ETHEREUM 2.0

Ethereum is a cryptocurrency.
Recently, it was launched in a faster, cheaper and more environmentally friendly platform, as the upgraded version called ‘Ethereum 2.0’.

What is Ethereum?

Ethereum is a decentralised and open-source blockchain platform, which is a growing list of cryptographic blocks.
It is the world’s second-largest cryptocurrency by market capitalization, only after bitcoin.
It is also the world’s most actively used blockchain.
Ethereum was first proposed in 2013 by a Russian- Canadian cryptocurrency researcher and programmer Vitalik Buterin.
The largest cryptocurrency ‘Bitcoin’ works on the principle of Mining, which in turn requires solving complex problems leading to large consumption of electricity.
This updated Ethereum 2.0 changes this system into ‘proof of stake’, which links the quantities of ether with the selection as validators.
Cryptocurrencies cannot be used as a legal currency in India.

What are cryptocurrencies?

It is a specific type of virtual currency that is protected by cryptographic encryption techniques.
Some of the popular cryptocurrencies are ripple, Bitcoin, and Ethereum.
There is no central authority to record the transactions.
Cryptocurrencies use technologies such as distributed ledger technology or blockchain technology to store transaction data.

What are the current cryptocurrency regulations in India?

In December 2017, the Government of India clarified that virtual currencies do not have protection or regulator permission in India.
In 2018, the Reserve Bank of India notified that the entities operating under it should not deal with cryptocurrency.

Subhash Chandra Garg committee on cryptocurrency

The inter-ministerial committee constituted under the chairmanship of Subhash Chandra Garg has submitted its report suggesting the draft bill, “Banning of Cryptocurrency and Regulation of Official Digital Currency bill, 2019”.

Source: TH

Join Our Telegram

World bank logistic performance index 2023

World bank logistic performance index 2023

28 Apr, 23
SHARE

India is now ranked 38th out of 139 nations in the Logistic Performance Index (LPI) 2023 of the World Bank. From its previous rankings of 44th in 2018 and 54th in 2014, this is a notable improvement. Earlier, the Logistics Ease Across Different States (LEADS) Report 2022 was published by the Ministry of Commerce and Industry. About Logi

Smuggling of Gold

28 Apr, 23
SHARE

Airports discovered more than 63% of this illegal gold. The Department of Revenue Intelligence recently conducted the Golden Dawn Operation across India, seizing 101.7 kg of illegal gold valued at Rs 51 crore. Despite the fact that India receives a legal import of about 800-1,000 tonnes of gold each year, the illicit market is thought to be

India-Thailand Relations

27 Apr, 23
SHARE

Both parties expressed satisfaction with the ongoing bilateral defence cooperation at the 8th India-Thailand Defence Dialogue, which was held in Bangkok, Thailand. Cultural ties and mutual cooperation that have been shaped by thousands of years of lasting historical and cultural ties characterise India and Thailand relations. Highlight

Translocation of Elephants

27 Apr, 23
SHARE

The Kerala government's appeal of the order of the Kerala High Court is rejected by the Supreme Court. The Kerala government's appeal against the Kerala High Court's directive to move Arikomban (Wild Elephant), the "rice tusker" of Munnar, to the Parambikulam tiger reserve was recently dismissed by the Supreme Court.

Global Buddhist Summit

26 Apr, 23
SHARE

Global Buddhist Summit In order to improve diplomatic and cultural ties with other nations, the Ministry of Culture recently organised the First Global Buddhist Summit 2023 in collaboration with the International Buddhist Confederation (IBC). About the summit "Responses to Contemporary Challenges: Philosophy to Praxis" is