Ethereum has several major problems, however. The first is that gas fees have become very expensive in the last couple of years because the network has become so popular and is therefore very congested. Here is the best place to buy Ethereum in Canada.

1. WHAT IS THE BEST PLACE TO BUY
ETHEREUM IN CANADA?

2. 1. Ethereum has several major problems, however.
The first is that gas fees have become very expensive
in the last couple of years because the network has
become so popular and is therefore very congested.
Here is the best place to buy Ethereum in Canada.
Validators prioritize users who are willing to pay the
highest fees for their transactions. Bitcoin has
comparable issues with congestion, which its
developers are trying to solve by building applications
like Lightning on top which boast faster transaction
speeds.

4. 2. The second problem for Ethereum is that, as it has
become more popular, the amount of computational
power used by validators has rocketed. It’s the same
problem that has brought a lot of negative publicity to
bitcoin, because it uses a lot of electricity.
Bitcoin is currently using as much power as the whole
of the Philippines, although its supporters argue that
much of this is power that would otherwise be wasted
— for example, oil rigs burning off natural gas
because it’s not profitable to sell it. Proponents also
point out that the network is shifting towards using
much more renewable power over time.

5. At any rate, the eventual creation of an ethereum will
solve these problems by moving the platform’s
system of validation from “proof of work” to “proof of
stake”. Without getting into too many details, proof of
work is a protocol in which validators all attempt to
solve complex equations to prove that each proposed
transaction is valid. With proof of stake, there’s no
need for all validators to do this power-hungry work,
because the system chooses one at random to
confirm each transaction.

6. Many in the bitcoin community are against proof of
stake because it gives the most power to the biggest
validators, potentially allowing them to corrupt the
system of validation if they can get control of more
than half of the network. Ethereum supporters
counter that proof of stake has checks and balances
built in that would prevent this from happening.
Either way, Ethereum promises to reduce the
platform’s power consumption by 99.9%, making it far
more sustainable. It should also solve the problem
with gas fees by raising the platform’s processing
ability from 30 transactions a second to potentially
100,000, as well as making possible more
sophisticated smart contracts than before.

7. How it’s going right now!
The transition to Ethereum has been a slow one,
riddled with technical issues that have dragged on for
over two years. For the past few months, the new
proof-of-stake blockchain has been running in a test
format in parallel with the existing system, allowing
the developers to prepare it for a merger in 2022.

8. The forthcoming upgrade is essentially a warm up for
this merger. Known as Altair, it introduces numerous
technical changes that are designed to keep
validators honest and make the system more
decentralised. Assuming this goes ahead as planned,
all eyes will be on the merger, and then later another
change known as “sharding” which will greatly
increase the system’s processing capability.

9. Certainly the price of ether has been strong ahead of
the Altair upgrade. The recent surge in bitcoin to all-
time highs has been helping to lift the entire crypto
market. But some of the price movement in ether
probably reflects people betting that the upgrade will
succeed, while the rest is from speculators switching
from bitcoin, and new money moving into the space.

10. Regardless, you can check it on how to easily buy
XRP in Canada with Netcoins. It is a great platform,
where you can create an account, get verified and
start trading with ease.
SOURCE CREDIT:
https://medium.com/@bitcoinwalletcanada/what-
is-the-best-place-to-buy-ethereum-in-canada-
44fbd185ac45

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