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The #Ethereum #proofofstake #phase0 #beaconchain is getting close to launch!
So what?
Here's a thread to explain why millions of dollars of #ETH are being moved into this state of the art gadget, what makes it different from other #PoS systems, and why it was worth the wait!
So what?
Here's a thread to explain why millions of dollars of #ETH are being moved into this state of the art gadget, what makes it different from other #PoS systems, and why it was worth the wait!
First things first: even though the #beaconchain is being referred to as an #eth2 or "Ethereum 2.0" technology, it does not exist to replace the current Ethereum Virtual Machine we know and love as "Ethereum 1.0" today. If you're using the EVM, you're fine. It's not going away.
Instead, the beacon chain is a gadget that was planned even from before the launch of "Ethereum 1.0" to be swapped in for the #proofofwork system, called "Ethash", which currently secures that same EVM environment.
blog.ethereum.org/2014/10/03/sla…
blog.ethereum.org/2014/10/03/sla…
