{"id":377764,"date":"2021-12-07T19:03:33","date_gmt":"2021-12-07T16:03:33","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/coinbase-adds-eth2-despite-tomorrows-ethereum-upgrade-postponing-difficulty-bomb\/"},"modified":"2021-12-07T19:03:33","modified_gmt":"2021-12-07T16:03:33","slug":"coinbase-adds-eth2-despite-tomorrows-ethereum-upgrade-postponing-difficulty-bomb","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/coinbase-adds-eth2-despite-tomorrows-ethereum-upgrade-postponing-difficulty-bomb\/","title":{"rendered":"# Coinbase adds &#8216;ETH2&#8217; despite tomorrow&#8217;s Ethereum upgrade postponing difficulty bomb"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2f27cc40eee\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2f27cc40eee\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/coinbase-adds-eth2-despite-tomorrows-ethereum-upgrade-postponing-difficulty-bomb\/#Before_Ethereum_20\" >Before Ethereum 2.0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/coinbase-adds-eth2-despite-tomorrows-ethereum-upgrade-postponing-difficulty-bomb\/#ETH2_is_not_a_new_crypto\" >ETH2 is not a new crypto<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Coinbase adds &#8216;ETH2&#8217; despite tomorrow&#8217;s Ethereum upgrade postponing difficulty bomb  <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Cryptocurrency exchange Coinbase has <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinbase.com\/price\/ethereum-2\">added<\/a> a mirrored version of the Ethereum blockchain&#8217;s native token Ether (ETH) to its crypto price index, just ahead of a key network upgrade on Dec. 10.<\/p>\n<p>Dubbed &#8220;ETH2,&#8221; the symbol <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared to have been tracking the original Ether market data synchronously. For instance, the cost to purchase ETH2 came out to be the same as that for ETH. Meanwhile, their market capitalization, volume, circulating supply, and price changes were also identical.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Coinbase is already promoting eth2 as a new coin? <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/C67UxooLU0\">pic.twitter.com\/C67UxooLU0<\/a><\/p>\n<p>\u2014 Nuno (@nvcoelho) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/nvcoelho\/status\/1467885104043376647?ref_src=twsrc%5Etfw\">December 6, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nNonetheless, unlike the original, the ETH2 token had no Trading Activity, Popularity Score, or Typical Hold Time, underscoring that its role \u2014 for now \u2014 is to merely track the ETH market data at least until mid-2022.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-12\/81362899-098b-4113-afce-2fb0a67edeb8.jpg\"><figcaption style=\"text-align: center;\"><em>ETH vs ETH2.0 market data. Source: Coinbase<\/em><\/figcaption><\/figure>\n<p>That is probably as ETH2 seems to have been posing as the native token of Ethereum&#8217;s ongoing upgrade, dubbed Ethereum 2.0, which expects to go live fully by June 2022. But the Coinbase&#8217;s index listing appears closer to &#8220;Arrow Glacier,&#8221; a fork that would give developers more time to prepare for Ethereum 2.0.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Before_Ethereum_20\"><\/span>Before Ethereum 2.0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Arrow Glacier update aims to delay a so-called &#8220;<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ethereum.org\/en\/history\/#arrow-glacier\">difficulty bomb<\/a>,&#8221; an incentive hardcoded inside the Ethereum blockchain since its launch in 2015, which would make it difficult for people to mine Ether. In doing so, the BOMB, if triggered, would slow down the Ethereum network, for as long as it remains proof-of-work.<\/p>\n<p>Tim Beiko, one of the core developers working on the Ethereum upgrade, noted that Arrow Glacier might be the last upgrade before Ethereum 2.0 goes live next year. Meanwhile, Coinbase appears to have been treating the Arrow Glacier fork as a confirmation that they would exist a new token called ETH2 after the Ethereum 2.0 upgrade.<\/p>\n<p>In detail, Ethereum 2.0, also known as &#8220;Serenity,&#8221; would enable significant changes to its design, including a full-scale transition from energy-intensive Proof-of-Work (PoW) \u2014 also used by Bitcoin (BTC) \u2014 to Proof-of-Stake (PoS).<\/p>\n<p>In the current version, nodes must validate every transaction to maintain Ethereum&#8217;s public ledger. But the Ethereum 2.0 upgrade would launch &#8220;sharding,&#8221; which would divide the network into various segments (called shards) and would randomly assign nodes to each shard. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-12\/a100f671-5d23-4a6d-9e97-934ca155c17f.jpeg\"><figcaption style=\"text-align: center;\"><em>Beacon Chain and Sharding. Source: Vitalik.ca<\/em><\/figcaption><\/figure>\n<p>That would remove the need for each node to scan the entire chain, theoretically improving the speed and costs required to maintain the network. Meanwhile, individual shards would share the transaction details with a so-called Beacon Chain, which serves as the backbone of Ethereum 2.0.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"ETH2_is_not_a_new_crypto\"><\/span>ETH2 is not a new crypto<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Beacon Chain, which went live in December 2020, would validate the transactions on each shard, thus assisting the entire Ethereum 2.0 network reach consensus. It would also detect dishonest validators and initiate penalties by removing a portion of the validator&#8217;s stake from circulation.<\/p>\n<p><strong><em>Related:\u00a0Vitalik Buterin outlines \u2018end<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a>\u2019 roadmap for ETH 2.0<\/em><\/strong><\/p>\n<p>At the core of Ethereum 2.0&#8217;s PoS design would be ETH (or ETH2), which primarily serves as a staking token for validators to participate in the network consensus and, in turn, to receive block rewards for it. <\/p>\n<p>Beacon Chain&#8217;s deposit contract has received over 8.42 million ETH tokens from 55,300 unique depositors (validators) since its launch in December 2020.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-12\/aa83348f-a3b7-4ec3-b1a1-e3ceecc86d6e.jpeg\"><figcaption style=\"text-align: center;\"><em>The balance of the Ethereum 2.0 deposit contract divided by the total ETH supply. Source: CryptoQuant<\/em><\/figcaption><\/figure>\n<p>That being said, ETH2 is not a new coin and would not change the ETH amount one holds. Instead, as Coinbase&#8217;s index listing suggests, ETH2 may end up becoming a rebranded version of the original Ether, without needing holders to swap one version for another.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/coinbase-adds-eth2-despite-tomorrow-s-ethereum-upgrade-postponing-difficulty-bomb\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Coinbase adds &#8216;ETH2&#8217; despite tomorrow&#8217;s Ethereum upgrade postponing difficulty bomb &#8221; Cryptocurrency exchange Coinbase has added a mirrored version of the Ethereum blockchain&#8217;s native token Ether (ETH) to its crypto price index, just ahead of a key network upgrade on Dec. 10. Dubbed &#8220;ETH2,&#8221; the symbol appeared to have been tracking the original Ether&#8230;<\/p>\n","protected":false},"author":1,"featured_media":377765,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTIvZjNmM2JiZmYtNTM4Zi00MzIzLTg4NmQtMWZiNmQ4Zjc2ZmJhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[82402,74891,75326,74938,78425,75150,74876],"class_list":["post-377764","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-ether-price","tag-ethereum","tag-ethereum-2-0","tag-ethereum-price","tag-hard-fork","tag-market-update","tag-proof-of-stake"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/377764","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=377764"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/377764\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/377765"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=377764"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=377764"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=377764"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}