The transition to Ethereum 2.0 began on December 1st, and it is one of the most anticipated events of the year.
Ethereum 2.0 will include multiple technical upgrades. There for designed to improve system privacy and make the blockchain more sustainable the release of Ethereum, scalable, and secure.
Ethereum 2.0 is the result of four years of research and development by subject researchers to help clients. There for users, and Dapp developers solve long-standing problems and troubleshoot related problems.
The upgrade is a huge project the release of Ethereum. There for and it will take some time (according to the company, it will take several years) to fully migrate and upgrade.
Situation Overview
According to ConsenSys, bc data thailand as of October 2020, there are already 2,652 Dapps(1) built on Ethereum 1.0, making it the most popular blockchain for developers.
There for looking to host their projects on existing infrastructure. However, no blockchain is perfect, and this is also true for Ethereum. More precisely, a blockchain:
Lack of interoperability, i.e. it cannot communicate with other blockchains (such as the Bitcoin blockchain);
The number of transactions per second is limited, currently 15 TPS;
Transaction fees (gas fees) are high
Congestion due to traffic limits these tools are also called the communication marketing mix ,complexity and technical requirements of running a node;
The PoW consensus mechanism consumes a lot of electricity.
There for without compromising node size.” It will attempt to “move all users and assets to a fully decentralized network without impacting operations or losing data history” (2).
To be successfully launch, Ethereum 2.0 needs the help of 16,384 validators. Anyone can become a node.
There for the responsibilities it implies without penalty (as validators can be at a disadvantage and their deposits.
What changes can we expect from Ethereum 2.0?
The changes brought by Ethereum 2.0 will happen slowly… but they will happen. Each upgrade is interrelate and follows a specific order. “Serenity” is the roadmap for determining the upgrade, which can be divide into 4 phases.
Phase 0: Beacon Chain Release
It will be launch today. This is the backbone b2b fax lead network of Ethereum 2.0, which will support a new algorithm based on PoS and the first deployed components.
Phase 0.5: Shard Chain Deployment
Sharding is the next step in Ethereum 2.0. Sharding is the process of breaking down data on the same blockchain.
This technology is scalable and energy-efficient. Sharding makes it easier for people to participate in the node process.
