The flagship dapp platform Ethereum has been undergoing several upgrades to relaunch as Ethereum 2.0, featuring its Constantinople and Serenity upgrade. Developers have been sprinting for months now to scale to the platform’s next and final developmental milestone.
Notification of the update was released on GitHub. The Ethereum developers’ community explained how this is the first release – dubbed the Phase 0 pre-release – which is approaching stable, and that also, more updates will be released through the month of February.
The Ethereum 2.0 update, as a series of updates is expected to lead to a more efficient, faster and scalable Ethereum. The scaling will feature Sharding, Proof of Stake, and eWasm.
The Constantinople update was scheduled to be released earlier, however, the road to the transition has not been exactly smooth. A failed testnet launch occurred back in October 2018 which caused a minor ruckus in the community as a conflict of interest between miners and investors may have ensued, but the developers are working tirelessly to ensure the upgrade works. Secondly, in January, there was a vulnerability in the smart contract code when it was being audited and the initial release had to be delayed to effect the necessary changes.
Serenity is an important and last upgrade for the Ethereum dapp platform which is essential for it to mark the hallmark of its development as it moves from the proof of work to proof of stakes consensus. Perhaps, Ethereum will see new price gains in its new outlook.
Ethereum has so far suffered a huge price loss from its all-time high of USD 1,400 and now trades at USD 107 at press time. Moreover, it is now ranked as number 2 altcoin by market capitalization with Ripple coin overtaking.
Ether began hitting new levels of low late last year, probably due to a host of scaling problems on the network as well as smart contract and alternate dapp development environments being introduced by competitors. It would seem that there are high expectations of a reversal in the downtrend once the full version has been released. So this is good news for Ethereum-based dapps and supporters.
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