Why is ETH pending in POS (ETH has been pending all the time)
Why does ETH adopt POS, according to ethnews? ETH\’s consensus algorithm is the
Why does ETH adopt POS, according to ethnews? ETH’s consensus algorithm is the same as proof-of-work (POW). Running a node under PoW requires a large amount of computational resources and storage space to ensure the security, reliability, and stability of the network. However, when a new block appears, forks or hard forks may occur: when we do not have enough data for transactions; because the blockchain is open source and has existed for many years, many miners choose to join it.
ETH has been pending
Editor’s note: This article is from Odaily Planet Daily and is authorized to be reproduced.
In the past month, ETH has been pending, from the initial 1 million ETH to the current 5 million ETH, and now the new ETH supply is increasing every day to make the network healthier. With the recent rise in ETH prices and more and more people joining, what does this mean for the community? We know that ETH is currently ranked 13th in market value and is the fastest growing project, but its main network has encountered some problems even before it goes online. However, if the first half of 2018 was a bear market, the beginning of 2019 was a bull market. The latter half of 2020 is one of the months after Ethereum 2.0 Phase 0 (Beacon Chain) was launched. The low point in 2017 happened at this time. Therefore, it is natural to believe that the second half of this year will be a bull market.
So why does ETH have to continue for a long time? Because ETH generates a large number of fees every year, it needs to be paid to developers and users to start running new smart contracts. However, due to the high costs, many applications cannot work properly. For example, Metamask, most applications may not have an active wallet user base, or only use a small number of wallets or services.
To solve this problem, Vitalik Buterin proposed a new concept called “serenity.” He called it “serenity.” That is to say, “serenity” refers to something that everyone can freely exert their wisdom to build. “Calm” refers to something that can truly own and control its own time, rather than someone’s ability to change it, making it a true self-realization idea. “When you want to create a new blockchain, you can link them together, and you don’t need to rely on a single application-like all decentralized finance protocols, applications, or DeFi protocols on platforms like Ethereum, but establish connections between them, just like you use credit cards to buy goods. In other words, you don’t have to worry about your account balance being locked in a smart contract, and your assets will not be locked in a smart contract forever. This is a very exciting feature: you can view all transaction records at any time through validator signatures. In addition, as long as you have an account, you can obtain proof, so you can easily complete tasks. If you are building this software, make sure your device is offline (usually not online).
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