- The co-founder of Lido finance talked about the future of Ethereum.
- Ethereum Stock Price increased 45% in the last few months.
Lido finance is headquartered in London, England, United Kingdom and was founded in 2020 by Vasiliy Shapovalov. The company is currently working on the First layer of Ethereum Blockchain.
Reports of July 18, 2022, mentioned the expansion of Lido finance on the second layer of Ethereum Blockchain to make it widely popular among the user of Users of the Ethereum Ecosystem.
The Official website of Lido Finance states that it is holding $4.2 Million Ethereum tokens that will nearly amount to 6.2 Billion US Dollars.
The co-founder of Lido Finance, Vasiliy Shapovalov, stated that the firm is focusing on the betterment of the security protocols of the ecosystem and is also developing a programmed Algorithm and ecosystem for offering withdrawal services after an upgrade in Lido Network.
Vasiliy Shapovalov was questioned in an interview about how far he sees Ethereum after the launch of Ethereum Version 2.0. The answer he gave was,” The merge or the upgradation of Ethereum’s old version is Like changing the engine in the mid of flight to make it more featured and fast.”
The main upgrade in the Ethereum Version is focused on fast Blockchain transactions and introducing Proof-of-stake Mechanism in the ecosystem to avoid excessive electricity use and make transactions easy and reliable.
Vasiliy said the introduction of the Proof of Stake mechanism will take the Ethereum community to the next level because most of the blockchains are still working on the Proof-of-Work mechanism, and this mechanism is creating many severe problems in the environment and temperature variation.
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Conclusion
In the last few years, it has been seen that many countries that have cheap electricity and a better environment for crypto trading and mining are now facing severe issues. In the last few months, Kazakhstan faced the severe problem of power shortage, internet shutdown, and high heat inflammation in their country. A month ago, Texas also recorded the highest temperature in its history and shut down all kinds of trading and mining based on the Proof-of-Work mechanism.
Source: https://www.thecoinrepublic.com/2022/07/22/lido-co-founder-vasiliy-shapovalov-talked-about-the-future-of-ethereum-at-ethcc/