has the advantages of security and decentralization. But it comes with a slowdown in transaction processing.
ETH Hits $4400 Hits All-Time High
The developers have come up with a solution to those problems by changing the mechanism from Proof of Work to Proof of Stake (which relies on depositing coins to verify transactions). Also known as stakes, calling this a huge upgrade. that Ethereum 2.0 is expected to be completed in 2022.
Ethereum’s development process is divided into 3 stages: The Beacon Chian, The Merge, and Shard Chain.
The Beacon Chian (Altair) is the first step in preparation for ETH 2.0. The Ethereum parallel network by the Beacon Chain at this stage. It is designed solely for staking Ethereum. Then we have waiting for Ethereum to be fully transformed into Proof of Stake. Which has already been completed in late 2019 (Phase 0).
The Merge is a phase that will merge the Beacon Chain and Ethereum Chain. So once the ETH 2.0 system is completed, which the Ethereum Foundation expects to complete around late 2021 to early 2022.
And the last step, Shard Chains, is the creation of another blockchain network. To work in parallel with ETH 2.0, Ethereum can handle a larger number of transactions. which is expected to occur within 2022.
Finally The changes made after the Altair upgrade may not affect Ethereum users (individuals). But will affect Ethereum developers users who want to continue to Merge. That more than in the past The Ethereum Foundation and Consensys. The developers have created Testnet for PoS (Proof of Stake) integration for both Eth 1.0 and Eth 2.0.
During that time, ETH managed to hit a new high of around $4,405.5. That will be over $146,995. In the past 24 hours, ETH has gained more than +6.93%.