• Ethereum's co-founder shares his views for the upcoming network upgrade.
  • ETH/USD rejected $200.00 handle.

Ethereum creator Vitalik Buterin explained the idea behind Ethereum 2.0 upgrade and shared the view on the functionality of the platform.

“It is a combination of a bunch of different features that we have been talking about for the past several years. We have been actively researching, building, and now, finally getting them all together,” he said

He spoke about Casper, the Proof Of Stake [POS] protocol that the platform will be using for the Ethereum 2.0 upgrade. An entire team dedicated to creating Casper and Vlad Zamfir is often credited as being the “Face of Casper.”

According to Buterin, Ethereum 2.0 upgrade will be based on the Proof Of Stake [POS] protocol, while the whole team is working hard on creating Casper. He also spoke about sharding that will help to enhance the performance and achieve scalability and mentioned improvements in the Virtual Machine with WebAssembly [EWASM].

He also explained the functionality Slasher that is aimed to increase the security.

“Slasher is a useful construct to have in our war chest, in case Proof of Stake mining becomes substantially more popular or a compelling reason to switch.”

Meanwhile, Ethereum is changing hands at $197.50, off Wednesday's high of $200. This handle serves as a critical resistance for ETH/USD that needs to be cleared before the recovery gain traction. Ethereum's market value is registered at $20.3B; an average daily trading volume is $1.4B. Ethereum has lost over 70% since the beginning of the year.

ETH/USD, 1-hour

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