Coinbase adds support for “ETH2” before critical network upgrades that are close at hand

On December 10th, just before the key network upgrade, the cryptocurrency exchange Coinbase added a mirror version to its cryptocurrency price index. This version, known as "ETH2", seems to have been tracking ETH's raw market data synchronously. For example, the cost of purchasing ETH2 is the same as the cost of purchasing eth2. At the same time, the market capitalization, trading volume, circulation supply and price changes of the two are the same. However, unlike before, ETH2 tokens have no trading activity, popularity scores, and no typical holding time. As a result, ETH2 will only track ETH market data until at least mid-2022. This may be because ETH2 seems to have been acting as a native token for the ongoing Ethernet upgrade, called Ethernet 2.0, which is expected to be fully launched in June 2022. But Coinbase's index seems to be more like an adjustment to the Arrowhead Glacier. This divergence will give developers more time to prepare for Etherum 2.0. Before Ether 2.0. The Arrow Glacier upgrade is designed to delay the so-called "difficulty bomb", an incentive written on the etheric blockchain since its launch in 2015 to make ETH mining more difficult. In this way, the detonation of the difficulty bomb will slow down the blocking speed as long as the etheric is verified based on the flames of war. Tim Becco, one of the core developers involved in the Ethernet upgrade, pointed out that Arrow Glacier may be the last upgrade before the launch of Ethernet 2.0 next year. At the same time, Coinbase seems to have been doing something with the Arrow Glacier fork to ensure that there will be a new Token called ETH2 after the Etherum 2.0 upgrade. Specifically, Ethernet 2.0, also known as serenity, will make major changes in design, including a comprehensive transition from energy-intensive POW certification to POS certification. In the current version, the node must validate each transaction in order to maintain the etheric public ledger. However, the Ethernet 2.0 upgrade will introduce "sharding" The network is divided into different parts (that is, fragments), and nodes are randomly assigned to each fragment. This will eliminate the need for each node to scan the entire chain and theoretically increase the speed and cost of network maintenance. At the same time, each market segment shares transaction details with the so-called beacon chain, which is the backbone of Ethernet 2.0. ETH2 is not a new cryptocurrency. The beacon chain will be launched in December 2021. It will validate the transactions for each segment, thus helping the entire Ethernet 2.0 network to reach a consensus. It will also find dishonest verifiers and initiate penalties by removing some of their shares from circulation. The core of the Ethernet 2.0 POS design will be ETH (or ETH2), which will win the closure award mainly as a commitment token for verifier participation in network consensus. Since the launch of the beacon chain deposit contract in December 2021, it has received more than 55300 separate accounts (verifiers) and more than 8.42 million ETH. In other words, ETH2 is not a new currency, and it will not change the amount that people hold. On the contrary, as Coinbase's index list shows, ETH2 may eventually become a remake of the original etheric currency without requiring the holder to replace one version with another.