V God: Phase 0 of Ethereum 2.0 will be launched, and PoS will eventually become a reality

Last Friday, at the Ethereum core developer meeting, it was temporarily decided to redefine the mining algorithm as "Ethash2.0". Discussions initially centered on the technical feasibility of ProgPow, citing vulnerabilities outlined by independent auditors and researchers.

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One-hour candlestick chart of Huobi ETH

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Golden Finance & Spider Pool mining data broadcast

However, such a wave of market prices did not affect the enthusiasm of ETH miners. According to the mining data of Spider Mine Pool, the total network computing power of ETH today increased by 2.58% compared with yesterday. This shows that users' recognition of ETH has also consolidated the Ethereum team. Confidence in upgrading Ethereum 2.0 Phase 0.

V God, the co-founder of Ethereum, said in an interview that Phase 0 of Ethereum 2.0 will be launched this summer, and Proof of Stake (PoS) will finally become a reality. He said he expects ZK-rollups and Loopring to make great strides in improving the efficiency of their proofs.

"I expect these two technologies to have a huge impact in the next year or so."

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(Image source: Decrpyt)

On March 7, Vitalik also discussed the development prospects of Ethereum in 2020 at the ETHLondonUK conference. He said that Ethereum will deploy sharding technology as early as this year, which will increase the size of the Ethereum network by "100 times or even hundreds of times." Additionally, Ethereum's ecosystem will "increase privacy" over the next year.

The Ethereum ecosystem will "enhance privacy" next year. To be sure, there is a growing awareness that actions on the Ethereum network need not be publicly linked to all other actions. Like Tornado Cash, it can realize the privacy transactions of Ethereum users.

Given the recent problems with "flash loans" where people profit from price oracles. V God believes that there is still a lot of work to be done on decentralized oracles that obtain information in a trustless and decentralized manner. More "different types of oracle designs" should be done to make them "safer and more decentralized".

Although ETH has been correcting for the past few weeks, the top 100 holders of ETH have once again started accumulating a higher share of the total supply. When this accumulation starts to increase, it is usually a bullish sign.

The impact of these wallets accumulating ETH may not immediately translate into bullish price moves. But this trend shows that ETH stakeholders believe it is important to hold the native token of the Ethereum network. (Investment is risky, investment needs to be cautious)