IMPACT OF ETH 2.0 on defi
The end of 2020 has been huge for the crypto community. Not only was there a spectacular price surge across digital assets, possibly signaling the beginning of another bull market, but there was also the launch of Ethereum 2.0 beacon chain, which has been in development for some time.
The long-awaited update to the Ethereum blockchain transforms the network from a proof- of-work to a proof-of-stake consensus model and is intended to improve speed, security, lower transaction fees and fix the scalability issues that have been holding Ethereum back throughout 2020.
Ethereum 2.0 is still in the very early stages of
development - in phase 0, and there is still a very long way to go until a complete transfer from the old chain to the new one occurs. Despite this, its impact on the market has already been felt due to its fast paced development. This is true especially in the DeFi space as Dr. Octavius, co-founder of the OctoFi DeFi protocol told Cointelegraph:
The end of 2020 has been huge for the crypto community. Not only was there a spectacular price surge across digital assets, possibly signaling the beginning of another bull market, but there was also the launch of Ethereum 2.0 beacon chain, which has been in development for some time.
The long-awaited update to the Ethereum blockchain transforms the network from a proof- of-work to a proof-of-stake consensus model and is intended to improve speed, security, lower transaction fees and fix the scalability issues that have been holding Ethereum back throughout 2020.
Ethereum 2.0 is still in the very early stages of
development - in phase 0, and there is still a very long way to go until a complete transfer from the old chain to the new one occurs. Despite this, its impact on the market has already been felt due to its fast paced development. This is true especially in the DeFi space as Dr. Octavius, co-founder of the OctoFi DeFi protocol told Cointelegraph: