Everything You Need TO Know About ETH 2.0 (BEST Upgrade?)

the next evolution of the internet is here and it's called ethereum 2.0 on december 1st some major changes are coming to the number two overall cryptocurrency this will be the launch pad for ethereum to achieve their mission of building the internet of value you're definitely going to want to listen to this one turkeys let's get it bid swap is the hottest new way to trade tokens following all the top decentralized exchanges bitswap gives you the very best price and value for your trades bitswap is changing the game try it now at bitswapdex.io welcome to bitboycrypto my name is ben everyday i show you how to make money in cryptocurrency if you like money then please make sure to hit that subscribe button and also don't forget to follow me on twitter at bitboy underscore crypto now today guys it's thanksgiving you turkeys so happy thanksgiving i'm definitely thankful for a lot of things bit squad is one of them so in today's video we will be discussing the latest evolution of the internet and everything you need in order to make it work for you do you remember the sound of the dialing up to aol i know i do remember how futuristic it seemed at the time but how archaic it feels now in hindsight crazy to feel so ridiculous technology is kind of funny that way it evolves and becomes easier to use over time and the more it evolves the more developers can create complex applications on top of it we certainly would not be sacrificing our parents landline to swipe right on tinder or maybe you are that sick in the head and you might look though i don't judge i mean look at me the point is this since the internet became easier to use we can utilize it to do all sorts of things and meet all kinds of friends however thinking about the internet that powered your compact presario versus the 5g connected world we live in now it's clear the technology has become easier to use over time that's what's happening to ethereum similar to how aol changed throughout different network upgrades aol 2.0 3.0 10.0 ethereum is also upgrading the first image on the right here is live raw footage from a real aol party currently the entire world of crypto is anticipating ethereum 2.0 the process which is said to have the potential to take up to two years to implement is set to begin december 1st however the price of ethereum in 2020 has gone up by an astounding 285 percent at the time of this recording the contract that was required to be filled with 524 288 eth for the upgrade to go through was just reached the first phase of ethereum 2.0 has now come and gone known as phase zero the critical mission of this phase was to establish and maintain the proof of stake consensus mechanism in eth 1.0 ethereum didn't have pos or proof of stake had proof of work the same consensus mechanism that bitcoin currently uses however now ethereum is validated by miners through the staking process for putting up their hard earned eath validators earn an apy an annualized return of 5 to 21 paid every 6 minutes however the more people staking the lower the yield the apy is also affected by downtime like when your server isn't running this is huge you want to be sure your server is always running in order to validate to become a validator you need number one strong internet connection number two powerful computer number three 32 eth right now it's worth about eighteen thousand dollars now when you stake your eath it becomes 2.0 eat so what does that mean exactly well i'm sorry to say that it means you can't turn 2.0 eats back into 1.0 ease in other words you can't take out your eath for a full two years after the upgrade is fully complete however now that there is a massive bull run would it be better to hold the e to stake or sell when the percentage grows past a certain point which of the two is more profitable well i guess that all depends on how high you think eath is going to go now ethereum has finally evolved past bitcoin in terms of consensus mechanism obviously bitcoin has used a proven work consensus since it was first conceived by satoshi or satoshi's if the two years have locked eth seemed like a long time to be holding heavy then wait until you hear this e 2.0 has actually been a plan in the works since ethereum was first founded in 2015.

At the time the update was referred to as serenity now five years after that initial inception point but two years before the actual e 2.0 upgrade is complete members of the ethereum ecosystem have a very serious decision to make will ethereum 2.0 be that much better than ethereum one of the largest points of consideration that will be improved is the scalability of ethereum as it currently stands 15 transactions can occur on the ethereum network per second however with this eth 2.0 upgrade sharding is set to enhance the speed of the network what is sharding well think of a light bulb when a light bulb breaks it breaks down into hundreds or thousands of shards similarly the ethereum network can be broken down into shards as well that way d5 exchanges can have their own shard and protocols can have their own chart as well the side chains operate in parallel without drawing energy from the main net and this will help ethereum improve into executing tens of thousands of transactions per second ethereum in its current state is so slow because every single full node must validate all ethereum transactions and then store the entire state of ethereum a main goal of ethereum is to host all economic activity worldwide so a global financial platform like that cannot be weighed down however that has been the case these last few years for example one of the largest culprits ever of weighing down the ethereum network was the non-fungible token game cryptokitties this kitten breeding game that the crypto universe fell in love with circa 2017 was a downfall to the network network congestion is probably the largest factor that is impeding ethereum's growth right now that being said if eth 2.0 can step up and deliver as much as the hype train is saying then who knows maybe it is worth it to have 18k locked up for a fifth of a decade yes a fifth of a decade i said it it's a long time think about it so what do you guys think will you annie up the 18k and become an e 2.0 validator or is it better to just sell the eth now during the current bull run if you got the skrilla drop me a comment below to tell me what the move is i understand for a lot of you guys this will be a very serious decision and on this channel we specialize in seriousness that's all i got be blessed boy out [Music] you

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