"Ethereum Upgrade: The Latest Developments in China's Ethereum Community"
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Frank
How to use Ethereum (Ethereum upgrade) in China and how to ask for help in English?
2023-06-09 05:24
Answer list:：
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Egil
Ethereum is a decentralized platform for building blockchain-based applications. Its main innovation is the smart contract, which is a computer program designed to facilitate, verify, or enforce the negotiation or performance of a contract. Ethereum provides a virtual machine, called the Ethereum Virtual Machine (EVM), which runs these smart contracts. Ethereum also has its own cryptocurrency, called Ether (ETH), which is used to pay for transaction fees and computational services on the network.
Recently, Ethereum has undergone a major upgrade, called Ethereum 2.0, which aims to improve the network's scalability and security. The upgrade involves switching from a proof-of-work consensus algorithm to a proof-of-stake algorithm, which reduces energy consumption and increases transaction processing speed. It also introduces sharding, which splits the network into multiple smaller chains to increase throughput. Additionally, Ethereum 2.0 introduces new features, such as the ability to earn interest on staked Ether, and a new programming language, called Solidity.
Release time 2023 06 09