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ETHEREUM 2.0 AND CHAINLINK: The Story So Far And What To Expect In 2020

When investing into cryptocurrency you want to look for projects that will make the biggest changes within an industry. This is why I prefer coins like ETH, BAT, LINK, XLM, ONT and NEO.

However today we are going to look at Ethereum and Chainlink, two revolutionary cryptocurrencies that will bridge many gaps present in the blockchain space.

Ethereum 2.0

Ethereum 2.0 is the name used to describe a series of proposed updates that will make Ethereum faster, improve it's scalability, increase it's security and improve its ability to deploy smart contracts and dApps (decentralized applications).

Design Goals:

1. Minimize complexity: Simplify the Ethereum blockchain, even at the cost of reduced efficiency.

2. Improve up-time: The Ethereum network should remain live during major network splits and when a very large number of nodes go offline. Note: Nodes are computers which connect to the Ethereum network.

3. Ensure longevity: Ethereum 2.0 should be built with components which are either quantum secure or can be easily swapped out for quantum secure replacements when available.

4. Increased security: Use design techniques which allow a large number of validators to secure the network by staking their ETH holdings.

5. Reduce barriers to entry: Make it possible for a typical laptop to process or validate shards.

Ethereum is built in 4 stages (more info later in this post) and the stage that will take us to Ethereum 2.0 is called Serenity.

Serenity is a series of upgrades to the Ethereum blockchain which include:

Beacon Chain (2020) - A "system chain" which will store and maintain a registry of validators, process cross-links between itself and the mainchain, and to process the finality gadget.

To become a validator you will need to make a deposit of exactly 32 ETH into an ETH 1.0 smart contract. When the deposit is...
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