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Atrium 2.0 update is on its way; Can Ether take over Bitcoin?

At the moment, ether is the second most valuable cryptocurrency on the market. This currency code has reached the highest value in the history of its presence in the market on the eve of updating the Atrium platform. Ether is now valued at about $ 500 billion, which is still less than half the value of the market's first cryptocurrency, Bitcoin.

Bio) and faster, as a result of which Atrium may become the dominant platform and Ether the market currency.

Before further explanation, it is necessary to first note the difference between Bitcoin and Atrium. Bitcoin is a system that allows people to move and transfer currency without the need for a bank and is developed on the blockchain platform, which is an online platform and its transactions are tracked and recorded in decentralized networks of computers. These computers are known as Validators.

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These computers do rewards the newly extracted bitcoins for doing so. they receive. To better understand, you should know that Bitcoin is almost a rare cryptocurrency; There are currently about 18 million coins of this currency and the existing protocol for it is designed in such a way that it is not possible to increase it to more than 21 million.

BingMag.com Atrium 2.0 update is on its way; Can Ether take over Bitcoin?

On the other hand, ether works in a similar way to bitcoin, but atrium is different. In fact, Atrium is a global software platform with no hosting, and developers are building thousands of blockchain-based applications on it. This means that the mentioned applications operate without being controlled by any company. Examples of these applications include digital currency exchanges, insurance systems, and even new gaming methods. At the heart of this platform is the idea of smart contracts, which are a kind of automatic agreement to ensure the transfer of money and assets. Reaching special conditions. All Atrium platform transactions use the ether currency code, and the success of this platform is the reason why Ether has become the second largest cryptocurrency market over the years.

In fact, ether is the platform's power supply. Atrium - although referred to as GAS FEES - gives the currency performance and intrinsic value that Bitcoin lacks.

Why think of Atrium 2.0?

Despite all the aforementioned benefits for Atrium, the network still has major problems. The first problem we have to mention is the increase in gas fees in the last few years. This increase is due to the high popularity of the Atrium platform and its widespread use.

Validator computers, mentioned earlier, prioritize users based on the highest bid rate for their transactions. At the time of writing, for example, the average transaction rate at a Uniswap exchange is around $ 44. They are trying to solve this problem by building applications such as Lightning, which increases the speed of transactions.

Validator has also been increased. The existence of such a problem has also drawn criticism from Bitcoin, as its power consumption has soared.

Currently, the Bitcoin network consumes as much electricity as the entire Philippines, but its proponents say Most of the bitcoin power consumed would have been wasted if it had not been used on the network, they try to justify this. They cite, for example, the burning of natural gas on oil rigs, which is burned instead of sold because it is not economically viable. Bitcoin enthusiasts also point out that the network is transitioning to more renewable energy over time.

BingMag.com Atrium 2.0 update is on its way; Can Ether take over Bitcoin?

The development of Atrium 2.0 will solve these problems by replacing the network authentication system from proof of work to proof of stake. Since we do not have the opportunity to go into all the details in this article, we will give a brief explanation about proof of work and proof of stake.

proof of work is a protocol according to which Validator computers try Solve complex equations to prove that any requested transaction is valid. In contrast, proof of stake does not require the operation of all of these high-end computers, as the system randomly selects one computer to approve each transaction.

Many Bitcoin proponents oppose the proof of stake system because it The system gives the most power to the largest validator, and if these computers can take control of more than half of the network, they will probably be able to disrupt the system. Atrium fans, on the other hand, believe that the proof of stake is equipped with an internal balance checking system that prevents this from happening./Reduce by 9% and turn this network into a more environmentally friendly platform. Also, this update should be able to solve the problem of gas fees by increasing the platform's processing capacity from 30 transactions per second to 10,000 transactions per second, as well as more advanced smart contracts than before.

Update How is it going?

The transition to Atrium 2.0 is slow and examines the technical issues that have arisen over the past two years. In recent months, the new proof of stake blockchain system has been running a test on a parallel system that will allow developers to prepare it for integration in 2022.

Upcoming Update Prerequisites for this operation Is integration. This update, known as Altair, introduces many technical changes designed to ensure that Validators work properly and increase network decentralization.

Assuming all of these issues Go ahead as planned, all eyes will be on merging, and then another change called sharding will be important, which will dramatically increase the system's processing capacity.

Definitely after the Altair upgrade Has also increased. The recent rise of Bitcoin to record the highest price in the history of this cryptocurrency has also contributed to the overall growth of the cryptocurrency market. But some of Ether's price movements may have been a reflection of doubts about the success of the Altair upgrade, while others have been about people migrating from Bitcoin to Ether and injecting new capital. Atrium vs. Competitors>

One of the interesting issues that will arise when merging the two Atrium blockchains is its impact on the price of ether compared to its competitors. These competing platforms, also known as eth killers, have become very popular with users in recent months due to Atrium's problems with gas fees, including Cardano and Solana.

BingMag.com Atrium 2.0 update is on its way; Can Ether take over Bitcoin?

But the main question is definitely what effect these changes will have on Bitcoin as the market's first currency. Proponents of bitcoin continue to believe that the bitcoin protocol is more decentralized than proof of stake, and that the advantage of bitcoin is that it is a cryptocurrency brand and investors are more willing to invest in it.

With all these interpretations, again The question also arises as to whether the aforementioned benefits to Bitcoin could overwhelm the features of Atrium 2.0, such as greater environmental friendliness and the ability to manage more transactions. At present, the bitcoin market value is about twice that of ether, but many predict that ether could eventually take over bitcoin and become the market's first currency. But will this happen in 2022?


Source: The Next Web <// p>

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