What is Ethereum 2.0?

 


As the name suggests Ether 2.0 is the updated version of Eth blockchain named as Eth 2.0, One of the big difference we will see in Eth 2.0 that it moved away from Proof-of-Work, a consensus mechanism, means the mining of Eth will not be available in future & it will be shifted on Proof-Of-Stacking (POS) mechanism, Another big change will happen on the transactions part, Eth 2.0 will considerably handle more transaction per seconds, which will reduce the fees of the network as well.

Eth 2.0 will come with Stacking mechanism, means a member can stake their Eth in order to run a node on ether network to become a validator of the transaction, the minimum eth stacking is 32 ETH in order to run a node and member get interested on that as well, Well it considerably a great updates ahead people believe that increasing capacity through Ethereum 2.0 will also help make transactions cheaper. As we get closer and closer to the upgrade, we’ve seen costs rise substantially, which is great news for miners but bad news for consumers.

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