RATE Group | Why Enterprises Are Paying Attention As Ethereum 2.0 Unfolds
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Why Enterprises Are Paying Attention As Ethereum 2.0 Unfolds

28 Oct Why Enterprises Are Paying Attention As Ethereum 2.0 Unfolds

Posted at 22:04h in Ethereum News by

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Enterprises that are building on Ethereum have a reason to celebrate, as the new-and-improved Ethereum 2.0 is moving forward. Just a couple of weeks ago, the largest Ethereum development event, DevCon 5, was held in Tokyo and more details about the upcoming protocol upgrade were announced. The changes are significant and will improve important properties like transaction speed, scalability, and finality. However, they also present some risks related to building on open-source technology developed by multiple teams.

What exactly is Ethereum 2.0, why is it necessary, and can this risk of breaking existing applications and wiping out the current $19B market cap be avoided?

The current Ethereum protocol, while considered successful so far, has been prone to several major issues. Specifically, its increasing storage requirements and performance degradation are raising red flags on CIOs’ decision charts.

The newly proposed Ethereum 2.0 upgrade will eliminate many of the existing…

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