Cryptocurrencies

Ether (ETH) November 27, 2020 to December 4, 2020 – The Benefits of the Beacon Chain – Cryptocurrencies

Physical Ethereum (ETH) coin on white surface.

The period from November 27, 2020 to December 4, 2020 was marked by the launch of the beacon chain and its impacts on the price of Ether (ETH). The new version of Ethereum has already had the opportunity to demonstrate its strength, slashing validators who have flouted the rules in place.


Update above 600 USD

The Ethereum 2.0 beacon chain was finally launched on December 1, 2020. TheEther broke the $ 600 mark the day before, and climbed above $ 615.

Its price corrected the next day, when phase 0 of theETH2, to close below $ 600.

TheEther closed again above $ 615 on November 3, 2020 before being rejected yet again. It is trading at 589 USD as of this writing.

The launch of theEthereum 2.0 boosted the adoption rate ofEther. The number of addresses containing at least 10,000 ETH reached a new 3-month high of 1,062 on November 27, 2020.

The number of addresses ETH with a non-zero balance has meanwhile exceeded 50 million.

ETH wallet Ether address zero balance

Source : Image via Twitter

Ethereum 2.0 shows its big arms

According to data from BeaconScan, a validator ofEthereum 2.0 underwent the first slashing on December 2, 2020.

Slashing is a mechanism to deter attacks on the network by penalizing and exiling validators with inappropriate behavior.

Ethereum ETH 2.0 slashing

Source : Image via BeaconScan

According to Vitalik Buterin, this mechanism confers an advantage in terms of safety for theETH2 functioning with a Proof of Stake, compared to theETH based on Proof of Work.

A malicious miner could attack the original version ofEthereum, by increasing its hash power.

With l’ETH2, a validator violating even once the rules are in place, would simply be slashed.

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Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.

Ether is currently facing resistance at the $ 615 level. ETH bulls managed to defend the 585 USD following rejections at this resistance line. Thanks to the launch of the beacon chain, the number of ETH nodes had surpassed that of Bitcoin (BTC). The rate of Ether adoption has also boosted. Ethereum 2.0 wants to be much more robust in terms of security by punishing deviant behavior. The Proof of Stake wants to prove itself, but it is too early to say how effective it really is.

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