Nite
Valued Contributor
One of the most anticipated updates for Ethereum is the transition to Ethereum 2.0, also known as Eth2 or Serenity. This upgrade aims to improve the scalability, security, and sustainability of the Ethereum network by transitioning from a proof-of-work (PoW) consensus mechanism to a proof-of-stake (PoS) model. The Beacon Chain, which is the first phase of Ethereum 2.0, was launched in December 2020, marking a significant milestone in Ethereum’s evolution.
Ethereum 2.0 introduces sharding, a technique that divides the network into smaller parts called shards. Sharding helps improve scalability by allowing multiple transactions to be processed in parallel across different shards, increasing the overall throughput of the network.
Ethereum 2.0 will bring changes to the economic model of the network, including adjustments to issuance rates and rewards for validat
ors.
Ethereum 2.0 introduces sharding, a technique that divides the network into smaller parts called shards. Sharding helps improve scalability by allowing multiple transactions to be processed in parallel across different shards, increasing the overall throughput of the network.
Ethereum 2.0 will bring changes to the economic model of the network, including adjustments to issuance rates and rewards for validat
ors.
