Ethereum is soaring high with other cryptocurrencies as the world continues to realize the potential of digital coins in the future. With a double-figure climb in the percentage of its value, you can be sure that this cryptocurrency is here to stay. While the value of this digital coin has only gotten better with time, there is a huge concern about its viability in the modern world. With more than seven billion people living on this planet and many of them relying on cryptocurrency transactions, you can’t really serve a huge purpose with only 3000 transactions taking place every second.
Speeding up with Eth2
Eth2, which stands for Ethereum 2.0, is going to resolve the matter of transactions pretty soon. Right now, Eth2 has not arrived, but predictions have already been made about the speed of transactions once it does. Do keep in mind that this will only be the initial version of Ethereum 2.0. It is only going to get better with time. If the implementation of Eth2 is successful, Ethereum lovers will be able to complete 100,000 exchanges, sells, buys, etc. of Ether in just one second. This is going to solve a huge problem that has been haunting the creators of digital currency for some years now.
Things Getting Safer
When you are in the online digital currency trading world, you constantly keep thinking about the safety of your investments. There is no doubt about the fact that in the past, many exchanges have disappointed the investors in these modern currencies. They were not serious with their businesses and caused millions of dollars of losses to people who invested their life savings in digital currency trading. Today, things are getting better with time, but they will get better faster when Ethereum 2.0 arrives. Once the second generation of this revolutionary cryptocurrency comes into effect, it will bring with its proof of stake.
If you have been a fan of Bitcoin, you might want to know that the biggest downfall of the biggest cryptocurrency in the world is its proof of work, which is not safe for many reasons. The 51% attack is the best example of how the PoW can be compromised on any cryptocurrency that’s using the PoW model. Not to mention the fact, an attacker can choose to attack the PoW model of Bitcoin as many times as they want. That’s not going to happen when Ethereum has started to use Proof of Stake. That’s when things will become even safer. How? Well, if you are a validator on the Ethereum network that uses the PoS model, you will suffer big financial losses if you attack it.
You could lose everything that you have made as a part of the Ethereum network if you are caught red-handed trying to tamper with the network. Do keep in mind that the creators of the second-best cryptocurrency in the world have now created a team only to protect the integrity of the digital coin.
What Does Future Hold for New Traders?
Well, if you have been thinking about putting your investments in the digital currency market, now is the best time to do so. More importantly, if you have always been interested in trading Ethereum, you will not find a better opportunity than right now to make use of this cryptocurrency. It is rising high and also oozing positive news and sentiment because of all the news about the launch of Ethereum 2.0. The next step for you should be to find an online broker that can help you trade digital currencies. If you are looking for one, you should definitely consider Global CTB among the options.
Digital currencies are here to stay. 2020 has been a very tumultuous year for the entire world. However, this year has also shown the power of digital currencies. The future belongs to digital currencies, and if you are thinking about making an investment in the future, you are highly recommended to start with digital currencies rather than other conventional assets.