Whats the big difference between ETH1.0 and ETH2.0?

[MercySmith]

ETH1.0 is one blockchain. ETH2.0 will be multiple blockchains shards connected by a manager blockchain beacon chain that also handles ALL the mining which wont be mining anymore due to the switch to staking. ETH will live in this ecosystem of chains, and you will be able to swap it easily between all the chains. No separate coins. The beacon chain does not allow smart contracts because its job is chain management, not having user content. Smart contracts live on the shards instead. ETH2.0 wont be introduced all at once. The plan is to launch the beacon chain first, but without using it for anything. It will gradually develop more features, and shards will be introduced slowly over time. ETH1.0 will be deprecated once ETH2.0 is far enough to replace it.

Wow. You must really have vast knowledge on crypto currency. Actually this is my first time hearing of ethereum 1.0 not to talk about Ethereum 2.0l. Thanks for sharing. This is one advantage of this platform.

 

[Damscooguns73]

Concerning the difference between the cryptocurrency ethereum 1.0 and ethereum 2.0. Well, to start with, both ethereum 1.0 and 2.0 are digital currency built by blockchain but 2.0 operates on multiply blockchain which is done to enhance the efficiency and speed of transactions carried out on ethereum coin

 

[Onachukwu]

In essence, everybody could become a miner on the network if they wanted to, but the chance of actually profiting by doing this is slim. Purchasing the amount of hardware needed to profitably mine on Ethereum would far surpass the incentive to do so, as there are a plethora of costs that are associated with mining, e.g. electrical costs, initial costs of hardware, fees from mining pools, and even tax obligations in some jurisdictions.

 

[Abdul Naveed]

As final preparations begin for the launch of Ethereum 2.0, which will begin with a deposit contract and test intent that should be out soon, many are wondering if there are two different coins with different prices. Will

 

[Ehizzy1]

The difference between eth2.0 and ethv1 is that the other one which is eth2.0 is mostly used for staking i think ,while the ETH v1 is used for the normal trading and sending or receiving ethereum i thin , but i noticed that despite the creation of ETH v1 and Ethv2 i think the gas fee is still high

 

[Abbeyola]

Ethereum reverted from Ethereum1.0 to Ethereum 2.0, in order to make the coin fasting up transactions and not slowing down when their is plenty of transactions to process just the way the previous one was doing. When their is congestion based on multiply request to process transactions the Ethereum1.0 will slow down the processing. Which causes delay before the coin gets to the destination you approved it. That's why Ethereum owners created the 2.0 type to rectify such lingering issues around their blockchain.

What other big difference do you know about ETH1.0 and ETH2.0??

Seriously,I never new that crypto currency has grade until now that I saw your post on etherum one and etherum two.
But,I think etherum one is the first one that is commonly used,while etherum two is the new one that is currently being used.

 

[Eodine]

Well, I think it's general knowledge that ETh 2.0 is and advancement of ETH 1.0 as the management itself said it that due to the flaws of ETH 1.0 the second version was created but is there anyone here that has made use of it?

 

[Samuel77]

As for me I don't really know much about ethereum1.0 or ethereum 2.0, this is the first time I am hearing about this, I see this as a good idea. I will make more research

 

[Sincerem]

As for me I don't really know much about ethereum1.0 or ethereum 2.0, this is the first time I am hearing about this, I see this as a good idea. I will make more research

Go and make more research about the two coins. But in my little understanding, ETH 1.0 is the older version of Ethereum coin, while the 2.0 is the latest. It is faster in processing transaction, and it covers multiple requests at same time more than the previous version.

 

[Akinwale701]

Ethereum reverted from Ethereum1.0 to Ethereum 2.0, in order to make the coin fasting up transactions and not slowing down when their is plenty of transactions to process just the way the previous one was doing. When their is congestion based on multiply request to process transactions the Ethereum1.0 will slow down the processing. Which causes delay before the coin gets to the destination you approved it. That's why Ethereum owners created the 2.0 type to rectify such lingering issues around their blockchain.

What other big difference do you know about ETH1.0 and ETH2.0??

I think the difference lies in the transaction fee and the time of processing the transaction. Ethereum has-been known to be a coin with high transaction fee.

 

[Sincerem]

I think the difference lies in the transaction fee and the time of processing the transaction. Ethereum has-been known to be a coin with high transaction fee.

The big difference isn't in transaction fee charges, rather it is centred on fastness and processing plenty requests one time. The ETH 1.0 is slower and doesn't process much transaction request like the ETH 2.0 version.

 

[Bookwormlux]

All I can say is the difference between Eth 1.0 and Eth 2.0 is that the latter is an upgrade on the former. It was said that Eth 2.0 makes transactions to be more faster and less fees are required to be paid on a Eth2.0 unlike Eth 1.0 that has higher transaction fees and is very slow to process transactions.

If this is the case, then it would be better for me to use eth2.0 because the fees of eth1.0 is really discouraging and it has made me to stop anything that has to do with Ethereum generally.

 

[Dubai]

Ethereum 2.0 should be an upper-grade version of the former version. It should have some special ability that the former does not have. Features like speed in transaction.

 

[Sincerem]

Ethereum 2.0 should be an upper-grade version of the former version. It should have some special ability that the former does not have. Features like speed in transaction.

Yes, it has a genuine purpose it is serving that's why Ethereum company created it to serve where the older version failed to handle effectively.

 

[Ronald03]

The ETH 2 should be the second version of the ethereum network , i know about that very well ,while the ETH 1 should be the first , i think the eth2 was created for ha fee reduction

 

[Sincerem]

The ETH 2 should be the second version of the ethereum network , i know about that very well ,while the ETH 1 should be the first , i think the eth2 was created for ha fee reduction

Ethereum 2 is the new version of the Ethereum coin. It was created not because of high gas fee, already Ethereum gas fee is still high even in this new version. It helps to process transactions quicker than the older version.

 

[Ronald03]

Ethereum 2 is the new version of the Ethereum coin. It was created not because of high gas fee, already Ethereum gas fee is still high even in this new version. It helps to process transactions quicker than the older version.

Ethereum 2 is the new version of the Ethereum coin. It was created not because of high gas fee, already Ethereum gas fee is still high even in this new version. It helps to process transactions quicker than the older version.

Ypu are right but I made my findings and i found out that it was made for staking and this should also help reduce the amount of transactions on the network ,thereby reducing the gas fee

 

[Sincerem]

Ypu are right but I made my findings and i found out that it was made for staking and this should also help reduce the amount of transactions on the network ,thereby reducing the gas fee

But that never reduced the Ethereum gas fee up to this moment. Unless you're converting your ETH to binance smart chain network. Then you'll be charged lower gas fee.

 

[Sotherefore]

Wow that's really nice that means you are a deep researcher,I never have an understanding that such thing do exist what I have been understanding is that ethereum is just an ethereum just like bitcoins and other cryptocurrencies are having their own blockchain.

 

[Sincerem]

Wow that's really nice that means you are a deep researcher,I never have an understanding that such thing do exist what I have been understanding is that ethereum is just an ethereum just like bitcoins and other cryptocurrencies are having their own blockchain.

Ethereum is high in gas fee, you can only control the gas fee when you're using Bep-20 address via binance smart chain network to command the transaction, that's when you'll be charged at an affordable rate