Hello friends, I welcome you to your YouTube channel Everything Hindi. Friends, today we are going to talk to you about Ethereum 2.0. There have been a number of issues with Ethereum as it operates today. Like about its speed, its transaction fee and many issues have been created due to which people call Ethereum outdated in today's date. Everyone Says There's A New Coin By The Name Of Ethereum Killer So isn't Ethereum preparing for all these things? It is absolutely preparing and preparing like this and for a long time to come, no one will say that I am the Ethereum killer.
Because Ethereum is going to go to such a high height, we will talk about that in this video, so let's start the video. Friends, I am today and today I am going to talk to you about Ethereum 2.0. Before knowing Ethereum 2.0, let me give you a disclaimer, this video is made for you only for educational purpose. The purpose of making this video is not that you go and invest in ethereum, this is just we are making a video to let you know about the upcoming updates on ethereum.
Whatever investment you want to make, ask your financial advisor whether I should invest in Ethereum or not. Here we are just going to tell you what could be the future of Ethereum. First of all, let's talk about Ethereum, which we and you are buying and storing in today's date. That is, about Ethereum 1.0, the Ethereum that you have and we have and which is being sold in the market, then there is an issue with that. By Vitalik Buterin's when it was created. When it was built, it was fine according to that time, like the roads which are today, they were proper for some time but in today's date, there is more crowd on them. So today there is a traffic jam on the same road and many more issues come. In the same way, when Ethereum was first created, it was normal and ran smoothly. Transactions have increased in today's date, due to which 15 transactions in 1 second which Ethereum supports today are not working. Because many more networks have come faster than that which are doing very fast transactions.
Another issue is the transaction fee. Means anytime you want to send any token from one place to another using the network of ethereum. So you are compelled because it is built on the Ethereum platform. So you can choose the network of Ethereum only. And the gas fees there are very high because there are too many loads added transactions on ethereum. So if you give extra tips to those who are their miners, then your transaction will be quick, otherwise, the transaction hangs for 5-6 hours. This is an issue going on in which those who still do normal transactions have to pay more transaction fees, this is a big mistake. The third is that till now 90% of the coins were made on Ethereum's platform, meaning whatever new token used to come, it used to come on Ethereum's platform itself, but in today's date, everyone is not wanting to choose this because of the transaction fee and speed. To overcome this, the founders of Ethereum have taken a new decision that now it should be updated and its new version 2.0 should be brought.
So what will happen to them which we are holding now means what will happen to the ethereum we have bought with us now. When it comes to 2.0, a swap option may come in it, meaning it is currently being summed up. Meaning it should be swapped in 2.0. Or it may be exchanged automatically, as Binance often gives, automatically transfers it from its old version to the new version. In this way, many such options can come, for this you do not have to worry about anything in today's date. You are holding now Buying, Selling, When do keep doing it and when 2.0 will come which we will tell you in this video how it will come and when it will come Here you do not need to take any tension, it will all be automated, whoever is the founder of ethereum has made all the planning what will happen with ethereum.
Now let's talk about what is special you will get to see in Ethereum 2.0, the first thing that is special will be the speed of the transaction. Like in today's date the speed of Ethereum is 15 transactions in 1 second and when Ethereum 2.0 will be updated at that time its speed will be 100000 transactions per second. This speed is a very long jump and a big jump for Ethereum. After that Ethereum is working on Proof of Work as of today. There is mining of ethereum, many miners validate the transaction of what is there, after that the transaction is completed and the block of ethereum is generated But when Ethereum works on Proof of Stake, then the people who are the stake holders will mine them.
The video above is coming to know how all that happens and in what way it happens. What we have made on proof of stake and work, understand comfortably and after that continue this video because it is going to be a big change. It seems too small to say that a Proof of Work will lead to Proof of Stake but it is a huge challenge. Now understand that thousands of people are doing mining and electricity is also going into it and their hardware is also going to software.
But now all these things will turn into proof of stake and watch the video I have told to know about their difference. This is going to be a huge change, for this it will take time off at least 2 years. Because this change is not small and Ethereum transactions are going to go on, nothing is going to stop. And yet this thing has to be implemented and it is a very big thing that is going to change. You may remember that in 2017 there was a game running in the USA by the name of Crypto Kitty, in 2017 they did an NFT listing on the platform of Ethereum.
And she became very popular but she failed because the problem that came with her was that the transaction fees of Ethereum seemed so high, then those who were fans of crypto kitty used to get depressed that by paying such a high transaction fee, we could use crypto. If you buy a kitty's NFT then it is of no use. Because the NFTs that are becoming popular today, which Binance is bringing or WazirX is bringing, would have become popular only in 2017 if the system of Ethereum which supported it well, then the NFT which we are seeing being implemented today is the first It would have already been done well.
Now let's talk about when Ethereum 2.0 is going to be launched or when we will get to see it in our wallet or in the exchange and when we can buy it. The phases have been divided into 4 phases, when these four phases are completed, Ethereum 2.0 will come in front of you. What is the need for the phases of Ethereum 2.0? What they need is the stakeholders i.e. the people who will stake their Ethereum and then all the process of Ethereum starts. Because ethereum 2.0 will be tested many times before launch like iPhone is tested throughout the year. It is made within 1 month but its software and hardware are tested throughout the year so that when it is listed in November, no issue is created. Let us tell you about the facets of Ethereum that are designed in this way. It has Phase 0, Phase 1, Phase 1.5 and Phase 2 in which Ethereum will come in front of you. Phase Zero has been activated in December, after that the phases are engaged in the next line, as these phases are being completed, then Ethereum will come in front of you. Calculating the time of staking, which means locked staking, if you want you can stake your ethereum but the ethereum you are seeing today will be yours locked and will be open when you get ethereum 2.0.
And the time limit given to him is 2 years. From this, it can be guessed that it may take 2 years for all the Phases of Ethereum 2.0 to be completed. It doesn't matter, whenever Ethereum comes, it will be the number one coin at that time. We are not saying that Ethereum will be the bitcoin killer because both have their place. But everyone who says that I am the Ethereum killer from all around, all those things will go away. Because Ethereum is going to create such a huge highway for itself that no one will be able to say that I am the Ethereum killer. Friends this was the video about ethereum 2.0 if you like this video then like the video Comment below the video how did you like the video.
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