RATE Group | ETH 2.0 challenges Bitcoin’s dominance and XRP eyes the next bullish leg
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ETH 2.0 challenges Bitcoin’s dominance and XRP eyes the next bullish leg

14 Oct ETH 2.0 challenges Bitcoin’s dominance and XRP eyes the next bullish leg

Posted at 10:04h in Ethereum News by

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  • The migration towards a PoS structure in Ethereum challenges Bitcoin’s leadership.
  • XRP enters a very bullish scenario in the short term.
  • Bitcoin encounters strong resistance lines above $8,500.

 

The main headline after the weekend is the major announcement by Vitalik  Buterin. The creator and visible head of the Ethereum ecosystem bet that the Ethereum 2.0 network will be safer than the Bitcoin network. 

The Ethereum network will soon migrate to a PoS (Proof of Stake) structure from the current PoW (Proof of Work) protocol.

In PoW architectures, such as Bitcoin or Ethereum 1.0, miners/validators compete for more computing power to be the first to validate a transaction and get the reward.

In PoS architectures, the miners/validators “stakes” their Ethereums and, with it, acquire calculation rights over the same percentage that their tokens represent over the total in circulation.

The PoS architecture eliminates a competition factor that makes…

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