\u201cI don\u2019t expect Proof of Stake and Ethereum 2.0 to happen before the end of 2021 at the earliest.\u201d<\/em><\/p><\/blockquote>\n\n\n\nLubin did shed some light on how Ethereum developers are planning to manage the currency\u2019s transition without implementing a hard fork, which has been the traditional approach to massive coin overhauls. Rather than forking the blockchain into multiple currencies, Lubin claims that the new chain could be merged with the old, allowing tokens to move through \u201cbidirectional mechanisms\u201d onto the Proof of Stake platform. <\/p>\n\n\n\n
Ethereum\u2019s co-founder also defended the security of Proof of Stake, debating another point that was raised by Selkis. While Proof of Work has been rigorously tested as the algorithm of Bitcoin and other major cryptocurrencies, Proof of Stake has yet to be implemented on a similar level of scale. Lubin stated that PoS was thoroughly researched by teams prior to ETH devs making the decision to transition away from PoW, and claims that Etherum 2.0 will be adding new features to the blockchain to make it more compatible than previous iterations.
<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum co-founder Joseph Lubin has made the claim that his currency will achieve an exponential increase in scalability over the coming years. Speaking in an interview with CoinTelegraph, Lubin stated that ETH scalability–the most prominent issue to be addressed in the massive Ethereum 2.0 overhaul–will improve by 1,000 times in the next 18 to 24 months. Lubin highlighted the Ethereum 2.0 update, also codenamed Serenity, as the primary driver for the increase in scalability. Despite the growing landscape for cryptocurrency, […]<\/p>\n","protected":false},"author":31,"featured_media":42128,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[823],"tags":[1322,6988,6347,6226,1898,6599,6224,3824],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/42127"}],"collection":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/users\/31"}],"replies":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=42127"}],"version-history":[{"count":0,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/42127\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media\/42128"}],"wp:attachment":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=42127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=42127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=42127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}