What is Ethereum 2.0?
Ethereum 2.0, also known as ETH2 is a major upgrade to the Ethereum blockchain.
This upgrade aims to improve scalability, security, and sustainability, ushering in a new era for the crypto ecosystem.
One of the key features of Ethereum 2.0 is the transition from a proof-of-work (PoW) consensus mechanism to a proof-of-stake (PoS) model.
Instead of miners, validators will secure the network and earn rewards.
Ethereum 2.0 majorly focuses on scalability.
It has introduced shard chains which help increase the network's capacity, enabling it to handle a significantly higher number of transactions.
Ethereum 2.0 aims to make the network more sustainable. The transition to PoS reduces energy consumption.
Enhanced scalability also offers a smoother experience, lower transaction fees, and supports a wider range of applications.
Ethereum 2.0 aims to empower individuals and organizations to build and participate in the decentralized future.