RATE Group | Ethereum’s New Serenity Protocol Lowers the Cost of Running Staking Nodes
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Ethereum’s New Serenity Protocol Lowers the Cost of Running Staking Nodes

21 Nov Ethereum’s New Serenity Protocol Lowers the Cost of Running Staking Nodes

Posted at 21:27h in Ethereum News by

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Ethereum’s new Serenity update, which will enable the network to transition from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) consensus model, has been generating a lot of hype in 2018. Apart from addressing the problem of scalability, the new chain also drastically reduces the cost for running a staking node in Ethereum 2.0, it was unveiled in a tweet on Nov. 20, 2018.

Protocol Update Lowers the Cost of Staking

In a rapidly declining crypto market, news about technical updates to some of the most popular blockchain networks out there has a tendency to go under the radar.

On Oct. 31, Ethereum co-founder Vitalik Buterin spoke about the Ethereum 2.0 upgrade and the basic idea behind the new platform during the Devcon4 conference in Prague.

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He spoke about Serenity, the Proof of Stake (POS) protocol that the platform will be using for the Ethereum 2.0 upgrade. Very little technical details were given about…

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